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Supplemental Financial Information (Exelon, Generation, ComEd and PECO)
 6 Months Ended
Jun. 30, 2012
Supplemental Financial Information [Abstract]  
Supplemental Financial Information (Exelon, Generation, ComEd and PECO)

17.    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 and Comprehensive Income for the three and six months ended June 30, 2012 and 2011:

Three Months Ended June 30, 2012Exelon Generation ComEd PECO BGE
Other, Net              
Decommissioning-related activities:              
 Net realized income on decommissioning trust funds —              
  Regulatory Agreement Units(a) $50 $50 $0 $0 $0
  Non-Regulatory Agreement Units(a)  19  19  0  0  0
 Net unrealized losses on decommissioning trust funds —              
  Regulatory Agreement Units (97)  (97)  0  0  0
  Non-Regulatory Agreement Units (35)  (35)  0  0  0
 Net unrealized gains on pledged assets -               
  Zion Station decommissioning 4  4  0  0  0
 Regulatory offset to decommissioning trust fund-related              
  activities(b)  31  31  0  0  0
Total decommissioning-related activities (28)  (28)  0  0  0
Investment income 6  1  0  1  3
Long-term lease income  7  0  0  0  0
Interest income related to uncertain income tax positions 14  0  1  0  0
Credit facility termination fees (42)  (42)  0  0  0
AFUDC - Equity 3  0  0  1  3
Other  (3)  (7)  2  0  1
                 
Other, net $(43) $(76) $3 $2 $7
               
                 
Six Months Ended June 30, 2012Exelon Generation ComEd PECO BGE
Other, Net              
Decommissioning-related activities:              
 Net realized income on decommissioning trust funds —              
  Regulatory Agreement Units(a) $110 $110 $0 $0 $0
  Non-Regulatory Agreement Units(a)  67  67  0  0  0
 Net unrealized gains on decommissioning trust funds —              
  Regulatory Agreement Units 150  150  0  0  0
  Non-Regulatory Agreement Units 30  30  0  0  0
 Net unrealized gains on pledged assets -               
  Zion Station decommissioning 38  38  0  0  0
 Regulatory offset to decommissioning trust fund-related              
  activities(b)  (245)  (245)  0  0  0
Total decommissioning-related activities 150  150  0  0  0
Investment income 10  0  1  2  6
Long-term lease income  15  0  0  0  0
Interest income related to uncertain income tax positions 14  0  0  0  0
Credit facility termination fees (42)  (42)  0  0  0
AFUDC - Equity 7  0  0  2  6
Other  (2)  (5)  6  1  1
                 
Other, net $152 $103 $7 $5 $13
                 

Three Months Ended June 30, 2011Exelon Generation ComEd PECO BGE
Other, Net              
Decommissioning-related activities:              
 Net realized income on decommissioning trust funds (a)              
  Regulatory Agreement Units$38 $38 $0 $0 $0
  Non-Regulatory Agreement Units 16  16  0  0  0
 Net unrealized gains on decommissioning trust funds               
  Regulatory Agreement Units 28  28  0  0  0
  Non-Regulatory Agreement Units 11  11  0  0  0
 Net unrealized income on pledged assets              
  Zion Station decommissioning 22  22  0  0  0
 Regulatory offset to decommissioning trust fund-related              
  activities(b)  (70)  (70)  0  0  0
Total decommissioning-related activities 45  45  0  0  0
Investment income 1  0  0  1  3
Long-term lease income  7  0  0  0  0
Interest income related to uncertain income tax positions 43  33  1  0  0
AFUDC - Equity 4  0  2  2  3
Other  1  (2)  1  0  0
                 
Other, net $101 $76 $4 $3 $6
               
Six Months Ended June 30, 2011Exelon Generation ComEd PECO BGE
Other, Net              
Decommissioning-related activities:              
 Net realized income on decommissioning trust funds (a)              
  Regulatory Agreement Units$81 $81 $0 $0 $0
  Non-Regulatory Agreement Units 26  26  0  0  0
 Net unrealized gains on decommissioning trust funds               
  Regulatory Agreement Units 140  140  0  0  0
  Non-Regulatory Agreement Units 54  54  0  0  0
 Net unrealized income on pledged assets              
  Zion Station decommissioning 45  45  0  0  0
 Regulatory offset to decommissioning trust fund-related              
  activities(b)  (221)  (221)  0  0  0
Total decommissioning-related activities 125  125  0  0  0
Investment income 2  0  0  2  7
Long-term lease income  14  0  0  0  0
Interest income related to uncertain income tax positions 46  33  1  1  0
AFUDC - Equity 9  0  4  6  7
Other  0  (6)  3  (1)  (1)
                 
Other, net $196 $152 $8 $8 $13
                 

__________

(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 six months ended June 30, 2012 and 2011:

                 
Six Months Ended June 30, 2012Exelon Generation ComEd PECO BGE
Depreciation, amortization, accretion and depletion              
Property, plant and equipment$ 806 $343 $262 $102 $123
Regulatory assets  56  0  38  5  27
Amortization of intangible assets  14  14  0  0  0
Amortization of energy contract assets and liabilities (a)  485  532  0  0  0
Nuclear fuel (a)  419  419  0  0  0
Asset retirement obligation accretion (b)  115  115  0  0  0
                 
Total depreciation, amortization, accretion and depletion$ 1,895 $ 1,423 $ 300 $ 107 $150
                 
Six Months Ended June 30, 2011Exelon Generation ComEd PECO BGE
Depreciation, amortization and accretion              
Property, plant and equipment$629 $277 $248 $93 $113
Regulatory assets 27  0  22  5  31
Nuclear fuel (a) 355  355  0  0  0
Asset retirement obligation accretion (b) 103  103  0  0  0
                 
Total depreciation, amortization and accretion$ 1,114 $ 735 $ 270 $ 98 $ 144

__________

(a)       Included in purchased power and fuel expense, or operating revenues 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.

