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 six months ended June 30, 2015 and 2014:



Six Months Ended June 30, 2015	Gains and (Losses) on Hedging Activity			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	$	(28	)	$	3	$	(2,640	)	$	(19	)	$	—	$	(2,684	)
OCI before reclassifications	(10		)	—		(29		)	(9		)	—		(48		)
Amounts reclassified from AOCI^(b)	19			—		87			—			—		106
Net current-period OCI	9			—		58			(9		)	—		58
Ending balance	$	(19	)	$	3	$	(2,582	)	$	(28	)	$	—	$	(2,626	)
Generation^(a)
Beginning balance	$	(18	)	$	1	$	—		$	(19	)	$	—	$	(36	)
OCI before reclassifications	(6		)	1		—			(9		)	—		(14		)
Amounts reclassified from AOCI^(b)	3			—		—			—			—		3
Net current-period OCI	(3		)	1		—			(9		)	—		(11		)
Ending balance	$	(21	)	$	2	$	—		$	(28	)	$	—	$	(47	)
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 parentheses represent a decrease in accumulated other comprehensive income.


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



Six Months Ended June 30, 2014	Gains and (Losses) on Hedging Activity			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	(11		)	1			246			(1		)	11			246
Amounts reclassified from AOCI^(b)	(62		)	—			66			—			(116		)	(112		)
Net current-period OCI	(73		)	1			312			(1		)	(105		)	134
Ending balance	$	47		$	3		$	(1,948	)	$	(11	)	$	3		$	(1,906	)
Generation^(a)
Beginning balance	$	114		$	2		$	—		$	(10	)	$	108		$	214
OCI before reclassifications	(8		)	(1		)	—			(1		)	11			1
Amounts reclassified from AOCI^(b)	(62		)	—			—			—			(116		)	(178		)
Net current-period OCI	(70		)	(1		)	—			(1		)	(105		)	(177		)
Ending balance	$	44		$	1		$	—		$	(11	)	$	3		$	37
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 parentheses 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 six months ended June 30, 2015 and 2014. The following tables present amounts reclassified out of AOCI to Net income for Exelon and Generation during the three and six months ended June 30, 2015 and 2014.

Three Months Ended June 30, 2015



Details about AOCI components	Items reclassified out of AOCI^(a)						Affected line item in the Statements of Operations and Comprehensive Income
	Exelon			Generation
Gains (losses) on hedging activity
Other cash flow hedges	$	(2	)	$	(2	)	Interest expense
	(2		)	(2		)	Total before tax
	—			—			Tax benefit
	$	(2	)	$	(2	)	Net of tax
Amortization of pension and other postretirement benefit plan items
Prior service costs^(b)	$	19		$	—
Actuarial losses^(b)	(90		)	—
	(71		)	—			Total before tax
	27			—			Tax benefit
	$	(44	)	$	—		Net of tax

Total Reclassifications for the period	$	(46	)	$	(2	)	Net of Tax

Six Months Ended June 30, 2015



Details about AOCI components	Items reclassified out of AOCI^(a)						Affected line item in the Statements of Operations and Comprehensive Income
	Exelon			Generation
Gains (losses) on hedging activity
Terminated interest rate swaps ^(c)	$	(26	)	$	—		Other, net
Energy related hedges	2			2			Operating revenues
Other cash flow hedges	(5		)	(5		)	Interest expense
	(29		)	(3		)	Total before tax
	10			—			Tax benefit
	$	(19	)	$	(3	)	Net of tax
Amortization of pension and other postretirement benefit plan items
Prior service costs^(b)	$	38		$	—
Actuarial losses^(b)	(180		)	—
	(142		)	—			Total before tax
	55			—			Tax benefit
	$	(87	)	$	—		Net of tax

Total Reclassifications for the period	$	(106	)	$	(3	)	Net of Tax

Three months ended June 30, 2014



Details about AOCI components	Items reclassified out of AOCI^(a)						Affected line item in the Statements of Operations and Comprehensive Income
	Exelon			Generation
Gains on hedging activity
Energy related hedges	$	63		$	63		Operating revenues
	63			63			Total before tax
	(25		)	(25		)	Tax (expense)
	$	38		$	38		Net of tax
Amortization of pension and other postretirement benefit plan items
Prior service costs^(b)	$	12		$	—
Actuarial losses^(b)	(61		)	—
	(49		)	—			Total before tax
	18			—			Tax benefit
	$	(31	)	$	—		Net of tax
Equity investments
Reversal of CENG equity method AOCI	$	193		$	193		Gain on consolidation of CENG
	193			193			Total before tax
	(77		)	(77		)	Tax benefit
	$	116		$	116		Net of tax

Total reclassifications for the period	$	123		$	154		Net of Tax

Six Months Ended June 30, 2014



Details about AOCI components	Items reclassified out of AOCI^(a)						Affected line item in the Statements of Operations and Comprehensive Income
	Exelon			Generation
Gains on hedging activity
Energy related hedges	$	102		$	102		Operating revenues
	102			102			Total before tax
	(40		)	(40		)	Tax (expense)
	$	62		$	62		Net of tax
Amortization of pension and other postretirement benefit plan items
Prior service costs^(b)	$	10		$	—
Actuarial losses^(b)	(117		)	—
	(107		)	—			Total before tax
	41			—			Tax benefit
	$	(66	)	$	—		Net of tax
Equity investments
Reversal of CENG equity method AOCI	$	193		$	193		Gain on consolidation of CENG
	193			193			Total before tax
	(77		)	(77		)	Tax benefit
	$	116		$	116		Net of tax

Total reclassifications for the period	$	112		$	178		Net of Tax

____________


(a)	All amounts are net of tax. Amounts in parentheses 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 14— Retirement Benefits for additional details).

(c)

In January 2015, in connection with Generation's $750 million issuance of five-year Senior Unsecured Notes, Exelon terminated certain floating-to-fixed interest rate swaps. As the original forecasted transactions were a series of future interest payments over a ten year period, a portion of the anticipated interest payments are probable not to occur. As a result, $26 million of anticipated payments were reclassified from Accumulated OCI to Other, net in Exelon's Consolidated Statement of Operations and Comprehensive Income.

The following table presents income tax expense (benefit) allocated to each component of other comprehensive income (loss) during the three and six months ended June 30, 2015 and 2014:



	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
Exelon
Pension and non-pension postretirement benefit plans:
Prior service benefit reclassified to periodic benefit cost	$	8		$	5		$	15		$	5
Actuarial loss reclassified to periodic cost	(35		)	(23		)	(69		)	(46		)
Pension and non-pension postretirement benefit plans valuation adjustment	—			(166		)	17			(159		)
Change in unrealized (gain) loss on cash flow hedges	(2		)	28			(6		)	48
Change in unrealized income on equity investments	—			77			—			70
Change in unrealized loss on marketable securities	1			—			1			—
Total	$	(28	)	$	(79	)	$	(42	)	$	(82	)

Generation
Change in unrealized (gain) loss on cash flow hedges	$	(1	)	$	25		$	1		$	44
Change in unrealized income on equity investments	—			77			—			70
Change in marketable securities	—			—			1			(2		)
Total	$	(1	)	$	102		$	2		$	112