XML 46 R50.htm IDEA: XBRL DOCUMENT v2.4.0.6
Merger and Acquisitions (Details) (USD $)
3 Months Ended 9 Months Ended 1 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Mar. 31, 2012
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Severance [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Severance [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
One-time Termination Benefits [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
One-time Termination Benefits [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Stock Compensation Plan [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Stock Compensation Plan [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Other Severance Charges [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Common Stock [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Equity Awards [Member]
Sep. 30, 2012
Minimum [Member]
MW
Years
Sep. 30, 2012
Maximum [Member]
Years
MW
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Sep. 30, 2011
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Days
MW
Sep. 30, 2011
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
Sep. 30, 2011
Exelon Generation Co L L C [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
Sep. 30, 2011
Exelon Generation Co L L C [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
One-time Termination Benefits [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
One-time Termination Benefits [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
Constellation Energy Group Acquisition [Member]
Severance [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
Constellation Energy Group Acquisition [Member]
Severance [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
Constellation Energy Group Acquisition [Member]
Stock Compensation Plan [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
Constellation Energy Group Acquisition [Member]
Stock Compensation Plan [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
Constellation Energy Group Acquisition [Member]
Other Severance Charges [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2011
Exelon Generation Co L L C [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2011
Exelon Generation Co L L C [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Exelon Generation Co L L C [Member]
Antelope Valley Solar Ranch One Acquisition [Member]
MW
Sep. 30, 2012
Commonwealth Edison Co [Member]
Sep. 30, 2011
Commonwealth Edison Co [Member]
Sep. 30, 2012
Commonwealth Edison Co [Member]
Sep. 30, 2011
Commonwealth Edison Co [Member]
Sep. 30, 2012
Commonwealth Edison Co [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Commonwealth Edison Co [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Commonwealth Edison Co [Member]
Constellation Energy Group Acquisition [Member]
Severance [Member]
Sep. 30, 2012
Commonwealth Edison Co [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Commonwealth Edison Co [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
PECO Energy Co [Member]
Sep. 30, 2011
PECO Energy Co [Member]
Sep. 30, 2012
PECO Energy Co [Member]
Sep. 30, 2011
PECO Energy Co [Member]
Sep. 30, 2012
PECO Energy Co [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
PECO Energy Co [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
PECO Energy Co [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
PECO Energy Co [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Baltimore Gas and Electric Company [Member]
Sep. 30, 2011
Baltimore Gas and Electric Company [Member]
Sep. 30, 2012
Baltimore Gas and Electric Company [Member]
Sep. 30, 2011
Baltimore Gas and Electric Company [Member]
Sep. 30, 2012
Baltimore Gas and Electric Company [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Baltimore Gas and Electric Company [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Baltimore Gas and Electric Company [Member]
Constellation Energy Group Acquisition [Member]
Severance [Member]
Sep. 30, 2012
Baltimore Gas and Electric Company [Member]
Constellation Energy Group Acquisition [Member]
Other Severance Charges [Member]
Sep. 30, 2012
Baltimore Gas and Electric Company [Member]
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Baltimore Gas and Electric Company [Member]
Constellation Energy Group Acquisition [Member]
Years
Sep. 30, 2012
Constellation Energy Group Acquisition [Member]
Sep. 30, 2012
Customer Relationships [Member]
Constellation Energy Group Acquisition [Member]
Total Assets [Member]
Years
Sep. 30, 2012
Trade Names [Member]
Constellation Energy Group Acquisition [Member]
Total Assets [Member]
Years
Sep. 30, 2012
Power Supply Contracts [Member]
Sep. 30, 2012
Power Supply Contracts [Member]
Constellation Energy Group Acquisition [Member]
Total Assets [Member]
Years
Acquired Finite-Lived Intangible Assets [Line Items]                                                                                                                                                  
Acquired Finite Lived Intangible Asset Weighted Average Useful Life                                                                                                                                           12.4 10.0   1.5 [1]
Finite Lived Intangible Assets Net [Abstract]                                                                                                                                                  
Finite lived intangible assets gross                                                                                                                                         $ 1,953,000,000 $ 214,000,000 $ 243,000,000   $ 1,496,000,000 [1]
Finite lived intangible assets accumulated amortization                                                                                                                                         (737,000,000) (9,000,000) (14,000,000) (224,000,000) (714,000,000) [1]
Finite lived intangible assets net                                                                                                                                         1,216,000,000 205,000,000 229,000,000   782,000,000 [1]
Finite Lived Intangible Assets Future Amortization Expense [Abstract]                                                                                                                                                  
Future Amortization Expense Year One                                                                                                                                         285,000,000 8,000,000 10,000,000   267,000,000 [1]
