New Accounting Pronouncements (Exelon, Generation, ComEd and PECO)

12 Months Ended

Dec. 31, 2012

New Accounting Pronouncements And Changes In Accounting Principles Abstract

Schedule Of New Accounting Pronouncements And Changes In Accounting Principles [Text Block]

New Accounting Pronouncements (Exelon, Generation, ComEd, PECO and BGE)

Exelon has identified the following new accounting pronouncements that have been recently adopted or issued that may affect the Registrants.

Fair Value Measurement

In May 2011, the FASB issued authoritative guidance amending existing guidance for measuring fair value and for disclosing information about fair value measurements. The new guidance does not impact the fair value measurements included in the Registrant's Consolidated Financial Statements as of December 31, 2012. The guidance was effective for the Registrants beginning with the period ended March 31, 2012 and was required to be applied prospectively. The Company updated the existing fair value disclosures during the first quarter of 2012 to comply with the new requirements for this standard.See Note 9 – Fair Value of Financial Assets and Liabilities for new disclosures.

Statement of Comprehensive Income

In June 2011, the FASB issued authoritative guidance requiring entities to present net income and other comprehensive income in a single continuous statement of comprehensive income or in two separate, but consecutive, statements. The new guidance does not change the components that are recognized in net income and the components that are recognized in other comprehensive income. This guidance became effective for the Registrants for periods beginning after December 15, 2011 and was required to be applied retroactively. Each of the Registrants currently presents a single statement of comprehensive income, consistent with the new guidance.

Presentation of Items Reclassified out of Accumulated Other Comprehensive Income

In February 2013, the FASB issued authoritative guidance requiring entities to present either in the notes or parenthetically on the face of the financial statements, reclassifications from each component of accumulated other comprehensive income and the impacted income statement line items. Entities only need to disclose the impacted income statement line item for components reclassified to net income in their entirety; otherwise, a cross-reference to the related note should be provided. This guidance is effective for the Registrants for periods beginning after December 15, 2012 and is required to be applied prospectively. As this guidance provides only disclosure requirements, the adoption of this standard will not impact the Registrants' results of operations, cash flows or financial positions.

Disclosures About Offsetting Assets and Liabilities

In December 2011 (and amended in January 2013), the FASB issued authoritative guidance requiring entities to disclose both gross and net information about recognized derivative instruments, including bifurcated embedded derivatives, repurchase and reverse repurchase agreements, and securities borrowing or lending transactions that are offset on the balance sheet or subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset on the balance sheet.This guidance is effective for the Registrants for periods beginning on or after January 1, 2013 and is requiredto be applied retrospectively. This guidance is primarily applicable to certain derivative transactions for Exelon and Generation. As this guidance provides only disclosure requirements, the adoption of this standard will not impact the Registrants' results of operations, cash flows or financial positions.