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Retirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2012
Retirement Benefits Tables [Abstract]  
Schedule Of Pension And Other Postretirement Participation [Text Block]
  Operating Company
Name of Plan:Generation ComEd PECO BGE BSC
Qualified Pension Plans:         
Exelon Corporation Retirement ProgramX X X   X
Exelon Corporation Cash Balance Pension PlanX X X   X
Exelon Corporation Pension Plan for          
 Bargaining Unit EmployeesX X     X
Exelon New England Union Employees Pension PlanX        
Exelon Employee Pension Plan for Clinton,         
 TMI and Oyster CreekX X     X
Pension Plan of Constellation Energy Group, Inc.X     X X
BG New England Union Employees Pension PlanX        
           
Non-Qualified Pension Plans:         
Exelon Corporation Supplemental Pension Benefit Plan          
 and 2000 Excess Benefit PlanX X X   X
Exelon Corporation Supplemental Management          
 Retirement PlanX X X   X
Benefits Restoration Plan of Constellation Energy Group X     X X
Senior Executive Supplemental Pension PlanX     X X
           
Other Postretirement Benefit Plans:         
PECO Energy Company Retiree Medical PlanX   X   X
Exelon Corporation Health Care ProgramX X     X
Exelon Corporation Employees' Life Insurance PlanX X X   X
Constellation Energy Group, Inc. Retiree Medical Plan X     X X
Constellation Energy Group, Inc. Retiree Dental PlanX     X X
Constellation Energy Group, Inc. Life Insurance Plan         
  and Family Life Insurance PlanX     X  
BG New England Post-Employment Medical Savings         
 Account PlanX        
Defined Benefit Plan Change In Benefit Obligation RollForward [Text Block]
       Other
 Pension Benefits Postretirement Benefits
 2012 2011 2012 2011
Change in benefit obligation:           
Net benefit obligation at beginning of year$13,538 $12,524 $4,062 $3,874
Service cost 280  212  156  142
Interest cost 698  649  205  207
Plan participants’ contributions 0  0  34  25
Actuarial loss 1,520  807  313  4
Plan amendments  0  0   (103)   —
Acquisitions/divestitures 1,880      362   
Curtailments (10)  0   (8)   —
Settlements (169)  0   —   —
Contractual termination benefits 15  0   6   —
Gross benefits paid (952)  (654)   (219)   (201)
Federal subsidy on benefits paid  —   —   12   11
            
Net benefit obligation at end of year$16,800 $13,538 $4,820 $4,062
            
Change in plan assets:           
Fair value of net plan assets at beginning of year$11,302 $8,859 $1,797 $1,655
Actual return on plan assets 1,484  1,003  197  29
Employer contributions 149  2,094  325  277
Plan participants’ contributions 0  0  34  25
Benefits paid (a) (952)  (654)  (218)  (189)
Acquisitions/divestitures 1,543   —  0   —
Settlements (169)   —  0   —
            
Fair value of net plan assets at end of year$13,357 $11,302 $2,135 $1,797
Defined Benefit Plan Pension Plans With Projected Benefit Obligations And Accumulated Benefit Obligations In Excess Of Plan Assets [Text Block]
 PBO in excess of plan assets
 2012 2011
      
Projected benefit obligation$16,800 $13,538
Fair value of net plan assets 13,357  11,302
      
      
 ABO in excess of plan assets
 2012 2011
      
Projected benefit obligation$16,796 $13,538
Accumulated benefit obligation 15,657  12,616
Fair value of net plan assets 13,353  11,302
Schedule of Defined Benefit Plans Disclosures [Text Block]
   Pension Benefits Other Postretirement Benefits
   2012 2011 2010 2012 2011 2010
Components of net periodic benefit                  
 cost:                  
Service cost$280 $212 $190 $156 $142 $124
Interest cost 698  649  660  205  207  214
Expected return on assets (988)  (939)  (799)  (115)  (111)  (109)
Amortization of:                 
 Transition obligation  —   —   —  11  9  9
 Prior service cost (credit) 15  14  14  (17)  (38)  (56)
 Actuarial loss 450  331  254  81  66  74
Curtailment charges  —  0  0   (7)   —   —
Settlement charges  31  0  5   —   —   —
Contractual termination benefits (a)  14   —   —   6   —   1
                    
