Changes in Accumulated Other Comprehensive Income (Exelon, Generation, and PECO)

The following tables present changes in accumulated other comprehensive income (loss) (AOCI) by component for the nine months ended September 30, 2014 and 2013:



Nine Months Ended September 30, 2014	Gains and (Losses) on Cash Flow Hedges			Unrealized Gains and (Losses) on Marketable Securities			Pension and Non-Pension Postretirement Benefit Plan Items			Foreign Currency Items			AOCI of Equity Investments			Total
Exelon^(a)
Beginning balance	$	120		$	2		$	(2,260	)	$	(10	)	$	108		$	(2,040	)
OCI before reclassifications	(14		)	(2		)	240			(6		)	11			229
Amounts reclassified from AOCI^(b)	(78		)	—			91			—			(119		)	(106		)
Net current-period OCI	(92		)	(2		)	331			(6		)	(108		)	123
Ending balance	$	28		$	—		$	(1,929	)	$	(16	)	$	—		$	(1,917	)
Generation^(a)
Beginning balance	$	114		$	2		$	—		$	(10	)	$	108		$	214
OCI before reclassifications	(8		)	(3		)	—			(6		)	11			(6		)
Amounts reclassified from AOCI^(b)	(78		)	—			—			—			(119		)	(197		)
Net current-period OCI	(86		)	(3		)	—			(6		)	(108		)	(203		)
Ending balance	$	28		$	(1	)	$	—		$	(16	)	$	—		$	11
PECO^(a)
Beginning balance	$	—		$	1		$	—		$	—		$	—		$	1
OCI before reclassifications	—			—			—			—			—			—
Amounts reclassified from AOCI^(b)	—			—			—			—			—			—
Net current-period OCI	—			—			—			—			—			—
Ending balance	$	—		$	1		$	—		$	—		$	—		$	1

______________


(a)	All amounts are net of tax. Amounts in parenthesis represent a decrease in accumulated other comprehensive income.


(b)	See tables following changes in accumulated other comprehensive income tables for details about these reclassifications.



Nine Months Ended September 30, 2013	Gains and (Losses) on Cash Flow Hedges			Unrealized Gains and (Losses) on Marketable Securities			Pension and Non-Pension Postretirement Benefit Plan Items			Foreign Currency Items			AOCI of Equity Investments		Total
Exelon^(a)
Beginning balance	$	368		$	—		$	(3,137	)	$	—		$	2	$	(2,767	)
OCI before reclassifications	25			(1		)	73			(5		)	46		138
Amounts reclassified from AOCI^(b)	(194		)	—			157			—			5		(32		)
Net current-period OCI	(169		)	(1		)	230			(5		)	51		106
Ending balance	$	199		$	(1	)	$	(2,907	)	$	(5	)	$	53	$	(2,661	)
Generation^(a)
Beginning balance	$	512		$	—		$	—		$	—		$	1	$	513
OCI before reclassifications	12			(1		)	—			(5		)	47		53
Amounts reclassified from AOCI^(b)	(328		)	—			—			—			5		(323		)
Net current-period OCI	(316		)	(1		)	—			(5		)	52		(270		)
Ending balance	$	196		$	(1	)	$	—		$	(5	)	$	53	$	243
PECO^(a)
Beginning balance	$	—		$	1		$	—		$	—		$	—	$	1
OCI before reclassifications	—			—			—			—			—		—
Amounts reclassified from AOCI^(b)	—			—			—			—			—		—
Net current-period OCI	—			—			—			—			—		—
Ending balance	$	—		$	1		$	—		$	—		$	—	$	1

_______________


(a)	All amounts are net of tax. Amounts in parenthesis represent a decrease in accumulated other comprehensive income.


(b)	See tables following changes in accumulated other comprehensive income tables for details about these reclassifications.

ComEd, PECO, and BGE did not have any reclassifications out of AOCI to net income during the three and nine months ended September 30, 2014 and 2013. The following tables present amounts reclassified out of AOCI to Net Income for Exelon and Generation during the three and nine months ended September 30, 2014 and 2013.

