XML 280 R192.htm IDEA: XBRL DOCUMENT v3.3.1.900
Segment Information - Analysis and Reconciliation to Consolidated Financial Statements (Details) - USD ($)
$ in Millions
2 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2014
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Segment Reporting Information [Line Items]                        
Revenues   $ 6,702 $ 7,401 $ 6,514 $ 8,830 $ 7,255 $ 6,912 $ 6,024 $ 7,237 $ 29,447 $ 27,429 $ 24,888
Competitive Energy Revenue                   15,200 13,773 12,496
Other Alternative Energy Sales Revenue                     154  
Electric Revenue                   9,876 9,467 9,365
Gas Domestic Regulated Revenue                   1,176 1,325 1,246
Other Operating Income                   757   46
Revenue from Purchased Oil and Gas                   2,433 2,704 1,721
Operating revenues from affiliates                   9 23 70
Depreciation and amortization                   2,450 2,314 2,153
Operating Expenses [1]                   25,056 25,039 21,242
Equity in earnings (losses) of unconsolidated affiliates                   (7) (20) 10
Interest expense, net                   1,033 1,065 1,356
Income (loss) from continuing operations before income taxes                   3,330 2,486 2,773
Income taxes                   1,073 666 1,044
Net income   309 [2] 629 638 693 18 993 522 90 [3] 2,250 1,820 1,729
Assets [4] $ 86,416 95,384       86,416       95,384 86,416  
Utility taxes [5]                   474 456 449
Payments to Acquire Property, Plant, and Equipment                   7,624 6,077 5,395
Sales Revenue, Services, Other                   5 6 14
PECO Energy Co Affiliate [Member]                        
Segment Reporting Information [Line Items]                        
Operating revenues from affiliates [6]                   1 1 10
Generation Midwest [Member]                        
Segment Reporting Information [Line Items]                        
Revenues                   4,710 4,475 4,270
Operating Segments [Member] | Exelon Generation Co L L C [Member]                        
Segment Reporting Information [Line Items]                        
Competitive Energy Revenue [7]                   15,944 14,533 13,862
Electric Revenue [7]                   0 0 0
Gas Domestic Regulated Revenue [7]                   0 0 0
Other Operating Income [7]                   758 155 47
Revenue from Purchased Oil and Gas [7]                   2,433 2,705 1,721
Depreciation and amortization [7]                   1,054 967 856
Operating Expenses [1],[7]                   16,872 16,923 13,976
Equity in earnings (losses) of unconsolidated affiliates [7]                   (8) (20) 10
Interest expense, net [7]                   365 356 357
Income (loss) from continuing operations before income taxes [7]                   1,850 1,226 1,675
Income taxes [7]                   502 207 615
Net income [7]                   1,340 1,019 1,060
Assets [7] 44,951 46,529       44,951       46,529 44,951  
Payments to Acquire Property, Plant, and Equipment [7]                   3,841 3,012 2,752
Sales Revenue, Services, Other [7]                   0 0 0
Operating Segments [Member] | Commonwealth Edison Co [Member]                        
Segment Reporting Information [Line Items]                        
Competitive Energy Revenue                   0 0 0
Electric Revenue                   4,905 4,564 4,464
Gas Domestic Regulated Revenue                   0 0 0
Other Operating Income                   0 0 0
Revenue from Purchased Oil and Gas                   0 0 0
Depreciation and amortization                   707 687 669
Operating Expenses [1]                   3,889 3,586 3,510
Equity in earnings (losses) of unconsolidated affiliates                   0 0 0
Interest expense, net                   332 321 579
Income (loss) from continuing operations before income taxes                   706 676 401
Income taxes                   280 268 152
Net income                   426 408 249
Assets 25,358 26,532       25,358       26,532 25,358  
Payments to Acquire Property, Plant, and Equipment                   2,398 1,689 1,433
Sales Revenue, Services, Other                   0 0 0
Operating Segments [Member] | PECO Energy Co [Member]                        
Segment Reporting Information [Line Items]                        
Competitive Energy Revenue                   0 0 0
Electric Revenue                   2,486 2,448 2,500
Gas Domestic Regulated Revenue                   546 646 600
Other Operating Income                   0 0 0
Revenue from Purchased Oil and Gas                   0 0 0
Depreciation and amortization                   260 236 228
Operating Expenses [1]                   2,404 2,522 2,434
Equity in earnings (losses) of unconsolidated affiliates                   0 0 0
Interest expense, net                   114 113 115
Income (loss) from continuing operations before income taxes                   521 466 557
Income taxes                   143 114 162
Net income                   378 352 395
Assets 9,860 10,367       9,860       10,367 9,860  
Payments to Acquire Property, Plant, and Equipment                   601 661 537
Sales Revenue, Services, Other                   0 0 0
Operating Segments [Member] | Baltimore Gas and Electric Company [Member]                        
Segment Reporting Information [Line Items]                        
Competitive Energy Revenue [8]                   0 0 0
Electric Revenue [8]                   2,490 2,460 2,405
Gas Domestic Regulated Revenue [8]                   645 705 660
Other Operating Income [8]                   0 0 0
