XML 69 R44.htm IDEA: XBRL DOCUMENT v3.2.0.727
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2015
Segment Reporting Information [Line Items]  
Analysis and reconciliation of reportable segment information
Six Months Ended June 30, 2015 and 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Generation(a)
 
ComEd
 
PECO
 
BGE
 
Other(b)
 
Intersegment
Eliminations
 
Exelon
Total revenues(c):
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
$
10,074

 
$
2,333

 
$
1,646

 
$
1,664

 
$
657

 
$
(1,029
)
 
$
15,345

2014
8,179

 
2,262

 
1,649

 
1,707

 
619

 
(1,155
)
 
13,261

Intersegment revenues(d):
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
$
362

 
$
2

 
$
1

 
$
8

 
$
656

 
$
(1,026
)
 
$
3

2014
517

 
1

 
1

 
18

 
618

 
(1,155
)
 
—

Net income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
$
875

 
$
189

 
$
209

 
$
157

 
$
(55
)
 
$
(3
)
 
$
1,372

2014
188

 
209

 
173

 
106

 
(25
)
 
—

 
651


 __________
(a)
Generation includes the six power marketing reportable segments shown below: Mid-Atlantic, Midwest, New England, New York, ERCOT and Other Power Regions. Intersegment revenues for Generation for the six months ended June 30, 2015 include revenue from sales to PECO of $112 million and sales to BGE of $235 million in the Mid-Atlantic region, and sales to ComEd of $15 million in the Midwest. For the six months ended June 30, 2014, intersegment revenues for Generation include revenue from sales to PECO of $137 million and sales to BGE of $207 million in the Mid-Atlantic region, and sales to ComEd of $173 million in the Midwest region.
(b)
Other primarily includes Exelon’s corporate operations, shared service entities and other financing and investment activities.
(c)
For the six months ended June 30, 2015 and 2014, utility taxes of $51 million and $45 million, respectively, are included in revenues and expenses for Generation. For the six months ended June 30, 2015 and 2014, utility taxes of $117 million and $119 million, respectively, are included in revenues and expenses for ComEd. For the six months ended June 30, 2015 and 2014, utility taxes of $67 million and $65 million, respectively, are included in revenues and expenses for PECO. For the six months ended June 30, 2015 and 2014, utility taxes of $44 million and $43 million, respectively, are included in revenues and expenses for BGE.
(d)
Intersegment revenues exclude sales to unconsolidated affiliates. The intersegment profit associated with Generation’s sale of certain products and services by and between Exelon’s segments is not eliminated in consolidation due to the recognition of intersegment profit in accordance with regulatory accounting guidance. For Exelon, these amounts are included in Operating revenues in the Consolidated Statements of Operations and Comprehensive Income.

Three Months Ended June 30, 2015 and 2014
 
Generation(a)
 
ComEd
 
PECO
 
BGE
 
Other(b)
 
Intersegment Eliminations
 
Exelon
Total revenues(c):
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
$
4,232

 
$
1,148

 
$
661

 
$
628

 
$
340

 
$
(495
)
 
$
6,514

2014
3,789

 
1,128

 
656

 
653

 
329

 
(531
)
 
6,024

Intersegment revenues(d):
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
$
152

 
$
1

 
$
—

 
$
1

 
$
340

 
$
(493
)
 
$
1

2014
201

 
—

 
—

 
2

 
328

 
(531
)
 
—

Net income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
$
390

 
$
99

 
$
70

 
$
47

 
$
28

 
$
(1
)
 
$
633

2014
372

 
111

 
84

 
19

 
(29
)
 
—

 
557

Total assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
June 30, 2015
$
45,125

 
$
25,961

 
$
10,126

 
$
8,017

 
$
14,526

 
$
(11,542
)
 
$
92,213

December 31, 2014
45,348

 
25,392

 
9,943

 
8,078

 
9,794

 
(11,741
)
 