Net periodic benefit cost$500 $267 $324 $320 $275 $257
Prescription Drug Benefit Reduction In Accumulated Postretirement Benefit Obligation For Subsidy [Text Block]
 2012 2011 2010
         
Amortization of the actuarial experience loss$(17) $3 $9
Reduction in current period service cost 0  9  10
Reduction in interest cost on the APBO 0  16  19
         
Total effect of subsidy on net periodic postretirement benefit cost$(17) $28 $38
Changes In Plan Assets And Benefit Obligations Recognized In OCI And Regulatory Assets [Text Block]

(a)       Exelon's other postretirement benefits paid for the years ended December 31, 2012 and 2011 are net of $1.3 million and $12 million, respectively, of reinsurance proceeds received from the Department of Health and Human Services as part of the Early Retiree Reinsurance Program pursuant to the Affordable Care Act of 2010.

 

   Pension Benefits Other Postretirement Benefits
   2012 2011 2010 2012 2011 2010
Changes in plan assets and benefit                 
 obligations recognized in AOCI                  
 and regulatory assets:                 
Current year actuarial (gain) loss$ 1,693 $ 744 $ 737 $ 304 $ 74 $ —
Amortization of actuarial gain (loss)  (450)   (331)   (254)   (81)   (66)   (74)
Current year prior service (credit) cost  1   —   —   (109)   —   —
Amortization of prior service (cost)                 
 credit  (15)   (14)   (14)   17   38   56
Current year transition (asset) obligation  —         1      
Amortization of transition asset                 
 (obligation)  —   —   —   (11)   (9)   (9)
Curtailments  (10)   —   —   (1)   —   —
Settlements  (31)   —   (5)   —   —   —
                    
Total recognized in AOCI and                  
 regulatory assets (a)$ 1,188 $ 399 $ 464 $ 120 $ 37 $ (27)

Of the $1,188 million related to pension benefits, $283 million and $904 million were recognized in AOCI and regulatory assets, respectively, during 2012. Of the $120 million related to other postretirement benefits, $39 million and $81 million were recognized in AOCI and regulatory assets, respectively, during 2012. Of the $399 million related to pension benefits, $181 million and $218 million were recognized in AOCI and regulatory assets, respectively, during 2011. Of the $37 million related to other postretirement benefits, $13 million and $24 million were recognized in AOCI and regulatory assets, respectively, during 2011. Of the $464 million related to pension benefits, $310 million and $154 million were recognized in AOCI and regulatory assets, respectively, during 2010. Of the $(27) million related to other postretirement benefits, $(9) million and $(18) million were recognized in AOCI and regulatory assets, respectively, during 2010.

 
Changes In Plan Assets And Benefit Obligations Not Recognized In OCI And Regulatory Assets [Text Block]
 Pension Benefits Other Postretirement Benefits
 2012 2011 2012 2011
Transition obligation$ — $ — $ — $ 11
Prior service cost (credit) 76  90  (107)  (16)
Actuarial loss 7,931  6,729  1,185  963
            
Total (a)$8,007 $6,819 $1,078 $958

 

(a)       Of the $8,007 million related to pension benefits, $4,594 million and $3,413 million are included in AOCI and regulatory assets, respectively, at December 31, 2012. Of the $1,078 million related to other postretirement benefits, $514 million and $564 million are included in AOCI and regulatory assets, respectively, at December 31, 2012. Of the $6,819 million related to pension benefits, $4,311 million and $2,508 million are included in AOCI and regulatory assets, respectively, at December 31, 2011. Of the $958 million related to other postretirement benefits, $475 million and $483 million are included in AOCI and regulatory assets, respectively, at December 31, 2011.

 
Defined Benefit Plan Amounts That Will Be Amortized From Accumulated Other Comprehensive Income Loss And Regulatory Assets In Next Fiscal Year [Text Block]
  Pension Benefits Other Postretirement Benefits
Prior service cost (credit) $ 14 $(19)
Actuarial loss   568  84
       
Total (a) $582 $65

 

(a)       Of the $582 million related to pension benefits at December 31, 2012, $315 million and $267 million are expected to be amortized from AOCI and regulatory assets in 2013, respectively. Of the $65 million related to other postretirement benefits at December 31, 2012, $29 million and $36 million are expected to be amortized from AOCI and regulatory assets in 2013, respectively.