Revenue from Purchased Oil and Gas [8]                   0 0 0
Depreciation and amortization [8]                   366 371 348
Operating Expenses [1],[8]                   2,578 2,726 2,616
Equity in earnings (losses) of unconsolidated affiliates [8]                   0 0 0
Interest expense, net [8]                   99 106 122
Income (loss) from continuing operations before income taxes [8]                   477 351 344
Income taxes [8]                   189 140 134
Net income [8]                   288 211 210
Assets [8] 8,056 8,295       8,056       8,295 8,056  
Payments to Acquire Property, Plant, and Equipment [8]                   719 620 587
Sales Revenue, Services, Other [8]                   0 0 0
Operating Segments [Member] | Generation Midwest [Member]                        
Segment Reporting Information [Line Items]                        
Revenues [9]                   4,712 4,488 4,298
Other Segments [Member] | Corporate and Other [Member]                        
Segment Reporting Information [Line Items]                        
Competitive Energy Revenue [10]                   0 0 0
Electric Revenue [10]                   0 0 0
Gas Domestic Regulated Revenue [10]                   0 0 0
Other Operating Income [10]                   0 0 0
Revenue from Purchased Oil and Gas [10]                   0 0 0
Depreciation and amortization [10]                   63 53 52
Operating Expenses [1],[10]                   1,444 1,353 1,324
Equity in earnings (losses) of unconsolidated affiliates [10]                   1 0 0
Interest expense, net [10]                   123 169 183
Income (loss) from continuing operations before income taxes [10]                   (219) (227) (191)
Income taxes [10]                   (41) (63) (20)
Net income [10]                   (177) (164) (171)
Assets [10] 9,711 15,389       9,711       15,389 9,711  
Payments to Acquire Property, Plant, and Equipment [10]                   65 95 86
Sales Revenue, Services, Other [10]                   1,372 1,285 1,241
Intersegment Eliminations [Member]                        
Segment Reporting Information [Line Items]                        
Competitive Energy Revenue                   (744) (760) (1,366)
Electric Revenue                   (5) (5) (4)
Gas Domestic Regulated Revenue                   (15) (26) (14)
Other Operating Income                   (1) (1) (1)
Revenue from Purchased Oil and Gas                   0 (1) 0
Operating revenues from affiliates [11]                   5 6 14
Depreciation and amortization                   0 0 0
Operating Expenses [1]                   (2,131) (2,071) (2,618)
Equity in earnings (losses) of unconsolidated affiliates                   0 0 0
Interest expense, net                   0 0 0
Income (loss) from continuing operations before income taxes                   (5) (6) (13)
Income taxes                   0 0 1
Net income                   (5) (6) (14)
Assets (11,520) (11,728)       (11,520)       (11,728) (11,520)  
Payments to Acquire Property, Plant, and Equipment                   0 0 0
Sales Revenue, Services, Other                   (1,367) (1,279) (1,227)
Intersegment Eliminations [Member] | Exelon Generation Co L L C [Member]                        
Segment Reporting Information [Line Items]                        
Operating revenues from affiliates                   745 762 [7],[11] 1,367 [7],[11]
Intersegment Eliminations [Member] | Commonwealth Edison Co [Member]                        
Segment Reporting Information [Line Items]                        
Operating revenues from affiliates                   4 4 [11] 3 [11]
Intersegment Eliminations [Member] | PECO Energy Co [Member]                        
Segment Reporting Information [Line Items]                        
Operating revenues from affiliates                   2 [12] 2 [11] 1 [11]
Intersegment Eliminations [Member] | Baltimore Gas and Electric Company [Member]                        
Segment Reporting Information [Line Items]                        
Operating revenues from affiliates                   14 [13] 25 [8],[11] 13 [8],[11]
Intersegment Eliminations [Member] | Corporate and Other [Member]                        
Segment Reporting Information [Line Items]                        
Operating revenues from affiliates [10],[11]                   1,367 1,280 1,237
Intersegment Eliminations [Member] | Generation Midwest [Member]                        
Segment Reporting Information [Line Items]                        
Operating revenues from affiliates                   (2) (13) (28)
Intersegment Eliminations [Member] | Segment Elimination [Member]                        
Segment Reporting Information [Line Items]                        
Operating revenues from affiliates [11]                   (2,127) (2,067) (2,607)
Exelon Generation Co L L C [Member]                        
Segment Reporting Information [Line Items]                        
Revenues 386 4,294 4,768 4,232 5,840 4,802 4,412 3,789 4,390 19,135 17,393 15,630
Operating revenues from affiliates                   749 779 1,423
Equity in earnings (losses) of unconsolidated affiliates                   (8)    
Income (loss) from continuing operations before income taxes                   1,850 1,226 1,675
Income taxes                   502 207 615
Net income (42) 154 377 398 443 (91) 771 340 (185) 1,340 1,019 1,060
Assets [14] 44,951 46,529       44,951       46,529 44,951  
Utility taxes [5]                   105 89 79
Payments to Acquire Property, Plant, and Equipment                   3,841 3,012 2,752
Exelon Generation Co L L C [Member] | PECO Energy Co Affiliate [Member]                        