Future Amortization Expense Year Two                                                                                                                                         439,000,000 19,000,000 24,000,000   396,000,000 [1]
Future Amortization Expense Year Three                                                                                                                                         119,000,000 19,000,000 24,000,000   76,000,000 [1]
Future Amortization Expense Year Four                                                                                                                                         61,000,000 19,000,000 24,000,000   18,000,000 [1]
Future Amortization Expense Year Five                                                                                                                                         12,000,000 19,000,000 24,000,000   (31,000,000) [1]
Business Acquisition, Entity Acquired and Reason for Acquisition [Abstract]                                                                                                                                                  
Business Acquisitions, Megawatts Acquired                                                                                 230                                                                
Business Acquisition Cost Of Acquired Entity [Abstract]                                                                                                                                                  
Business Combination, Integration Related Costs   18,000,000   43,000,000                               87,000,000   671,000,000     5,000,000   6,000,000                   79,000,000   283,000,000       2,000,000   2,000,000       0 2,000,000   4,000,000   1,000,000     3,000,000 13,000,000                 1,000,000 155,000,000          
Business Combination, Bargain Purchase [Abstract]                                                                                                                                                  
Business Combination, Bargain Purchase, Gain Recognized, Amount   36,000,000   36,000,000                                         36,000,000   36,000,000                                                                                            
Business Acquisition, Purchase Price Allocation [Abstract]                                                                                                                                                  
Business Acquisition, Purchase Price Allocation, Current Assets                                       4,936,000,000   4,936,000,000                             3,638,000,000   3,638,000,000                                                                    
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment                                       9,240,000,000   9,240,000,000                             3,948,000,000   3,948,000,000                                                                    
Business Acquisition, Purchase Price Allocation, Intangible Assets, Contracts                                       3,218,000,000   3,218,000,000                             3,218,000,000   3,218,000,000                                                                    
Business Acquisition, Purchase Price Allocation, Intangible Assets, Relationships                                       457,000,000   457,000,000                             457,000,000   457,000,000                                                                    
Business Acquisition, Purchase Price Allocation, CENG Investment                                       1,942,000,000   1,942,000,000                             1,942,000,000   1,942,000,000                                                                    
Business Acquisition, Purchase Price Allocation, Pension Regulatory Asset                                       740,000,000   740,000,000                                                                                                      
Business Acquisition, Purchase Price Allocation, Other Noncurrent Assets                                       2,668,000,000   2,668,000,000                             1,266,000,000   1,266,000,000                                                                    
Business Acquisition, Purchase Price Allocation, Assets Acquired                                       23,201,000,000   23,201,000,000                             14,469,000,000   14,469,000,000                                                                    
Business Acquisition, Purchase Price Allocation, Current Liabilities                                       3,431,000,000   3,431,000,000                             2,798,000,000   2,798,000,000                                                                    
Business Acquisition, Purchase Price Allocation, Other Noncurrent Liabilities                                       4,553,000,000   4,553,000,000                             1,837,000,000   1,837,000,000                                                                    
Business Acquisition, Purchase Price Allocation, Liability Contracts                                       1,722,000,000   1,722,000,000                             1,512,000,000   1,512,000,000                                                                    
Business Acquisition, Purchase Price Allocation, Noncurrent Liabilities, Long-term Debt                                       6,038,000,000   6,038,000,000                             2,972,000,000   2,972,000,000                                                                    
Business Combination Acquisition Of Less Than 100 Percent Noncontrolling Interest Fair Value                                       92,000,000   92,000,000                             92,000,000   92,000,000                                                                    
Business Acquisition, Purchase Price Allocation, Liabilities Assumed                                       15,836,000,000   15,836,000,000                             9,211,000,000   9,211,000,000                                                                    
Business Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities Assumed), Net                                       7,365,000,000   7,365,000,000                             5,258,000,000   5,258,000,000                                                                    
Business Acquisition, Impact Of Merger [Abstract]                                                                                                                                                  
