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Merger and Acquisitions (Tables)
12 Months Ended
Dec. 31, 2013
Business Acquisition [Line Items]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
Preliminary Purchase Price Allocation, excluding amortizationExelonGeneration
Current assets$4,936$3,638
Property, plant and equipment 9,342 4,054
Unamortized energy contracts 3,218 3,218
Other intangibles, trade name and retail relationships 457 457
Investment in affiliates 1,942 1,942
Pension and OPEB regulatory asset 740 0
Other assets 2,265 1,266
Total assets 22,900 14,575
     
Current liabilities 3,408 2,804
Unamortized energy contracts 1,722 1,512
Long-term debt, including current maturities 5,632 2,972
Non-controlling interest 90 90
Deferred credits and other liabilities and preferred securities 4,683 1,933
Total liabilities, preferred securities and non-controlling interest 15,535 9,311
Total purchase price$7,365$5,264
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]
            Estimated amortization expense
DescriptionWeighted Average Amortization (Years) (b) Gross Accumulated Amortization  Net  2014 2015 2016 2017 2018 2019 and Beyond
Unamortized energy contracts, net (a) 1.5 $1,499 $(1,378) $121 $75 $18 $(31) $(21) $11 $69
Trade name 10.0  243  (46)  197  24  24  24  24  24  77
Retail relationships 12.4  214  (36)  178  19  18  18  18  18  87
                             
Total, net  $1,956 $(1,460) $496 $118 $60 $11 $21 $53 $233

       

  • Includes the fair value of BGE's power and gas supply contracts of $12 million for which an offsetting Exelon Corporate regulatory asset was also recorded.

(b) Weighted average amortization period was calculated as of the date of acquisition.

 

Schedule of Restructuring and Related Costs [Text Block]
Year Ended December 31, 2012               
Severance Benefits (a)  Exelon (b)  Generation  ComEd (b)  PECO  BGE (b)
Severance charges $124 $80 $14 $7 $17
Stock compensation  7  4  1  0  1
Other charges  7  4  1  0  1
Total severance benefits $138 $88 $16 $7 $19

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  • The amounts above include $46 million at Generation, $14 million at ComEd, $7 million at PECO, and $7 million at BGE, for amounts billed by BSC through intercompany allocations for the year ended December 31, 2012.
  • Exelon, ComEd and BGE established regulatory assets of $35 million, $16 million and $19 million, respectively, for severance benefits costs for the year ended December 31, 2012. The majority of these costs are expected to be recovered over a five-year period.

 

Schedule Of Severance Costs [TableTextBlock]
Severance Benefits (a) Exelon  Generation  ComEd  PECO  BGE 
Severance charges - 2013$ 18 $ 16 $ 2 $0 $0 
Severance charges - 2012  19   14   2   1   3 
Severance charges - 2011  5   5  0  0  4 
Business Acquisition, Pro Forma Information [Table Text Block]
 Generation Exelon
  Year Ended December 31,  Year Ended December 31,
(unaudited) 2012  2011 (a)  2012  2011 (b)
Total Revenues$17,013 $19,494 $26,700 $30,712
Net income attributable to Exelon 1,205  324  2,092  974
            
Basic Earnings Per Share n.a.  n.a. $2.56 $1.15
Diluted Earnings Per Share n.a.  n.a.  2.55  1.14

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  • The amounts above include non-recurring costs directly related to the merger of $203 million for the year ended December 31, 2011.
  • The amounts above include non-recurring costs directly related to the merger of $236 million for the year ended December 31, 2011.

 

Schedule Of Business Acquisitions By Acquisition [Text Block]
Description Payment Period BGE Generation Exelon Statement of Operations Location
BGE rate credit of $100 per residential              
 customer (a) Q2 2012 $113 $0 $ 113 Revenues
Customer investment fund to invest in              
 energy efficiency and low-income              
 energy assistance to BGE customers  2012 to 2014  0  0   113.5 O&M Expense
Contribution for renewable energy,              
 energy efficiency or related projects              
 in Baltimore 2012 to 2014  0  0   2 O&M Expense
Charitable contributions at $7 million per              
 year for 10 years 2012 to 2021  28  35   70 O&M Expense
State funding for offshore wind              
 development projects  Q2 2012  0  0   32 O&M Expense
Miscellaneous tax benefits Q2 2012  (2)  0  (2) Taxes Other Than Income
 Total   $139 $35 $ 328.5  

  Acquisitions  
  2011  
  Wolf Hollow   Antelope Valley  
Fair value of consideration transferred       
Cash$ 305 $ 75  
Plus: Gain on PPA settlement   6   -  
        
Total fair value of consideration transferred$ 311 $ 75  
        
Recognized amounts of identifiable assets acquired and liabilities assumed       
        
Property, plant and equipment$ 347 $ 15  
Inventory  5   -  
Intangible assets (a)   -   190  
Payable to First Solar, Inc. (b)  -   (135)  
Working capital, net  (5)   -  
Other Assets  -   5  
        
Total net identifiable assets$ 347 $ 75  
        
Bargain purchase gain$ 36 $ -  

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(a)       See Note 10 - Intangible Assets for additional information.

(b)       Generation concluded that the remaining, yet-to-be paid $135 million in consideration was embedded in the amounts payable under the Engineering, Procurement, Construction (EPC) agreement for First Solar, Inc. to construct the solar facility. For accounting purposes, this aspect of the transaction is considered to be akin to a "seller financing" arrangement. As such, Generation recorded a liability of $135 million associated with the portion of the future payments to First Solar, Inc. under the EPC agreement to reflect Generation's implicit amounts due First Solar, Inc. for the remainder of the value of the net assets acquired. The $135 million payable to First Solar, Inc. will be relieved as Generation makes payments for costs incurred over the project construction period. At December 31, 2012, $87 million remained payable to First Solar, Inc. During 2013, a subsidiary of Generation paid off the remaining balance of the payable to First Solar, Inc.