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Supplemental Financial Information (Exelon, Generation, ComEd, PECO and BGE)
 9 Months Ended
Sep. 30, 2013
Supplemental Financial Information Tables [Line Items]  
Supplemental Financial Information (Exelon, Generation, ComEd, PECO and BGE)

19.    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 and Comprehensive Income for the three and nine months ended September 30, 2013 and 2012:

Three Months Ended September 30, 2013Exelon Generation ComEd PECO BGE 
Other, Net               
Decommissioning-related activities:               
 Net realized income on decommissioning trust funds (a)               
  Regulatory agreement units$138 $138 $0 $0 $0 
  Non-regulatory agreement units 35  35  0  0  0 
 Net unrealized gains on decommissioning trust funds               
  Regulatory agreement units 103  103  0  0  0 
  Non-regulatory agreement units 46  46  0  0  0 
 Net unrealized losses on pledged assets                
  Zion Station decommissioning (9)  (9)  0  0  0 
 Regulatory offset to decommissioning trust fund-related               
  activities(b)  (189)  (189)  0  0  0 
Total decommissioning-related activities 124  124  0  0  0 
Investment income 1  0  0  0  2(c)
Long-term lease income  7  0  0  0  0 
AFUDC - Equity 4  0  2  1  1 
Other  19  10  5  0  1 
                  
Other, net $155 $134 $7 $1 $4 
                
                  
Nine Months Ended September 30, 2013Exelon Generation ComEd PECO BGE 
Other, Net               
Decommissioning-related activities:               
 Net realized income on decommissioning trust funds (a)               
  Regulatory agreement units$221 $221 $0 $0 $0 
  Non-regulatory agreement units 65  65  0  0  0 
 Net unrealized gains on decommissioning trust funds               
  Regulatory agreement units 196  196  0  0  0 
  Non-regulatory agreement units 70  70  0  0  0 
 Net unrealized losses on pledged assets                
  Zion Station decommissioning (5)  (5)  0  0  0 
 Regulatory offset to decommissioning trust fund-related               
  activities(b)  (338)  (338)  0  0  0 
Total decommissioning-related activities 209  209  0  0  0 
Investment income (expense) 6  (1)  0  (1)  7(c)
Long-term lease income  20  0  0  0  0 
Interest income related to uncertain income tax positions 24  3  0  1  0 
AFUDC - Equity 16  0  8  3  5 
Other  36  18  10  1  1 
                  
Other, net $311 $229 $18 $4 $13 
                  

Three Months Ended September 30, 2012Exelon Generation ComEd PECO BGE
Other, Net              
Decommissioning-related activities:              
 Net realized income on decommissioning trust funds (a)              
  Regulatory agreement units$33 $33 $0 $0 $0
  Non-regulatory agreement units 10  10  0  0  0
 Net unrealized gains on decommissioning trust funds               
  Regulatory agreement units 202  202  0  0  0
  Non-regulatory agreement units 71  71  0  0  0
 Net unrealized gains on pledged assets              
  Zion Station decommissioning 22  22  0  0  0
 Regulatory offset to decommissioning trust fund-related              
  activities(b)  (208)  (208)  0  0  0
Total decommissioning-related activities 130  130  0  0  0
Investment income 5  1  0  0  3
Long-term lease income  7  0  0  0  0
Interest income related to uncertain income tax positions 0  1  1  0  0
Credit facility termination fees (43)  (43)  0  0  0
AFUDC - Equity 4  0  1  1  2
Other  (2)  (6)  3  1  0
                 