Revenues 6,565,000,000 5,254,000,000 17,205,000,000 14,705,000,000                                       4,017,000,000 2,821,000,000 10,509,000,000 7,919,000,000                             1,484,000,000 1,784,000,000 4,154,000,000 4,694,000,000           806,000,000 946,000,000 2,396,000,000 2,942,000,000         720,000,000 745,000,000 2,032,000,000 2,394,000,000                      
Revenues Impact                                                                                                                     720,000,000   1,388,000,000                        
Net Income Loss Impact                                                                                                                         (49,000,000)                        
Net income 297,000,000 602,000,000 787,000,000 1,892,000,000                                       87,000,000 386,000,000 419,000,000 1,325,000,000                             90,000,000 112,000,000 219,000,000 295,000,000           123,000,000 105,000,000 300,000,000 314,000,000         0 2,000,000 (14,000,000) 99,000,000                      
Business Acquisition, Pro Forma Information [Abstract]                                                                                                                                                  
Business Acquisition, Pro Forma Revenue                                       6,841,000,000 8,219,000,000 [2] 20,084,000,000 23,839,000,000 [2]                           4,293,000,000 5,133,000,000 [3] 12,753,000,000 14,996,000,000 [3]                                                                  
Business Acquisition, Pro Forma Net Income (Loss)                                       492,000,000 379,000,000 [2] 1,439,000,000 1,119,000,000 [2]                           282,000,000 163,000,000 [3] 805,000,000 690,000,000 [4]                                                                  
Business Acquisition, Pro Forma Earnings Per Share, Basic                                       $ 0.58 $ 0.45 [2] $ 1.79 $ 1.32 [2]                                                                                                    
Business Acquisition, Pro Forma Earnings Per Share, Diluted                                       $ 0.57 $ 0.44 [2] $ 1.79 $ 1.31 [2]                                                                                                    
Business Acquisition, Pro Forma Nonrecurring Cost                                         74,000,000   242,000,000                             69,000,000   318,000,000                                                                  
Business Acquisition, Regulatory Matters [Abstract]                                                                                                                                                  
Business Acquisition, Direct Investment With State And Local Governments Due To Settlement                                       1,000,000,000   1,000,000,000                                                                                                      
Business Acquisition, Costs Recognized Post Merger [Abstract]                                                                                                                                                  
Business Acquisition, Regulatory Rate Credit Per Customer                                                                                                                         100                        
BGE rate credit of $100 per residential customer     113,000,000                                                                                                                   113,000,000                        
Customer investment fund to invest in energy efficiency and low-income energy assistance to BGE customers     113,500,000                                                                                                                                            
Contribution for renewable energy, energy efficiency or related projects in Baltimore     2,000,000                                                                                                                                            
Charitable contributions at $7 million per year for 10 years     70,000,000                                             35,000,000                                                                     28,000,000                        
State funding for offshore wind development projects     32,000,000                                                                                                                                            
Miscellaneous tax benefits     (2,000,000)                                                                                                                   (2,000,000)                        
Total     328,500,000                                             35,000,000                                                                     139,000,000                        
Business Acquisition Charitable Contributions Per Year     7,000,000                                                                                                                                            
Business Acquisition, Costs Recognized Post Merger Footnotes [Abstract]                                                                                                                                                  
Business Acquisition, Equity Contribution                                                                                                                         66,000,000                        
Business Acquisition, Construction Cost                                   95,000,000 120,000,000                                                                                                            
Business Acquisition, Construction Time Frame                                   2 3                                                                                                            
Business Acquisition, Development Of New Generation Cost                                       625,000,000   625,000,000                                                                                                      
Business Acquisition, Expected New Generation Mwh                                   285 300                                                                                                            
Business Acquisition, Expected New Generation Development Time Frame                                                                                                                                       10          