 
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Benefit Obligation [Text Block]
   Pension Benefits Other Postretirement Benefits
   2012 2011 2010 2012 2011 2010
Discount rate3.92% 4.74% 5.26% 4.00% 4.80% 5.30%
Rate of compensation increase(a) 3.75% 3.75% (a) 3.75% 3.75%
Mortality tableIRS required mortality table for 2013 funding valuation IRS required mortality table for 2012 funding valuation IRS required mortality table for 2011 funding valuation IRS required mortality table for 2013 funding valuation IRS required mortality table for 2012 funding valuation IRS required mortality table for 2011 funding valuation
Health care cost trend on covered chargesN/A N/A N/A 6.50% decreasing to ultimate trend of 5.00% in 2017 6.50% decreasing to ultimate trend of 5.00% in 2017 7.00% decreasing to ultimate trend of 5.00% in 2015
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Net Periodic Benefit Cost [Text Block]
   Pension Benefits Other Postretirement Benefits
   2012 2011 2010 2012 2011 2010
Discount rate3.71% (a) 5.26% 5.83% 3.72% (a) 5.30% 5.83%
Expected return on plan assets7.50% (b) 8.00% (b) 8.50% (b) 6.68% (b) 7.08% (b) 7.83% (b)
Rate of compensation increase3.75% 3.75% 4.00% 3.75% 3.75% 4.00%
Mortality tableIRS required mortality table for 2012 funding valuation IRS required mortality table for 2011 funding valuation IRS required mortality table for 2010 funding valuation IRS required mortality table for 2012 funding valuation IRS required mortality table for 2011 funding valuation IRS required mortality table for 2010 funding valuation
Health care cost trend on covered chargesN/A N/A N/A 6.50% decreasing to ultimate trend of 5.00% in 2017 7.00% decreasing to ultimate trend of 5.00% in 2015 7.50% decreasing to ultimate trend of 5.00% in 2015

 

(a)       The initial discount rates used to establish Exelon's pension and other postretirement benefits costs for 2012 were 4.74% and 4.80%, respectively. Certain of the benefit plans were remeasured during the year due to the Constellation merger, plan settlement and curtailment events, and plan changes using discount rates within the indicated ranges. 2012 costs reflect the impact of these remeasurements.

(b)       Not applicable to pension and other postretirement benefit plans that do not have plan assets.

 
Pension And Other Postretirement Benefit Contributions [Text Block]
 Pension Benefits Other Postretirement Benefits
 2012 2011 2010 2012 (a) 2011 (a) 2010 (a)
Generation$48 $954 $356 $135 $121 $94
ComEd 25  873  260  119  108  60
PECO 13  110  73  33  28  35
BGE (b) 0  0  0  12  0  0
BSC 63  157  77  24  20  14
                  
Exelon$149 $2,094 $766 $323 $277 $203

(a)       The Registrants present the cash contributions above net of Federal subsidy payments received on each of their respective Consolidated Statements of Cash Flows. Exelon, Generation, ComEd, PECO, and BGE received Federal subsidy payments of $10 million, $5 million, $4 million, $1 million and $2 million, respectively, in 2012, $11 million, $5 million, $4 million, $1 million and $3 million, respectively, in 2011, and $10 million, $5 million, $3 million, $2 million and $2 million, respectively, in 2010.

(b)       BGE's pension benefit contributions for 2012, 2011, and 2010 exclude $0 million, $54 million, and $197 million, respectively, of pension contributions made by BGE prior to the closing of Exelon's merger with Constellation on March 12, 2012. BGE's other postretirement benefit payments for 2012, 2011, and 2010 exclude $4 million, $13 million, and $17 million, respectively, of other postretirement benefit payments made by BGE prior to the closing of Exelon's merger with Constellation on March 12, 2012. These pre-merger contributions are not included in Exelon's financial statements but are reflected in BGE's financial statements.