Other, net $101 $83 $5 $2 $5
               
Nine Months Ended September 30, 2012Exelon Generation ComEd PECO BGE
Other, Net              
Decommissioning-related activities:              
 Net realized income on decommissioning trust funds (a)              
  Regulatory agreement units$143 $143 $0 $0 $0
  Non-regulatory agreement units 77  77  0  0  0
 Net unrealized gains on decommissioning trust funds               
  Regulatory agreement units 352  352  0  0  0
  Non-regulatory agreement units 101  101  0  0  0
 Net unrealized gains on pledged assets              
  Zion Station decommissioning 60  60  0  0  0
 Regulatory offset to decommissioning trust fund-related              
  activities(b)  (453)  (453)  0  0  0
Total decommissioning-related activities 280  280  0  0  0
Investment income 15  2  1  2  9
Long-term lease income  22  0  0  0  0
Interest income related to uncertain income tax positions 14  1  1  0  0
Credit facility termination fees (85)  (85)  0  0  0
AFUDC - Equity 11  0  2  3  8
Other  (4)  (13)  8  1  1
                 
Other, net $253 $185 $12 $6 $18
                 

__________

(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 – Asset Retirement Obligations 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 nine months ended September 30, 2013 and 2012:

                 
Nine Months Ended September 30, 2013Exelon Generation ComEd PECO BGE
Depreciation, amortization, accretion and depletion              
Property, plant and equipment$ 1,420 $610 $413 $164 $194
Regulatory assets  153  0  88  7  58
Amortization of intangible assets, net  33  33  0  0  0
Amortization of energy contract assets and liabilities (a)  342  398  0  0  0
Nuclear fuel (a)  689  689  0  0  0
ARO accretion (b)  207  207  0  0  0
                 
Total depreciation, amortization, accretion and depletion$ 2,844 $ 1,937 $ 501 $ 171 $252
                 
Nine Months Ended September 30, 2012Exelon Generation ComEd PECO BGE
Depreciation, amortization, accretion and depletion              
Property, plant and equipment$1,263 $540 $396 $154 $184
Regulatory assets 89  0  62  7  34
Amortization of intangible assets, net 24  24  0  0  0
Amortization of energy contract assets and liabilities (a) 731  812  0  0  0
Nuclear fuel (a) 628  628  0  0  0
ARO accretion (b) 174  174  0  0  0
                 
Total depreciation, amortization, accretion and depletion$ 2,909 $ 2,178 $ 458 $ 161 $ 218

__________

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

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

 

Nine Months Ended September 30, 2013Exelon Generation ComEd PECO BGE
Other non-cash operating activities:              
Pension and non-pension postretirement benefit costs$621 $259 $231 $32 $41
Loss in equity method investments (7)  (7)  0  0  0
Provision for uncollectible accounts 83  16  (6)  48  25
Stock-based compensation costs 99  0  0  0  0
Other decommissioning-related activity (a) (110)  (110)  0  0  0
Energy-related options (b) 87  87  0  0  0
Amortization of regulatory asset related to debt costs 9  0  7  2  0
Amortization of rate stabilization deferral 49  0  0  0  49
Amortization of debt fair value adjustment (28)  (28)  0  0  0
Discrete impacts from EIMA (c)(206)  0  (206)  0  0
Amortization of debt costs 13  7  3  2  1
Merger integration costs (d) (6)  0  0  0  (6)
Impairment of investments in direct financing leases (e) 14  0  0  0  0
Increase in inventory reserve 7  7  0  0  0
Impairment charges (f) 149  149  0  0  0
Other (36)  (5)  (3)  0  (5)
               
Total other non-cash operating activities$738 $375 $26 $84 $105
                
Changes in other assets and liabilities:              
Under/over-recovered energy and transmission costs$(47) $0 $(63) $(10) $26
Other regulatory assets and liabilities (50)  0  (35)  0  (85)
Settlement of interest rate swaps (j) 26  0  0  0  0
Other current assets (169)  (123)  (3)  (31)  (35)
Other noncurrent assets and liabilities 205  (40)  261(g) (6)  (25)
                
Total changes in other assets and liabilities$(35) $(163) $160 $(47) $(119)
                
Non-cash investing and financing activities:              
Consolidated VIE dividend to non-controlling interest$63 $63 $0 $0 $0
Indemnification of like-kind exchange position (h) 0  0  175  0  0
                