86,814

 __________
(a)
Generation includes the six power marketing reportable segments shown below: Mid-Atlantic, Midwest, New England, New York, ERCOT and Other Power Regions. Intersegment revenues for Generation for the three months ended June 30, 2015 include revenue from sales to PECO of $49 million and sales to BGE of $97 million in the Mid-Atlantic region, and sales to ComEd of $6 million in the Midwest. For the three months ended June 30, 2014, intersegment revenues for Generation include revenue from sales to PECO of $49 million and sales to BGE of $87 million in the Mid-Atlantic region, and sales to ComEd of $65 million in the Midwest region.
(b)
Other primarily includes Exelon’s corporate operations, shared service entities and other financing and investment activities.
(c)
For the three months ended June 30, 2015 and 2014, utility taxes of $24 million and $21 million, respectively, are included in revenues and expenses for Generation. For the three months ended June 30, 2015 and 2014, utility taxes of $55 million and $56 million, respectively, are included in revenues and expenses for ComEd. For the three months ended June 30, 2015 and 2014, utility taxes of $32 million and $30 million, respectively, are included in revenues and expenses for PECO. For the three months ended June 30, 2015 and 2014, utility taxes of $21 million and $19 million, respectively, are included in revenues and expenses for BGE.
(d)
Intersegment revenues exclude sales to unconsolidated affiliates. The intersegment profit associated with Generation’s sale of certain products and services by and between Exelon’s segments is not eliminated in consolidation due to the recognition of intersegment profit in accordance with regulatory accounting guidance. For Exelon, these amounts are included in Operating revenues in the Consolidated Statements of Operations and Comprehensive Income.
Analysis and reconciliation of reportable segment revenues for Generation
 
Six Months Ended June 30, 2015
 
Six Months Ended June 30, 2014
 
RNF
from External
Customers(b)
 
Intersegment
RNF
 
Total
RNF
 
RNF
from External
Customers(b)
 
Intersegment
RNF
 
Total
RNF
Mid-Atlantic(a)
$
1,659

 
$
12

 
$
1,671

 
$
1,690

 
$
(75
)
 
$
1,615

Midwest
1,446

 
(3
)
 
1,443

 
1,134

 
27

 
1,161

New England
271

 
(25
)
 
246

 
242

 
(42
)
 
200

New York(a)
313

 
19

 
332

 
113

 
14

 
127

ERCOT
179

 
(54
)
 
125

 
272

 
(130
)
 
142

Other Power Regions(c)
233

 
(125
)
 
108

 
307

 
(127
)
 
180

Total Revenues net of purchased power and fuel expense for Reportable Segments
4,101

—

(176
)
 
3,925

 
3,758

 
(333
)
 
3,425

Other(d)
691

 
176

 
867

 
(770
)
 
333

 
(437
)
Total Generation Revenues net of purchased power and fuel expense
$
4,792

—

$
—

 
$
4,792

 
$
2,988

 
$
—

 
$
2,988

 __________
(a)
On April 1, 2014, Generation assumed operational control of CENG's nuclear fleet. As a result, starting on April 1, 2014, CENG's revenue net of purchased power and fuel expense are included on a fully consolidated basis.
(b)
Includes purchases and sales from third parties and affiliated sales to ComEd, PECO and BGE.
(c)
Other Power Regions includes the South, West and Canada.
(d)
Other represents activities not allocated to a region. See text above for a description of included activities. Also includes a $24 million increase to RNF and a $92 million decrease to RNF for the amortization of intangible assets related to commodity contracts for the six months ended June 30, 2015 and 2014, respectively, unrealized mark-to-market gains of $397 million and losses of $744 million for the six months ended June 30, 2015 and 2014, respectively, and the elimination of intersegment revenue net of purchased power and fuel expense.
 
Six Months Ended June 30, 2015
 
Six Months Ended June 30, 2014
 
Revenues
from External
Customers(b)
 
Intersegment
Revenues
 
Total
Revenues
 
Revenues
from External
Customers(b)
 
Intersegment
Revenues
 
Total
Revenues
Mid-Atlantic(a)
$
2,853

 
$
6

 
$
2,859

 
$
2,713

 
$
(18
)
 
$
2,695

Midwest
2,480

 
2

 
2,482

 
2,239

 
12

 
2,251

New England
1,224

 
2

 
1,226

 
756

 
5

 
761

New York(a)
532

 
(4
)
 
528

 
384

 
(3
)
 
381

ERCOT
376

 
(4
)
 
372

 
441

 
(1
)
 
440

Other Power Regions(c)
506

 
(3
)
 
503

 
648

 
1

 
649

Total Revenues for Reportable Segments
7,971

 
(1
)
 
7,970

 
7,181

 
(4
)
 