 
Defined Benefit Plan Estimated Future Benefit Payments [Text Block]
    Other Postretirement
 Pension Benefits Benefits
2013$943 $197
2014 807  204
2015 891  212
2016 868  220
2017 902  231
2018 through 2022 5,161  1,330
      
Total estimated future benefit payments through 2022$9,572 $2,394
Schedule Of Pension And Other Postretirement Benefit Costs [Text Block]
                 
For the Year Ended December 31, Generation  ComEd  PECO  BSC (a)  BGE (b)(c) Exelon
                   
2012 $341 $282 $50 $99 $60 $820
2011  249  213  32  48  51  542
2010  268  215  46  52  48  581

___________________       

 

  • These amounts primarily represent amounts billed to Exelon's subsidiaries through intercompany allocations.
  • The amounts included in capital and operating and maintenance expense for the years ended 2012, 2011, and 2010 include $12 million, $51 million, and $48 million, respectively, in costs incurred prior to the closing of Exelon's merger with Constellation on March 12, 2012. These amounts are not included in Exelon's capital and operating and maintenance expense for the years ended 2012, 2011, and 2010.
  • BGE's pension and other postretirement benefit costs for the year ended December 31, 2012 include a $3 million contractual termination benefit charge, which was recorded as a regulatory asset.

 

 
Defined Benefit Plan Weighted Average Asset Allocations And Target Allocations [Text Block]
Pension Plans   Percentage of Plan Assets 
    at December 31, 
Asset CategoryTarget Allocation 2012 2011
          
Equity securities34%  35%  32%
Fixed income securities40%  40   47 
Alternative investments (a)26%  25   21 
          
Total    100%  100%
          
Other Postretirement Benefit Plans   Percentage of Plan Assets 
    at December 31, 
Asset CategoryTarget Allocation 2012 2011
          
Equity securities45%  46%  37%
Fixed income securities40%  40   53 
Alternative investments (a)15%  14   10 
          
Total    100%  100%

 

(a) Alternative investments include private equity, hedge funds and real estate.

 
Defined Benefit Plan Fair Value Of Plan Assets [Text Block]
At December 31, 2012 (a)Level 1 Level 2 Level 3 Total
             
Pension plan assets           
 Cash equivalents$ 1 $0 $0 $ 1
 Equity securities:           
  Individually held   2,562  0  0   2,562
  Commingled funds  0  1,111  0   1,111
  Mutual funds (c)  323  0  0   323
 Equity securities subtotal  2,885   1,111  0   3,996
 Fixed income securities:           
  Debt securities issued by the U.S. Treasury and           
  other U.S. government corporations and agencies   1,037  0  0   1,037
  Debt securities issued by states of the United States            
  and by political subdivisions of the states  0  108  0   108
  Foreign debt securities 0  252  0   252
  Corporate debt securities  0  3,330  0   3,330
  Federal agency mortgage-backed securities  0  117  0   117
  Non-Federal agency mortgage-backed securities  0  28  0   28
  Commingled funds  0  274  0   274
  Mutual funds (c)  4  291  0   295
  Derivative instruments (b):           
  Assets 0  9  0   9
  Liabilities 0  (21)  0   (21)
 Fixed income securities subtotal  1,041   4,388  0   5,429
 Private equity 0  0  754   754
 Hedge funds 0  1,080  1,235   2,315
 Real estate:           
  Individually held  280  0  0   280
  Commingled funds 0  75  0   75
  Real estate funds 0  0  426   426
 Real estate subtotal  280   75   426   781
Pension plan assets subtotal  4,207   6,654   2,415   13,276
             
Other postretirement benefit plan assets           
 Cash equivalents  44  0  0   44
 Equity securities:           
  Individually held   198  0  0   198
  Commingled funds  0  530  0   530
  Mutual funds (c)  230  0  0   230
 Equity securities subtotal  428   530  0   958
 Fixed income securities:           
  Debt securities issued by the U.S. Treasury and           
  other U.S. government corporations and agencies   18  0  0   18
  Debt securities issued by states of the United States            
  and by political subdivisions of the states  0  125  0   125
  Foreign debt securities 0  3  0   3
  Corporate debt securities  0  50  0   50
  Federal agency mortgage-backed securities  0  52  0   52
  Non-Federal agency mortgage-backed securities  0  6  0   6
  Commingled funds  0  271  0   271
  Mutual funds (c)  295  2  0   297
 Fixed income securities subtotal  313   509  0   822
 Private equity 0  0  1   1
 Hedge funds 0  188  12   200
 Real estate:           
  Individually held  7  0  0   7
  Commingled funds 0  2  0   2
  Real estate funds 0  6  95   101
 Real estate subtotal  7   8   95   110
Other postretirement benefit plan assets subtotal  792   1,235   108   2,135
             
