Common Stock (Tables)

12 Months Ended

Dec. 31, 2014

Common Stock [Abstract]

Schedule of Stock by Class

			December 31,
	Redemption Price (a)		2014	2013	2014		2013
			Shares Outstanding		Dollar Amount
Series (without mandatory redemption)
7.125%, 1993 Series	$	100.00	400,000	400,000	$	40	$	40
6.97%, 1993 Series	100.00		500,000	500,000	50		50
6.70%, 1993 Series	100.00		400,000	400,000	40		40
6.99%, 1995 Series	100.35		600,000	600,000	60		60
Total preference stock			1,900,000	1,900,000	$	190	$	190

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(a) Redeemable, at the option of BGE, at the indicated dollar amounts per share, plus accrued and unpaid dividends.

The following table presents common stock authorized and outstanding as of December 31, 2014 and 2013:

				December 31,
				2014	2013
	Par Value		Shares Authorized	Shares Outstanding
Common Stock
Exelon	no par value		2,000,000,000	859,833,343	857,290,484
ComEd	$	12.50	250,000,000	127,016,947	127,016,896
PECO	no par value		500,000,000	170,478,507	170,478,507
BGE	no par value		175,000,000	1,000	1,000

Stock Based Compensation Components

The following table presents the stock-based compensation expense included in Exelon’s Consolidated Statements of Operations and Comprehensive Income for the years ended December 31, 2014, 2013 and 2012:

	Year Ended December 31,
Components of Stock-Based Compensation Expense	2014			2013			2012
Performance share awards	$	59		$	48		$	46
Restricted stock units	61			61			50
Stock options	2			3			15
Other stock-based awards	5			6			4
Total stock-based compensation expense included in operating and maintenance expense	127			118			115
Income tax benefit	(47		)	(44		)	(44		)
Total after-tax stock-based compensation expense	$	80		$	74		$	71

Stock Based Compensation Expense Subsidiaries

The following table presents stock-based compensation expense (pre-tax) for the years ended December 31, 2014, 2013 and 2012:

	Year Ended December 31,
Subsidiaries	2014		2013		2012 (a)
Generation	$	52	$	48	$	42
ComEd	7		9		11
PECO	3		5		5
BGE	5		6		5
BSC(b)	60		50		52
Total	$	127	$	118	$	115

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(a) BGE’s stock-based compensation expense (pre-tax) for December 31, 2012 excludes $2 million of cost incurred in 2012 prior to the closing of Exelon’s merger with Constellation on March 12, 2012. This amount is not included in Exelon’s stock-based compensation expense for the year ended December 31, 2012 shown in the table titled Components of Stock-Based Compensation Expense and the breakout by subsidiary above.

(b) These amounts primarily represent amounts billed to Exelon’s subsidiaries through intercompany allocations. These amounts are not included in the Generation, ComEd, PECO and BGE amounts above.

Stock Based Compensation Tax Benefit

The following table presents information regarding Exelon’s tax benefits for the years ended December 31, 2014, 2013 and 2012:

	Year Ended December 31,
	2014		2013		2012
Realized tax benefit when exercised/distributed:
Stock options	$	—	$	—	$	3
Restricted stock units	17		11		11
Performance share awards	11		11		7
Stock deferral plan	—		1		—
Excess tax benefits included in other financing activities of Exelon’s
Consolidated Statements of Cash Flows:
Stock options	$	—	$	—	$	2

Schedule of Assumptions Used

The following table presents the weighted average assumptions used in the pricing model for grants and the resulting weighted average grant date fair value of stock options granted for the year ended 2012:

	Year ended December 31, 2012
Dividend yield	5.28	%
Expected volatility	23.20	%
Risk-free interest rate	1.30	%
Expected life (years)	6.25
Weighted average grant date fair value (per share)	4.18

Schedule of Share-based Compensation, Stock Options, Activity

The following table presents information with respect to stock option activity for the year ended December 31, 2014:

	Shares		Weighted Average Exercise Price (per share)		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
Balance of shares outstanding at December 31, 2013	21,035,445		$	46.07
Options exercised	(291,805	)	25.27
Options forfeited	(8,886	)	55.78
Options expired	(1,903,787	)	41.47
Balance of shares outstanding at December 31, 2014	18,830,967		$	46.85	4.11	$	29
Exercisable at December 31, 2014 (a)	18,398,932		$	47.01	4.04	$	29

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(a) Includes stock options issued to retirement eligible employees.

Stock Options Exercised

The following table summarizes additional information regarding stock options exercised for the years ended December 31, 2014, 2013 and 2012:

	Year Ended December 31,
	2014		2013		2012
Intrinsic value(a)	$	3	$	4	$	19
Cash received for exercise price	7		19		47

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(a) The difference between the market value on the date of exercise and the option exercise price.

Schedule of Nonvested Share Activity

The following table summarizes Exelon’s nonvested stock option activity for the year ended December 31, 2014:

	Shares		Weighted Average Exercise Price (per share)
Nonvested at December 31, 2013 (a)	847,118		$	40.22
Vested	(406,197	)	40.21
Forfeited	(8,886	)	55.78
Nonvested at December 31, 2014 (a)	432,035		$	39.91

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(a) Excludes 746,140 and 1,348,913 of stock options issued to retirement-eligible employees as of December 31, 2014 and December 31, 2013, respectively, as they are fully vested.

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes Exelon’s nonvested restricted stock unit activity for the year ended December 31, 2014:

	Shares		Weighted Average Grant Date Fair Value (per share)
Nonvested at December 31, 2013 (a)	3,386,697		$	34.10
Granted	2,252,574		28.71
Vested	(1,216,016	)	35.36
Forfeited	(86,094	)	31.99
Undistributed vested awards (b)	(578,943	)	29.17
Nonvested at December 31, 2014 (a)	3,758,218		$	31.27

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(a) Excludes 975,116 and 931,628 of restricted stock units issued to retirement-eligible employees as of December 31, 2014 and December 31, 2013, respectively, as they are fully vested.

(b) Represents restricted stock units that vested but were not distributed to retirement-eligible employees during 2014.

Schedule of Nonvested Performance-based Units Activity

The following table summarizes Exelon’s nonvested performance share awards activity for the year ended December 31, 2014:

	Shares		Weighted Average Grant Date Fair Value (per share)
Nonvested at December 31, 2013 (a)	2,014,190		$	32.74
Granted	1,712,085		28.75
Change in performance	98,227		31.85
Vested	(497,714	)	35.05
Forfeited	(29,476	)	30.16
Undistributed vested awards (b)	(601,215	)	28.96
Nonvested at December 31, 2014 (a)	2,696,097		$	30.62

_______________________ 

(a) Excludes 1,535,791 and 1,411,824 of performance share awards issued to retirement-eligible employees as of December 31, 2014 and December 31, 2013, respectively, as they are fully vested.

(b) Represents performance share awards that vested but were not distributed to retirement-eligible employees during 2014.

Not Settled Performance Share Awards Balance Sheet Presentation

The following table presents the balance sheet classification of obligations related to outstanding performance share awards not yet settled:

	December 31,
	2014		2013
Current liabilities(a)	$	28	$	13
Deferred credits and other liabilities(b)	36		24
Common stock	33		32
Total	$	97	$	69

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(a) Represents the current liability related to performance share awards expected to be settled in cash.

(b) Represents the long-term liability related to performance share awards expected to be settled in cash.