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Supplemental Financial Information (Exelon, Generation, ComEd, PECO and BGE)
 3 Months Ended
Mar. 31, 2013
Supplemental Financial Information Tables [Line Items]  
Supplemental Financial Information (Exelon, Generation, ComEd, PECO and BGE)

18. 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 for the three months ended March 31, 2013 and 2012:

 

                  
Three Months Ended March 31, 2013Exelon Generation ComEd PECO BGE 
Other, Net               
Decommissioning-related activities:               
 Net realized income on decommissioning trust funds (a)               
  Regulatory Agreement Units$36 $36 $0 $0 $0 
  Non-Regulatory Agreement Units 14  14  0  0  0 
 Net unrealized gains on decommissioning trust funds               
  Regulatory Agreement Units  195  195  0  0  0 
  Non-Regulatory Agreement Units 64  64  0  0  0 
 Net unrealized gains on pledged assets               
  Zion Station decommissioning 2  2  0  0  0 
 Regulatory offset to decommissioning trust fund-related               
  activities(b) (190)  (190)  0  0  0 
Total decommissioning-related activities 121  121  0  0  0 
Investment income (expense) 3  (2)  0  0  2(c)
Long-term lease income  8  0  0  0  0 
Interest income related to uncertain income tax positions 25  5  0  0  0 
AFUDC - Equity 6  0  3  1  2 
Other  9  4  2  2  1 
                  
Other, net $172 $128 $5 $3 $5 
                

Three Months Ended March 31, 2012Exelon Generation ComEd PECO BGE 
Other, Net               
Decommissioning-related activities:               
 Net realized income on decommissioning trust funds (a)                
  Regulatory Agreement Units$60 $60 $0 $0 $0 
  Non-Regulatory Agreement Units 48  48  0  0  0 
 Net unrealized gains on decommissioning trust funds                
  Regulatory Agreement Units 247  247  0  0  0 
  Non-Regulatory Agreement Units 65  65  0  0  0 
 Net unrealized gains on pledged assets                
  Zion Station decommissioning 35  35  0  0  0 
 Regulatory offset to decommissioning trust fund-related               
  activities (b) (277)  (277)  0  0  0 
Total decommissioning-related activities 178  178  0  0  0 
Investment income 4  0  1  1  3(c)
Long-term lease income 7  0  0  0  0 
AFUDC - Equity 3  0  1  1  3 
Other  2  0  2  0  0 
                  
Other, net $194 $178 $4 $2 $6 

__________

(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 income taxes related to all NDT fund activity for those units. See Note 13 of the Exelon 2012 Form 10-K for additional information regarding the accounting for nuclear decommissioning.

(c)       Relates to the cash return on BGE's rate stabilization deferral. See Note 5 - Regulatory Matters for additional information regarding the rate stabilization deferral.

 

Supplemental Cash Flow Information

 

The following tables provide additional information regarding the Registrants' Consolidated Statements of Cash Flows for the three months ended March 31, 2013 and 2012:

Three Months Ended March 31, 2013Exelon Generation ComEd PECO BGE
Depreciation, amortization, accretion and depletion              
Property, plant and equipment$471 $203 $137 $55 $64
Regulatory assets 61  0  30  2   29
Amortization of intangible assets, net 11  11  0  0  0
Amortization of energy contract assets and liabilities (a) 176  176  0  0  0
Nuclear fuel(a) 230  230  0  0  0
ARO accretion(b) 68  68  0  0  0
                
Total depreciation, amortization, accretion and depletion$1,017 $688 $167 $57 $93
                
Three Months Ended March 31, 2012Exelon Generation ComEd PECO BGE
Depreciation, amortization, accretion and depletion              
Property, plant and equipment$354 $150 $131 $51 $61
Regulatory assets 25  0  18  2  18
Amortization of intangible assets, net 3  3  0  0  0
Amortization of energy contract assets and liabilities (a) 131  131  0  0  0
Nuclear fuel(a) 207  207  0  0  0
ARO accretion(b) 56  56  0  0  0
                
Total depreciation, amortization, accretion and depletion$776 $547 $149 $53 $79

__________

(a)       Included in revenues or fuel expense on the Registrants' Consolidated Statements of Operations and Comprehensive Income.

(b)       Included in operating and maintenance expense on the Registrants' Consolidated Statements of Operations.