Business Acquisition, Divesture Wattage                                           2,648                                                                                                      
Business Acquisition, Divesture Sales Days                                           150                                                                                                      
Business Acquisition, Divesture Sales Days Extension                                           30                                                                                                      
Business Acquisition, Proceeds Assets Held For Sale 356,000,000   356,000,000                                 366,000,000   366,000,000                                                                                                      
Business Acquisition, Gain (Loss) On Sale Of Assets Held For Sale (278,000,000)   (278,000,000)                                 (268,000,000)   (268,000,000)                                                                                                      
Business Acquisition, Fair Value of Assets Held For Sale 339,000,000   339,000,000                                                                                                                                            
DOE Loan Receipt                                                                                 69,000,000                                                                
Business Acquisition, Equity Interests Issued or Issuable [Line Items]                                                                                                                                                  
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares                               187,450,000 [4] 11,300,000                                                                                                                
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned                             7,365,000,000 7,294,000,000 [4] 71,000,000                                                                                                                
Business Acquisition, Equity Interest Issued Or Issuable, Exchange Ratio                             0.930                                                                                                                    
Business Acquisition, Equity Interest Issued or Issuable, Stock Price                               38.91                                                                                                                  
Business Acquisition, Equity Interest Issued Or Issuable, Stock Withheld                               700,000                                                                                                                  
Restructuring Reserve [Roll Forward]                                                                                                                                                  
Restructuring Reserve, Period Start           118,000,000 0                                             30,000,000 0                             2,000,000 0               0 0             12,000,000 0                  
Severance Charges 8,000,000   117,000,000                                         4,000,000   68,000,000                               1,000,000   16,000,000 [5]             1,000,000   8,000,000           1,000,000   18,000,000 [6]                        
Stock Compensation Expense 3,000,000   6,000,000                                         2,000,000   4,000,000                               1,000,000   1,000,000 [5]                                                          
Other Expense Charges     7,000,000                                             4,000,000                                   1,000,000 [5]                                 1,000,000 [6]                        
Total Severance Benefits 11,000,000   130,000,000                                         6,000,000 [7]   76,000,000 [7]                               2,000,000 [7]   18,000,000 [5],[7]             1,000,000 [7]   8,000,000 [7]           1,000,000 [7]   19,000,000 [6],[7]                        
Restructuring Reserve, Period Expense         83,000,000     7,000,000 [8] 114,000,000 [8] 1,000,000 [9] 3,000,000 [9] 3,000,000 6,000,000 7,000,000 [10]                           1,000,000 [4] 1,000,000 [5]     4,000,000 [8] 31,000,000 [8] 1,000,000 2,000,000 2,000,000 [10]                       2,000,000 [8]                                 11,000,000 [8] 1,000,000 [10]              
Payments           9,000,000 10,000,000                                 2,000,000   2,000,000                                                                 1,000,000   1,000,000                        
Restructuring Reserve, Intercompany Allocation                                                           0 40,000,000                             2,000,000 16,000,000               1,000,000 8,000,000             1,000,000 7,000,000                  
Restructuring Reserve, Period End           120,000,000 120,000,000                                             34,000,000 34,000,000                             2,000,000 2,000,000               0 0             11,000,000 11,000,000                  
Merger related regulatory asset                                                                                             34,000,000                                 22,000,000                  
Merger related severance regulatory asset                                                                                             $ 18,000,000                                 $ 19,000,000                  
[1] Includes the fair value of BGE's power and gas supply contracts for which an offsetting regulatory asset was also recorded
[2] 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.
[3] 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.
[4] 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.
[5] 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.
[6] 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.
[7] 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.
[8] Includes salary continuance and health and welfare severance benefits. Amounts represent ongoing severance plan benefits.
[9] One-time termination benefits began to be recognized in the second quarter of 2012.
[10] Primarily includes life insurance, employer payroll taxes, educational assistance, and outplacement services.