7,177

Other(d)
2,103

 
1

 
2,104

 
998

 
4

 
1,002

Total Generation Consolidated Operating Revenues
$
10,074

 
$
—

 
$
10,074

 
$
8,179

 
$
—

 
$
8,179

 __________
(a)
On April 1, 2014, Generation assumed operational control of CENG's nuclear fleet. As a result, beginning on April 1, 2014, CENG's revenues are included on a fully consolidated basis.
(b)
Includes all wholesale and retail electric sales to third parties and affiliated sales to ComEd, PECO and BGE.
(c)
Other Power Regions includes the South, West and Canada.
(d)
Other represents activities not allocated to a region. See text above for a description of included activities. Also includes a $22 million increase to revenues and a $180 million decrease to revenues for the amortization of intangible assets related to commodity contracts for the six months ended June 30, 2015 and 2014, respectively, unrealized mark-to-market gains of $179 million and losses of $843 million for the six months ended June 30, 2015 and 2014, respectively, and elimination of intersegment revenues.
Generation total revenues net of purchased power and fuel expense:
 
Three Months Ended June 30, 2015
 
Three Months Ended June 30, 2014
 
RNF
from External
Customers(a)
 
Intersegment RNF
 
Total RNF
 
RNF
from External
Customers(a)
 
Intersegment RNF
 
Total RNF
Mid-Atlantic
$
875

 
$
14

 
$
889

 
$
906

 
$
14

 
$
920

Midwest
745

 
(2
)
 
743

 
604

 
1

 
605

New England
94

 
(6
)
 
88

 
88

 
(24
)
 
64

New York
139

 
5

 
144

 
142

 
6

 
148

ERCOT
91

 
(21
)
 
70

 
117

 
(58
)
 
59

Other Power Regions(b)
134

 
(72
)
 
62

 
157

 
(82
)
 
75

Total Revenues net of purchased power and fuel for Reportable Segments
2,078


(82
)

1,996


2,014


(143
)

1,871

Other(c)
305

 
82

 
387

 
(60
)
 
143

 
83

Total Generation Revenues net of purchased power and fuel expense
$
2,383


$
—


$
2,383


$
1,954


$
—


$
1,954


__________
(a)
Includes purchases and sales from third parties and affiliated sales to ComEd, PECO and BGE.
(b)
Other Power Regions includes the South, West and Canada.
(c)
Other represents activities not allocated to a region. See text above for a description of included activities. Also includes a $14 million decrease to RNF and a $50 million decrease to RNF for the amortization of intangible assets related to commodity contracts for the three months ended June 30, 2015 and 2014, respectively, unrealized mark-to-market gains of $235 million and losses of $14 million for the three months ended June 30, 2015 and 2014, respectively, and the elimination of intersegment revenues.

Generation total revenues:
 
Three Months Ended June 30, 2015
 
Three Months Ended June 30, 2014
 
Revenues
from External
Customers(a)

Intersegment
Revenues

Total
Revenues

Revenues
from External
Customers(a)

Intersegment
Revenues

Total
Revenues
Mid-Atlantic
$
1,336

 
$
10

 
$
1,346

 
$
1,272

 
$
5

 
$
1,277

Midwest
1,205

 
1

 
1,206

 
981

 
—

 
981

New England
366

 
1

 
367

 
211

 
1

 
212

New York
222

 
(4
)
 
218

 
194

 
—

 
194

ERCOT
194

 
(2
)
 
192

 
198

 
(1
)
 
197

Other Power Regions(b)
294

 
(5
)
 
289

 
314

 
(6
)
 
308

Total Revenues for Reportable Segments
3,617

 
1

 
3,618

 
3,170

 
(1
)
 
3,169

Other(c)
615

 
(1
)
 
614

 
619

 
1

 
620

Total Generation Consolidated Operating Revenues
$
4,232

 
$
—

 
$
4,232

 
$
3,789

 
$
—

 
$
3,789

__________
(a)
Includes all electric sales to third parties and affiliated sales to ComEd, PECO and BGE.
(b)
Other Power Regions includes the South, West and Canada.
(c)
Other represents activities not allocated to a region. See text above for a description of included activities. Also includes a $17 million decrease to revenues and an $88 million decrease to revenues for the amortization of intangible assets related to commodity contracts for the three months ended June 30, 2015 and 2014, respectively, unrealized mark-to-market gains of $25 million and losses of $83 million for the three months ended June 30, 2015 and 2014, respectively, and the elimination of intersegment revenues.