 

Three Months Ended March 31, 2013Exelon Generation ComEd PECO BGE
Other non-cash operating activities:              
Pension and non-pension postretirement benefit costs$205 $87 $77 $11 $14
Loss in equity method investments 9  9  0  0  0
Provision for uncollectible accounts 45  7  9  25  4
Stock-based compensation costs 39  4  1  1  1
Other decommissioning-related activity (a) (64)  (64)  0  0  0
Energy-related options (b) 21  21  0  0  0
Amortization of regulatory asset related to debt costs 4  0  3  1  0
Amortization of rate stabilization deferral 30  0  0  0  30
Amortization of debt fair value adjustment (9)  (9)  0  0  0
Discrete impacts from Energy Infrastructure              
Modernization Act (EIMA) (d)(49)  0  (49)  0  0
Amortization of debt costs 5  3  1  1  0
Merger integration costs (f) (6)  0  0  0  (6)
Other 1  8  0  0  (1)
               
Total other non-cash operating activities$231 $66 $42 $39 $42
                
Changes in other assets and liabilities:              
Under/over-recovered energy and transmission costs$29 $0 $(18) $22 $16
Other regulatory assets and liabilities 91  0  (14)  13  (53)
Other current assets (169)  (131)  0  (75)(f)73
Other noncurrent assets and liabilities 282  (28)  263  2  (2)
                
Total changes in other assets and liabilities$233 $(159) $231 $(38) $34
                
Non-cash investing and financing activities:              
Consolidated VIE dividend to non-controlling interest$63 $63 $0 $0 $0
Indemnification of like-kind exchange position (e) 0  0  172  0  0
                
 Total non-cash investing and financing activities:$63 $63 $172 $0 $0

Three Months Ended March 31, 2012Exelon Generation ComEd PECO BGE
Other non-cash operating activities:              
Pension and non-pension postretirement benefit costs$181 $81 $69 $13 $16
Loss in equity method investments 22  22  0  0  0
Provision for uncollectible accounts 40  (9)  22  24  8
Stock-based compensation costs 39  0  0  0  0
Other decommissioning-related activity (a) (71)  (71)  0  0  0
Energy-related options (b) 28  28  0  0  0
Amortization of regulatory asset related to debt costs 6  0  4  1  1
Amortization of rate stabilization deferral 3  0  0  0  13
Merger-related commitments (c) 331  35  0  0  141
Discrete impacts from Energy Infrastructure               
Modernization Act EIMA (d) (38)  0  (38)  0  0
Other (11)  4  3  2  0
               
Total other non-cash operating activities$530 $90 $60 $40 $179
               
Changes in other assets and liabilities:              
Under/over-recovered energy and transmission costs$(25) $0 $(38) $13 $(10)
Other regulatory assets and liabilities (97)  0  (16)  3  (39)
Other current assets  (18)  (122)  1  (134)(g)31
Other noncurrent assets and liabilities 18  42  (19)  8  7
               
Total changes in other assets and liabilities$(122) $(80) $(72) $(110) $(11)
               
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

_________

(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 13 of the Exelon 2012 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)              See Note 4 - Mergers and Acquisitions for more information on merger-related commitments.

(d) Reflects the change in distribution rates pursuant to EIMA, which allows for the recovery of costs by a utility through a pre-established performance-based formula rate tariff. See Note 5 - Regulatory Matters for more information.

(e)       See Note 11 – Income Taxes for discussion of the like-kind exchange tax position.

(f)       Relates to integration costs to achieve distribution synergies related to the merger transaction. See Note 5 - Regulatory Matters for more information.

(g)       Relates primarily to prepaid utility taxes.

 

 

DOE Smart Grid Investment Grant (Exelon, PECO and BGE). For the three months ended March 31, 2013, Exelon, PECO and BGE have included in the capital expenditures line item under investing activities of the cash flow statement capital expenditures of $21 million, $6 million and $15 million, respectively, and reimbursements of $32 million, $12 million and $20 million, respectively, related to PECO's and BGE's DOE SGIG programs. For the three months ended March 31, 2012, Exelon, PECO and BGE have included in the capital expenditures line item under investing activities of the cash flow statement capital expenditures of $26 million, $20 million and $6 million, respectively, and reimbursements of $35 million, $21 million and $14 million, respectively, related to PECO's and BGE's DOE SGIG programs. See Note 5 - 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 March 31, 2013 and December 31, 2012.

 

March 31, 2013Exelon   Generation   ComEd  PECO  BGE
Property, plant and equipment:                
Accumulated depreciation and amortization$ 12,579(a) $6,347(a) $2,969 $2,840 $2,627
Accounts receivable:                
Allowance for uncollectible accounts 320   84   78  122  36
                 
December 31, 2012Exelon   Generation   ComEd  PECO  BGE
Property, plant and equipment:                
Accumulated depreciation and amortization$ 12,184(b) $6,014(b) $2,998 $2,797 $2,595
Accounts receivable:                
Allowance for uncollectible accounts 293   84   70  99  40

___________

(a)       Includes accumulated amortization of nuclear fuel in the reactor core of $2,221 million.

(b)       Includes accumulated amortization of nuclear fuel in the reactor core of $2,078 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 $18 million as of March 31, 2013 and December 31, 2012. 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 2012 Form 10-K. The allowance for uncollectible accounts balance associated with these receivables at March 31, 2013 of $14 million consists of $1 million, $4 million and $9 million for low risk, medium risk and high risk segments, respectively. The allowance for uncollectible accounts balance at December 31, 2012 of $15 million consists of $1 million, $3 million and $11 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 March 31, 2013 and December 31, 2012 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 its 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 2012 Form 10-K.