Total pension and other postretirement            
 benefit plan assets (d) (e)$ 4,999 $ 7,889 $ 2,523 $ 15,411
             
At December 31, 2011 (a)Level 1 Level 2 Level 3 Total
             
Pension plan assets           
 Cash equivalents$ 8 $0 $0 $ 8
 Equity securities:           
  Individually held   1,985  0  0   1,985
  Commingled funds  0   858  0   858
  Mutual funds 0   389  0   389
 Equity securities subtotal  1,985   1,247  0   3,232
 Fixed income securities:           
  Debt securities issued by the U.S. Treasury and           
  other U.S. government corporations and agencies   1,616   48  0   1,664
  Debt securities issued by states of the United States            
  and by political subdivisions of the states  0   88  0   88
  Foreign debt securities 0   224  0   224
  Corporate debt securities  0   2,561  0   2,561
  Federal agency mortgage-backed securities  0   156  0   156
  Non-Federal agency mortgage-backed securities  0   28  0   28
  Commingled funds  0   202  0   202
  Mutual funds 0   277  0   277
 Fixed income securities subtotal  1,616   3,584  0   5,200
 Private equity 0  0   672   672
 Hedge funds (f) 0  0  1,525  1,525
 Real estate:           
  Individually held  207  0  0  207
  Commingled funds  0  125  0  125
  Real estate funds 0  0   229   229
 Real estate subtotal  207   125   229   561
Pension plan assets subtotal  3,816   4,956   2,426   11,198
             
Other postretirement benefit plan assets           
 Cash equivalents  73  0  0  73
 Equity securities:           
  Individually held   110  0  0   110
  Commingled funds  0   415  0   415
  Mutual funds 0   171  0   171
 Equity securities subtotal  110   586  0   696
 Fixed income securities:           
  Debt securities issued by the U.S. Treasury and           
  other U.S. government corporations and agencies   26   3  0   29
  Debt securities issued by states of the United States            
  and by political subdivisions of the states  0   93  0   93
  Foreign debt securities 0   4  0   4
  Corporate debt securities  0   41  0   41
  Federal agency mortgage-backed securities  0   34  0   34
  Non-Federal agency mortgage-backed securities  0   7  0   7
  Commingled funds 0   385  0   385
  Mutual funds 0   256  0   256
 Fixed income securities subtotal  26   823  0   849
 Private equity 0  0   1   1
 Hedge funds (f) 0  0   157   157
 Real estate           
  Individually held  4  0  0  4
  Commingled funds  0  1  0  1
  Real Estate funds  0  0  7  7
 Real estate subtotal  4   1   7   12
Other postretirement benefit plan assets subtotal  213   1,410   165   1,788
             
Total pension and other postretirement            
 benefit plan assets (d)$ 4,029 $ 6,366 $ 2,591 $ 12,986

 

  • See Note 9 - Fair Value of Assets and Liabilities for a description of levels within the fair value hierarchy.
  • Derivative instruments have a total notional amount of $2,498 million and $910 million at December 31, 2012 and 2011, respectively. The notional principal amounts for these instruments provide one measure of the transaction volume outstanding as of the fiscal years ended and do not represent the amount of the company's exposure to credit or market loss.
  • In 2012, Exelon reassessed its policy over the criteria that mutual fund investments must meet in order to be categorized within Level 1 of the fair value hierarchy. Therefore, certain mutual fund investments that were categorized within Level 2 in prior periods have been re-categorized as Level 1 investments as of December 31, 2012. The re-categorization of these mutual fund investments resulted in a transfer out of Level 2 of $852 million.
  • Excludes net assets of $77 million and $43 million at December 31, 2012 and 2011 respectively, which are required to reconcile to the fair value of net plan assets. These items consist primarily of receivables related to pending securities sales, interest and dividends receivable, and payables related to pending securities purchases.
  • Includes fixed income commingled fund assets of $66 million as of December 31, 2012. The fair value of these fixed income commingled fund assets of $69 million, as of December 31, 2011, are excluded from the tables above.
  • In 2012, Exelon refined its policy over the criteria that hedge fund investments must meet in order to be categorized within Level 2 and Level 3 of the fair value hierarchy. Therefore, certain hedge fund investments that were categorized within Level 3 in prior periods have been re-categorized as Level 2 investments as of December 31, 2012. The re-categorization of these hedge fund investments is reflected as transfers out of Level 3 of $1.1 billion.

