XML 139 R52.htm IDEA: XBRL DOCUMENT v2.4.1.9
Asset Retirement Obligations (Tables)
 12 Months Ended
Dec. 31, 2014
Asset Retirement Obligation Disclosure [Abstract]  
Nuclear Decommissioning Asset Retirement Obligation Rollforward
The following table provides a rollforward of the nuclear decommissioning ARO reflected on Exelon’s and Generation’s Consolidated Balance Sheets, from January 1, 2013 to December 31, 2014:
 
 
Exelon and
Generation
Nuclear decommissioning ARO at January 1, 2013
$
4,741

Accretion expense
259

Net decrease due to changes in, and timing of, estimated future cash flows
(140
)
Costs incurred to decommission retired plants
(5
)
Nuclear decommissioning ARO at December 31, 2013 (a)
4,855

Consolidation of CENG (b)
1,760

Accretion expense
334

Net increase due to changes in, and timing of, estimated future cash flows
19

Costs incurred to decommission retired plants
(7
)
Nuclear decommissioning ARO at December 31, 2014 (a)

$
6,961

_________________________
(a)
Includes $8 million and $9 million as the current portion of the ARO at December 31, 2014 and 2013, respectively, which is included in Other current liabilities on Exelon’s and Generation’s Consolidated Balance Sheets.
(b)
Represents the fair value of the CENG ARO liability as of April 1, 2014, the date of consolidation. See Note 5 — Investment in Constellation Energy Nuclear Group, LLC for additional information.
Unrealized Gains Losses On Nuclear Decommissioning Trust Funds
The following table provides unrealized gains on NDT funds for 2014, 2013 and 2012:
 
 
Exelon and Generation
 
For the Years Ended December 31,
 
2014
 
2013
 
2012
Net unrealized gains on decommissioning trust
funds—Regulatory Agreement Units (a)
$
180

 
$
406

 
$
386

Net unrealized gains on decommissioning trust
funds—Non-Regulatory Agreement Units (b)(c)
134

 
146

 
105

_______________________
(a)
Net unrealized gains related to Generation’s NDT funds associated with Regulatory Agreement Units are included in Regulatory liabilities on Exelon’s Consolidated Balance Sheets and Noncurrent payables to affiliates on Generation’s Consolidated Balance Sheets.
(b)
Excludes $29 million, $7 million and $73 million of net unrealized gains related to the Zion Station pledged assets in 2014, 2013 and 2012, respectively. Net unrealized gains related to Zion Station pledged assets are included in the Payable for Zion Station decommissioning on Exelon’s and Generation’s Consolidated Balance Sheets.
(c)
Net unrealized gains related to Generation’s NDT funds with Non-Regulatory Agreement Units are included within Other, net in Exelon’s and Generation’s Consolidated Statements of Operations and Comprehensive Income.
Nuclear Decommissioning Pledged Assets
The following table provides the pledged assets and payables to ZionSolutions, and withdrawals by ZionSolutions at December 31, 2014 and 2013:
 
 
Exelon and Generation
 
2014
 
2013
Carrying value of Zion Station pledged assets
$
319

 
$
458

Payable to Zion Solutions (a)
292

 
414

Current portion of payable to Zion Solutions (b)
137

 
109

Cumulative withdrawals by Zion Solutions to pay decommissioning costs
666

 
498

___________________ 
(a)
Excludes a liability recorded within Exelon’s and Generation’s Consolidated Balance Sheets related to the tax obligation on the unrealized activity associated with the Zion Station NDT Funds. The NDT Funds will be utilized to satisfy the tax obligations as gains and losses are realized.
(b)
Included in Other current liabilities within Exelon’s and Generation’s Consolidated Balance Sheets.
Non Nuclear Decommissioning Asset Retirement Obligation Rollforward
The following table provides a rollforward of the non-nuclear AROs reflected on the Registrants’ Consolidated Balance Sheets from January 1, 2013 to December 31, 2014:
 
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
Non-nuclear AROs at January 1, 2013
$
343

 
$
207


$
99


$
29


$
8

Net increase (decrease) due to changes in, and
   timing of, estimated future cash flows (a)
1

 
(11
)

—


—


12

Development projects (b)
2

 
2


—


—


—

Accretion expense (c)
18

 
13


4


1


—

Payments
(13
)
 
(10
)

(2
)

—


(1
)
Non-nuclear AROs at December 31, 2013 (d)

351

 
201


101


30


19

Net increase (decrease) due to changes in, and
   timing of, estimated future cash flows (a)
(1
)
 
(2
)

2


—


(1
)
Development projects (b)
11

 
11


—


—


—

Accretion expense (c)
15

 
11


3


1


—

Liabilities held for sale (e)
(4
)
 
(4
)
 
—

 
—

 
—

Sale of generating assets (f)
(20
)
 
(20
)
 
—

 
—

 
—

Payments
(6
)
 
(3
)

(2
)

(1
)

—

Non-nuclear AROs at December 31, 2014 (d)
$
346

 
$
194


$
104


$
30


$
18

________________________
(a)
During the year ended December 31, 2014, Generation recorded a decrease of $(2) million and ComEd recorded an increase of $1 million in Operating and maintenance expense. PECO, and BGE did not record any adjustments in Operating and maintenance expense for the year ended December 31, 2014. During the year ended December 31, 2013, Generation recorded an increase in Operating and maintenance expense of $13 million. ComEd, PECO, and BGE did not record any adjustments in Operating and maintenance expense for the year ended December 31, 2013.
(b)
Relates to new AROs recorded due to the construction of solar, wind and other non-nuclear generating sites.
(c)
For ComEd, PECO, and BGE, the majority of the accretion is recorded as an increase to a regulatory asset due to the associated regulatory treatment.
(d)
During the year ended December 31, 2014, Generation, ComEd, PECO and BGE recorded $1 million, $1 million, $1 million, and $1 million, respectively, as the current portion of the ARO. During December 31, 2013 Generation, ComEd, PECO and BGE recorded $0 million, $2 million, $1 million, and $0 million, respectively, as the current portion of the ARO. This is included in Other current liabilities on the Registrants' respective Consolidated Balance Sheets.
(e)
Represents AROs related to generating stations classified as held for sale as of December 31, 2014. See Note 4 — Mergers, Acquisitions, and Dispositions for further information.
(f)
Reflects a reduction to the ARO resulting primarily from the sales of the Keystone and Conemaugh generating stations.