 

Six Months Ended June 30, 2012Exelon Generation ComEd PECO BGE
Other non-cash operating activities:              
Pension and non-pension postretirement benefit costs$400 $175 $137 $26 $32
Provision for uncollectible accounts 60  (1)  21  26  17
Stock-based compensation costs 56  0  0  0  0
Other decommissioning-related activity (a) (62)  (62)  0  0  0
Energy-related options (b) 64  64  0  0  0
Amortization of regulatory asset related to debt costs 9  0  7  1  1
Amortization of rate stabilization deferral 15  0  0  0  25
 Amortization of debt fair value adjustment(26)  (11)  0  0  0
Discrete impacts from EIMA (c) 69  0  69  0  0
Merger-related commitments (d) 188  35  0  0  28
 Severance cost 119  30  0  7  0
Equity in loss of unconsolidated subsidiaries 79  79  0  0  0
Other (12)  9  7  6  (3)
               
Total other non-cash operating activities$959 $318 $241 $66 $100
                
Changes in other assets and liabilities:              
Under/over-recovered energy and transmission costs (37)  0  (58)  18  2
Other regulatory assets and liabilities (514)  0  (39)  12  (28)
Other current assets 190  (97)  (1)  (110)(e)55
Other noncurrent assets and liabilities 4  (77)  (6)  (7)  14
                
Total changes in other assets and liabilities$(357) $(174) $(104) $(87) $43
                
Non-cash investing and financing activities:              
Merger with Constellation, common stock issued$7,365 $5,272 $0 $0 $0
                
 Total non-cash investing and financing activities: 7,365  5,272  0  0  0

Six Months Ended June 30, 2011Exelon Generation ComEd PECO BGE
Other non-cash operating activities:              
Pension and non-pension postretirement benefit costs$271 $123 $108 $16 $28
Provision for uncollectible accounts 45  0  18  27  21
Stock-based compensation costs 43  0  0  0  0
Other decommissioning-related activity (a) (35)  (35)  0  0  0
Energy-related options (b) 68  68  0  0  0
Amortization of regulatory asset related to debt costs 11  0  9  2  1
Amortization of rate stabilization deferral 0  0  0  0  25
Deferral of storm costs 0  0  0  0  (16)
Uncollectible accounts recovery, net  13  0  13  0  0
Discrete impacts from 2010 Rate Case Order (f) (32)  0  (32)  0  0
Other (6)  12  (1)  (1)  (5)
               
Total other non-cash operating activities$378 $168 $115 $44 $54
               
Changes in other assets and liabilities:              
Under/over-recovered energy and transmission costs (99)  0  (82)  (17)  (7)
Other regulatory assets and liabilities    0  (6)  2  (11)
Other current assets  (218)  (91)  (13)  (104)(e) 28
Other noncurrent assets and liabilities 68  (17)  139  11  (7)
               
Total changes in other assets and liabilities$(249) $(108) $38 $(108) $3

_________

(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 2011 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.

(f)              In May 2011, as a result of the 2010 Rate Case order, ComEd recorded one-time net benefits to reestablish previously expensed plant balances and to recover previously incurred costs related to Exelon's 2009 restructuring plan. See Note 4 - Regulatory Matters for more information.

 

DOE Smart Grid Investment Grant (Exelon, PECO and BGE). For the six months ended June 30, 2012, Exelon, PECO and BGE have included in the capital expenditures line item under investing activities of the cash flow statement capital expenditures of $68 million, $34 million and $34 million, respectively, and reimbursements of $65 million, $46 million and $19 million, respectively, related to PECO's and BGE's DOE SGIG programs. For the six months ended June 30, 2011, Exelon, PECO and BGE have included in the capital expenditures line item under investing activities of the cash flow statement capital expenditures of $34 million, $19 million and $15 million, respectively, and reimbursements of $54 million, $26 million and $28 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 June 30, 2012 and December 31, 2011.

 

June 30, 2012Exelon   Generation   ComEd  PECO  BGE
Property, plant and equipment:                
Accumulated depreciation and amortization$ 11,367(a) $5,526(a) $2,844 $2,731 $2,549
Accounts receivable:                
Allowance for uncollectible accounts 303   91   78  102  32
                 
December 31, 2011Exelon   Generation   ComEd  PECO  BGE
Property, plant and equipment:                
Accumulated depreciation and amortization$ 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 $1,951 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 $21 million as of June 30, 2012 and December 31, 2011. 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 June 30, 2012 of $18 million consists of $1 million, $4 million and $13 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 June 30, 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 June 30, 2012 and December 31, 2011:

June 30, 2012Exelon  Generation  ComEd  PECO  BGE
Accumulated other comprehensive income (loss)              
Net unrealized gain on cash flow hedges$547 $901 $0 $0 $0
Pension and non-pension postretirement benefit plans (2,864)  0  0  0  0
Net unrealized losses on foreign currency translation (2)  (2)  0  0  0
Other comprehensive income—equity investment in CENG 6  6  0  0  0
Unrealized gain (loss) on marketable securities 0  (1)  0  1  0
                 
Total accumulated other comprehensive income (loss)$(2,313) $904 $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