 
Defined Benefit Plan Fair Value Of Plan Assets Unobservable Input Reconciliation [Text Block]
           
 Hedge funds Private equity Real estate Total
              
Pension Assets           
Balance as of January 1, 2012$ 1,525 $ 672 $ 229 $ 2,426
Actual return on plan assets:            
 Relating to assets still held at the reporting date  138   55   24   217
Purchases, sales and settlements:           
 Purchases  447   108   134   689
 Sales  (6)  0  0  (6)
 Settlements  (4)   (128)   (28)  (160)
Transfers into (out of) Level 3(a) (b) (c)   (865)   47   67  (751)
              
Balance as of December 31, 2012$ 1,235 $ 754 $ 426 $ 2,415
              
Other Postretirement Benefits           
Balance as of January 1, 2012$ 157 $1 $ 7 $ 165
Actual return on plan assets:            
 Relating to assets still held at the reporting date  11  0   3  14
Purchases, sales and settlements:           
 Purchases  32  0   91   123
 Sales 0  0  0  0
 Settlements 0  0   (1)   (1)
Transfers into (out of) Level 3 (a) (b) (c)   (188)  0   (5)   (193)
              
Balance as of December 31, 2012$ 12 $ 1 $ 95 $ 108
              
           
 Hedge funds Private equity Real estate Total
              
Pension Assets           
Balance as of January 1, 2011$ 329 $ 536 $ 179 $ 1,044
Actual return on plan assets (d):            
 Relating to assets still held at the reporting date  (26)   84   46   104
Purchases, sales and settlements (d):           
 Purchases  1,222   121   13   1,356
 Sales 0  0  0  0
 Settlements 0  (69)  (9)  (78)
Transfers into (out of) Level 3 0  0  0  0
              
Balance as of December 31, 2011$ 1,525 $ 672 $ 229 $ 2,426
              
Other Postretirement Benefits           
Balance as of January 1, 2011$ 5 $0 $ 8 $13
Actual return on plan assets:            
 Relating to assets still held at the reporting date  (3)  0   (1)   (4)
Purchases, sales and settlements:           
 Purchases  155   1  0   156
 Sales 0  0  0  0
 Settlements 0  0  0  0
Transfers into (out of) Level 3 0  0  0  0
              
Balance as of December 31, 2011$ 157 $1 $ 7 $ 165

  • In connection with the acquisition of Constellation in March 2012, Exelon assumed Constellation's pension plan assets resulting in transfers into Level 3 of $141 million.
  • In 2012, Exelon refined its policy over the criteria that hedge fund investments must meet in order to be categorized within Level 2 and Level 3 of the fair value hierarchy. Therefore, certain hedge fund investments that were categorized within Level 3 in prior periods have been re-categorized as Level 2 investments as of December 31, 2012. The re-categorization of these hedge fund investments is reflected as transfers out of Level 3 of $1.1 billion.
  • In 2012, the liquidity terms of a certain real estate investment changed to allow redemption within a reasonable period of time from the redemption date which led to a transfer out of Level 3 to Level 2 of $5 million.
  • Certain prior year amounts have been reclassified for comparative purposes.

 
Schedule Of Defined Contributions [Text Block]
For the Year Ended December 31,  Exelon  Generation  ComEd  PECO  BGE
                
2012 $67 $30 $19 $7 $7
2011  78  40  22  9  7
2010  81  42  22  9  6