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Merger and Acquisitions (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]

Description		Payment Period	BGE		Generation		Exelon		Statement of Operations Location
BGE rate credit of $100 per residential customer (a)		Q2 2012	$	113	$	0	$	113	Revenues
Customer investment fund to invest in energy efficiency
	and low-income energy assistance to BGE customers	2012 to 2014		0		0		113.5	O&M Expense
Contribution for renewable energy, energy efficiency
	or related projects in Baltimore	2012 to 2014		0		0		2	O&M Expense
Charitable contributions at $7 million per year for 10 years		2012 to 2021		28		35		70	O&M Expense
State funding for offshore wind development projects		Q2 2012		0		0		32	O&M Expense
Miscellaneous tax benefits		Q2 2012		(2)		0		(2)	Taxes Other Than Income
	Total		$	139	$	35	$	328.5

Exelon made a $66 million equity contribution to BGE in the second quarter of 2012 to fund the after-tax amount of the rate credit as directed in the MDPSC order approving the merger transaction.

Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block]

	Number of Shares/ Awards Issued	Total Fair Value
Issuance of Exelon common stock to Constellation shareholders and equity award holders at the exchange ratio of 0.930 shares for each share of Constellation common stock; based on the opening price of Exelon common stock on March 12, 2012 of $38.91 (a)	187.45	$	7,294
Issuance of Exelon equity awards to replace existing Constellation equity awards (b)	11.30		71
Total purchase price		$	7,365

The number of shares issued excludes 0.7 million shares of stock that are held in a custodian account specifically for the settlement of unvested share-based restricted stock awards. The related share value is excluded from the estimated fair value as these awards have not vested and, therefore, are not in the purchase price.
Includes vested Constellation stock options and restricted stock units converted at fair value to Exelon awards on March 12, 2012. The fair value of the stock options was determined using the Black-Scholes model.

Schedule of Purchase Price Allocation [Table Text Block]

Preliminary Purchase Price Allocation, excluding amortization	Exelon		Generation
Current assets	$	4,936	$	3,638
Property, plant and equipment		9,240		3,948
Unamortized energy contracts		3,218		3,218
Other intangibles, trade name and retail relationships		457		457
Investment in affiliates		1,942		1,942
Pension and OPEB regulatory asset		740		0
Other assets		2,668		1,266
Total assets		23,201		14,469

Current liabilities		3,431		2,798
Unamortized energy contracts		1,722		1,512
Long-term debt, including current maturities		6,038		2,972
Noncontrolling interest		92		92
Deferred credits and other liabilities and preferred securities		4,553		1,837
Total liabilities, preferred securities and noncontrolling interest		15,836		9,211
Total purchase price	$	7,365	$	5,258

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

								Estimated amortization expense
Description	Weighted Average Amortization	Gross		Accumulated Amortization		Net		Remainder of 2012		2013		2014		2015		2016
Unamortized energy contracts, net (a)	1.5	$	1,496	$	(714)	$	782	$	267	$	396	$	76	$	18	$	(31)
Trade name	10.0		243		(14)		229		10		24		24		24		24
Retail relationships	12.4		214		(9)		205		8		19		19		19		19

Total, net		$	1,953	$	(737)	$	1,216	$	285	$	439	$	119	$	61	$	12

(a) Includes the fair value of BGE's power and gas supply contracts for which an offsetting regulatory asset was also recorded.

Schedule of Restructuring and Related Costs [Text Block]

Three Months Ended September 30, 2012
Severance Benefits (a)		Exelon		Generation		ComEd		PECO		BGE
Severance charges	$	8	$	4	$	1	$	1	$	1
Stock compensation		3		2		1		0		0
Total severance benefits	$	11	$	6	$	2	$	1	$	1

Nine Months Ended September 30, 2012
Severance Benefits (a)		Exelon		Generation		ComEd (b)		PECO		BGE (c)
Severance charges	$	117	$	68	$	16	$	8	$	18
Stock compensation		6		4		1		0		0
Other charges		7		4		1		0		1
Total severance benefits	$	130	$	76	$	18	$	8	$	19

_________________

The amounts above include $0 million and $40 million at Generation, $2 million and $16 million at ComEd, $1 million and $8 million at PECO, and $1 million and $7 million at BGE, for amounts billed by BSC through intercompany allocations for the three and nine months ended September 30, 2012, respectively.
ComEd established regulatory assets of $18 million, as of September 30, 2012, for severance benefits costs. The majority of these costs are expected to be recovered over a five-year period.
Consistent with MDPSC precedent, BGE established a regulatory asset of $19 million, as of September 30, 2012, for severance benefits costs. The majority of these costs are expected to be recovered over a five-year period.

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

Three Months Ended September 30, 2012
Severance liability		Exelon		Generation		ComEd		PECO		BGE
Balance at June 30, 2012	$	118	$	30	$	2	$	0	$	12
Severance charges (a)		7		4		0		0		0
Stock compensation		3		1		0		0		0
One-time termination benefits (b)		1		1		0		0		0
Other charges (c)		0		0		0		0		0
Payments		(9)		(2)		0		0		(1)
Balance at September 30, 2012	$	120	$	34	$	2	$	0	$	11

Nine Months Ended September 30, 2012
Severance liability		Exelon		Generation		ComEd		PECO		BGE
Balance at December 31, 2011	$	0	$	0	$	0	$	0	$	0
Severance charges (a)		114		31		2		0		11
Stock compensation		6		2		0		0		0
One-time termination benefits (b)		3		1		0		0		0
Other charges (c)		7		2		0		0		1
Payments		(10)		(2)		0		0		(1)
Balance at September 30, 2012	$	120	$	34	$	2	$	0	$	11

Includes salary continuance and health and welfare severance benefits. Amounts represent ongoing severance plan benefits.
One-time termination benefits began to be recognized in the second quarter of 2012.
Primarily includes life insurance, employer payroll taxes, educational assistance, and outplacement services.

Business Acquisition, Pro Forma Information [Table Text Block]

	Generation				Exelon
		Three Months Ended September 30,				Three Months Ended September 30,
		2012		2011 (a)		2012		2011 (b)
Total Revenues	$	4,293	$	5,133	$	6,841	$	8,219
Net income attributable to Exelon		282		163		492		379

Basic Earnings Per Share		n.a.		n.a.	$	0.58	$	0.45
Diluted Earnings Per Share		n.a.		n.a.		0.57		0.44

	Generation				Exelon
		Nine Months Ended September 30,				Nine Months Ended September 30,
		2012		2011 (a)		2012		2011 (b)
Total Revenues	$	12,753	$	14,996	$	20,084	$	23,839
Net income attributable to Exelon		805		690		1,439		1,119

Basic Earnings Per Share		n.a.		n.a.	$	1.79	$	1.32
Diluted Earnings Per Share		n.a.		n.a.		1.79		1.31

_________________

The amounts above include non-recurring costs directly related to the merger of $69 million and $318 million for the three and nine months ended September 30, 2011, respectively.
The amounts above include non-recurring costs directly related to the merger of $74 million and $242 million for the three and nine months ended September 30, 2011, respectively.

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References+ Details

- Definition

Tabular disclosure of the equity interest issued or issuable in a business acquisition (or series of individually immaterial business acquisitions) planned, initiated, or completed during the period.

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- Definition

Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost.

+ References+ Details

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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