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Serverance And Plant Retirements (Tables)
12 Months Ended
Dec. 31, 2013
Corporate Restructuring And Plant Retirements Tables [Abstract]  
Total severance benefits costs, recorded as operating and maintenance expense
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.

 

Activity of severance obligations for the corporate restructuring (excluding obligations recorded in equity)
Severance liability  Exelon   Generation  ComEd  PECO  BGE
Balance at December 31, 2011 $0 $0 $0 $0 $0
Severance charges (a)  124  38  2  0  11
Stock compensation  7  2  0  0  0
Other charges (b)  7  2  0  0  1
Payments  (27)  (9)  (1)  0  (1)
Balance at December 31, 2012 $111 $33 $1 $0 $11
Severance charges   5  1  0  0  0
Stock compensation  1  0  0  0  0
Payments  (64)  (24)  (1)  0  (5)
Balance at December 31, 2013 $53 $10 $0 $0 $6

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(a)       Includes salary continuance and health and welfare severance benefits. Amounts primarily represent benefits provided for under Exelon's ongoing severance plan. One-time termination benefits were not material for the years ended December 31, 2012 and December 31, 2013.

(b)       Primarily includes life insurance, employer payroll taxes, educational assistance, and outplacement services.

 

_____________________

(a)       Includes salary continuance and health and welfare severance benefits. Amounts primarily represent benefits provided for under Exelon's ongoing severance plan. One-time termination benefits were not material for the years ended December 31, 2012 and December 31, 2013.

(b)       Primarily includes life insurance, employer payroll taxes, educational assistance, and outplacement services.

 

Cash payments under the plan began in the second quarter of 2012. Substantially all cash payments under the plan are expected to be made by the end of 2016.

 

Ongoing Severance Plans

 

The Registrants provide severance and health and welfare benefits under Exelon's ongoing severance benefit plans to terminated employees in the normal course of business, which were not directly related to the merger with Constellation. These benefits are accrued for when the benefits are considered probable and can be reasonably estimated.

 

For the years ended December 31, 2013, 2012, and 2011, the Registrants recorded the following severance costs associated with these ongoing severance benefits within operating and maintenance expense in their Consolidated Statements of Operations:

 

 

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