 Total non-cash investing and financing activities:$63 $63 $175 $0 $0

Nine Months Ended September 30, 2012Exelon Generation ComEd PECO BGE
Other non-cash operating activities:              
Pension and non-pension postretirement benefit costs$606 $259 $212 $38 $44
Provision for uncollectible accounts 120  14  38  46  28
Stock-based compensation costs 75  0  0  0  0
Other decommissioning-related activity (a) (108)  (108)  0  0  0
Energy-related options (b) 119  119  0  0  0
Amortization of regulatory asset related to debt costs 13  0  10  2  1
Amortization of rate stabilization deferral 39  0  0  0  49
Amortization of debt fair value adjustment (49)  (23)  0  0  0
Discrete impacts from EIMA (c)  43  0  43  0  0
Merger-related commitments (i) 179  35  0  0  28
Severance cost 120  34  0  1  0
Loss in equity method investments 69  69  0  0  0
Other 9  23  7  9  (2)
               
Total other non-cash operating activities$1,235 $422 $310 $96 $148
               
Changes in other assets and liabilities:              
Under/over-recovered energy and transmission costs$20 $0 $21 $(3) $21
Other regulatory assets and liabilities (454)  0  (65)  7  (80)
Other current assets  52  (85)  (8)  (56) (25)
Other noncurrent assets and liabilities (40)  (110)  (72)  (5)  7
               
Total changes in other assets and liabilities$(422) $(195) $(124) $(57) $(77)
               
Non-cash investing and financing activities:             
Merger with Constellation, common stock issued$7,365 $5,258 $0 $0 $0

DOE Smart Grid Investment Grant (Exelon, PECO and BGE). For the nine months ended September 30, 2013, Exelon, PECO and BGE have included in the Capital expenditures line item under investing activities of the cash flow statement capital expenditures of $68 million, $22 million and $46 million, respectively, and reimbursements of $64 million, $30 million and $34 million, respectively, related to PECO's and BGE's DOE SGIG programs. For the nine months ended September 30, 2012, Exelon, PECO and BGE have included in the Capital expenditures line item under investing activities of the cash flow statement capital expenditures of $75 million, $45 million and $30 million, respectively, and reimbursements of $85 million, $55 million and $30 million, respectively, related to PECO's and BGE's DOE SGIG programs. See Note 5 - Regulatory Matters for additional information regarding the DOE SGIG.

 

_________

(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) 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.

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

(e)       Relates to an other than temporary decline in the estimated residual value of one of Exelon's direct financing leases. See Note 7 – Impairment of Long-Lived Assets for more information.

(f)              Relates to the cancellation of uprate projects and write down of certain wind projects at Generation. See Note 7 – Impairment of Long-Lived Assets for additional information.

(g)       Relates primarily to interest payable related to like-kind exchange tax position. See Note 12 – Income Taxes for discussion of the like-kind exchange tax position.

(h)       See Note 12 – Income Taxes for discussion of the like-kind exchange tax position.

(i)              See Note 4 - Mergers and Acquisitions for more information on merger-related commitments.

(i)              Relates to settlement of forward starting interest rate swaps that Exelon entered into in anticipation of the Continental Wind, LLC non-recourse project financing that was completed on September 30, 2013. See Note 10 – Derivative Financial Instruments for more information on interest rate swaps.

 

 

Supplemental Balance Sheet Information

 

The following tables provide additional information about assets and liabilities of the Registrants as of September 30, 2013 and December 31, 2012.

 

September 30, 2013Exelon   Generation   ComEd  PECO  BGE
Property, plant and equipment:                
Accumulated depreciation and amortization$ 13,366(a) $6,848(a) $3,107 $2,914 $2,658
Accounts receivable:                
Allowance for uncollectible accounts 302   72   73  119  38
                 
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 $2,365 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 $22 million as of September 30, 2013 and $18 million as of 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 – Significant Account Policies of the Exelon 2012 Form 10-K. The allowance for uncollectible accounts balance associated with these receivables at September 30, 2013 of $22 million consists of $1 million, $4 million and $17 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 September 30, 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 – Significant Accounting Policies of the Exelon 2012 Form 10-K.