Three Months Ended September 30, 2014



Details about AOCI components	Items reclassified out of AOCI^(a)						Affected line item in the statement where Net Income is presented
	Exelon			Generation
Gains on cash flow hedges
Energy related hedges	$	28		$	28		Operating revenues
	28			28			Total before tax
	(12		)	(12		)	Tax (expense)
	$	16		$	16		Net of tax
Amortization of pension and other postretirement benefit plan items
Prior service costs	$	19		$	—		^(b)
Actuarial losses	(61		)	—			^(b)
	(42		)	—			Total before tax
	16			—			Tax benefit
	$	(26	)	$	—		Net of tax
Equity investments
Sale of equity method investment	$	5		$	5		Other, net
	5			5			Total before tax
	(2		)	(2		)	Tax (expense)
	$	3		$	3		Net of tax
Total Reclassifications for the period	$	(7	)	$	19		Net of Tax

Nine Months Ended September 30, 2014



Details about AOCI components	Items reclassified out of AOCI^(a)						Affected line item in the statement where Net Income is presented
	Exelon			Generation
Gains on cash flow hedges
Energy related hedges	$	130		$	130		Operating revenues
	130			130			Total before tax
	(52		)	(52		)	Tax (expense)
	$	78		$	78		Net of tax
Amortization of pension and other postretirement benefit plan items
Prior service costs	$	29		$	—		^(b)
Actuarial losses	(178		)	—			^(b)
	(149		)	—			Total before tax
	58			—			Tax benefit
	$	(91	)	$	—		Net of tax
Equity investments
Sale of equity method investment	$	5		$	5		Other, net
Reversal of CENG equity method AOCI	193			193			Gain on consolidation of CENG
	198			198			Total before tax
	(79		)	(79		)	Tax (expense)
	$	119		$	119		Net of tax
Total reclassifications for the period	$	106		$	197		Net of Tax

Three Months Ended September 30, 2013



Details about AOCI components	Items reclassified out of AOCI^(a)						Affected line item in the statement where Net Income is presented
	Exelon			Generation
Gains on cash flow hedges
Energy related hedges	$	84		$	84		Operating revenues
Other cash flow hedges	(1		)	(1		)	Interest expense
	83			83			Total before tax
	(35		)	(33		)	Tax (expense)
	$	48		$	50		Net of tax
Amortization of pension and other postretirement benefit plan items
Actuarial losses	$	(92	)	$	—		^(b)
Deferred compensation unit plan	(1		)	—			^(c)
	(93		)	—			Total before tax
	37			—			Tax benefit
	$	(56	)	$	—		Net of tax
Equity investments
Capital Activity	$	—		$	—		Equity in losses of unconsolidated affiliates
	—			—			Total before tax
	—			—			Tax benefit
	$	—		$	—		Net of tax
Total Reclassifications for the period	$	(8	)	$	50		Net of Tax

Nine Months Ended September 30, 2013



Details about AOCI components	Items reclassified out of AOCI^(a)						Affected line item in the statement where Net Income is presented
	Exelon			Generation
Gains on cash flow hedges
Energy related hedges	$	324		$	543		Operating revenues
Other cash flow hedges	(2		)	—			Interest (expense) or benefit
	322			543			Total before tax
	(128		)	(215		)	Tax (expense)
	$	194		$	328		Net of tax
Amortization of pension and other postretirement benefit plan items
Prior service costs	$	(1	)	$	—		^(b)
Actuarial losses	(257		)	—			^(b)
Deferred compensation unit plan	(1		)	—			^(c)
	(259		)	—			Total before tax
	102			—			Tax benefit
	$	(157	)	$	—		Net of tax
Equity investments
Capital Activity	$	(8	)	$	(8	)	Equity in losses of unconsolidated affiliates
	(8		)	(8		)	Total before tax
	3			3			Tax benefit
	$	(5	)	$	(5	)	Net of tax
Total Reclassifications for the period	$	32		$	323		Net of Tax

____________


(a)	All amounts are net of tax. Amounts in parenthesis represent a decrease in net income.


(b)	This accumulated other comprehensive income component is included in the computation of net periodic pension and OPEB cost (see Note 13— Retirement Benefits for additional details).


(c)	Amortization of deferred compensation unit is allocated to capital and operating and maintenance expense.

The following table presents income tax expense (benefit) allocated to each component of other comprehensive income (loss) during the three and nine months ended September 30, 2014 and 2013:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Exelon
Pension and non-pension postretirement benefit plans:
Prior service benefit reclassified to periodic benefit cost	$	8		$	—		11			$	—
Actuarial gain (loss) reclassified to periodic cost	(24		)	33			(69		)	97
Pension and non-pension postretirement benefit plans valuation adjustment	5			(6		)	(153		)	44
Change in unrealized gain (loss) on cash flow hedges	15			(35		)	62			(109		)
Change in unrealized income on equity investments	3			9			73			32
Deferred compensation unit valuation adjustment	—			—			—			6
Change in unrealized loss on marketable securities	1			—			(1		)	—
Total	$	8		$	1		$	(77	)	$	70

Generation
Change in unrealized gain (loss) on cash flow hedges	$	13		$	(36	)	$	57		$	(209	)
Change in unrealized income on equity investments	3			9			73			32
Change in marketable securities	1			—			(1		)	—
Total	$	17		$	(27	)	$	129		$	(177	)