Segment Reporting Information [Line Items]                        
Operating revenues from affiliates [15]                   224 198 405
Exelon Generation Co L L C [Member] | Baltimore Gas And Electric Company Affiliate [Member]                        
Segment Reporting Information [Line Items]                        
Operating revenues from affiliates [16]                   502 387 455
Exelon Generation Co L L C [Member] | Commonwealth Edison Co Affiliate [Member]                        
Segment Reporting Information [Line Items]                        
Operating revenues from affiliates [17]                   18 176 506
Exelon Generation Co L L C [Member] | Intersegment Eliminations [Member] | Commonwealth Edison Co Affiliate [Member]                        
Segment Reporting Information [Line Items]                        
Operating revenues from affiliates [17]                       7
Commonwealth Edison Co [Member]                        
Segment Reporting Information [Line Items]                        
Revenues   1,196 1,376 1,148 1,185 1,079 1,222 1,128 1,134 4,905 4,564 4,464
Operating revenues from affiliates                   4 4 3
Income taxes                   280 268 152
Net income   87 149 99 90 73 126 111 98 426 408 249
Assets 25,358 26,532       25,358       26,532 25,358  
Utility taxes [5]                   236 238 241
Payments to Acquire Property, Plant, and Equipment                   2,398 1,689 1,433
PECO Energy Co [Member]                        
Segment Reporting Information [Line Items]                        
Revenues   645 740 661 985 750 693 656 993 3,032 3,094 3,100
Electric Revenue                   2,485 2,446 2,499
Gas Domestic Regulated Revenue                   545 646 600
Operating revenues from affiliates                   2 2 1
Income (loss) from continuing operations before income taxes                   521 466 557
Income taxes                   143 114 162
Net income   79 90 70 139 98 81 84 89 378 352 395
Assets 9,860 10,367       9,860       10,367 9,860  
Utility taxes [5]                   133 128 129
Payments to Acquire Property, Plant, and Equipment                   601 661 537
Baltimore Gas and Electric Company [Member]                        
Segment Reporting Information [Line Items]                        
Revenues   746 725 628 1,036 761 697 653 1,054 3,135 3,165 3,065
Electric Revenue                   2,490 2,460 2,405
Gas Domestic Regulated Revenue                   631 680 647
Operating revenues from affiliates                   14 25 13
Income (loss) from continuing operations before income taxes                   477 351 344
Income taxes                   189 140 134
Net income   74 $ 51 $ 44 $ 106 52 $ 46 $ 16 $ 85 288 211 210
Assets [18] $ 8,056 $ 8,295       $ 8,056       8,295 8,056  
Utility taxes [5]                   85 86 82
Payments to Acquire Property, Plant, and Equipment                   $ 719 $ 620 $ 587
[1] 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.
[2] Includes charges to earnings related to the impairments of certain generating assets which were held for sale and certain Upstream exploration assets. See Note 8—Impairment of Long-Lived Assets of the Combined Notes to Consolidated Financial Statements for additional information.
[3] {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmJiZTkxZGVlYTU0NDQzYzU5MmI5ODA2YTIzODFjMGRkfFRleHRTZWxlY3Rpb246NEExNTZFREE4NkYwMUZCQUZDQTExMjI1RThCRDM3QzcM}
[4] Exelon’s consolidated assets include $8,268 million and $8,159 million at December 31, 2015 and December 31, 2014, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Exelon’s consolidated liabilities include $3,264 million and $2,728 million at December 31, 2015 and December 31, 2014, respectively, of certain VIEs for which the VIE creditors do not have recourse to Exelon. See Note 2–Variable Interest Entities.
[5] Generation’s utility tax represents gross receipts tax related to its retail operations and ComEd’s, PECO’s and BGE’s utility taxes represent municipal and state utility taxes and gross receipts taxes related to their operating revenues. The offsetting collection of utility taxes from customers is recorded in revenues on the Registrants’ Consolidated Statements of Operations and Comprehensive Income.
[6] The intersegment profit associated with the 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 Statement of Operations. See Note 3—Regulatory Matters for additional information.
[7] Generation includes the six power marketing reportable segments shown below: Mid-Atlantic, Midwest, New England, New York, ERCOT and Other Power Regions. For the year ended December 31, 2015, intersegment revenues for Generation include revenue from sales to PECO of $224 million and sales to BGE of $502 million in the Mid-Atlantic region, and sales to ComEd of $18 million in the Midwest region, which eliminate upon consolidation. For the year ended December 31, 2014, intersegment revenues for Generation include revenue from sales to PECO of $198 million and sales to BGE of $387 million in the Mid-Atlantic region, and sales to ComEd of $176 million in the Midwest region, which eliminate upon consolidation. For the year ended December 31, 2013, intersegment revenues for Generation include revenue from sales to PECO of $405 million and sales to BGE of $455 million in the Mid-Atlantic region, and sales to ComEd of $506 million in the Midwest region, net of $7 million related to the unrealized mark-to-market losses related to the ComEd swap, which eliminate upon consolidation.
[8] (b)Other primarily includes Exelon’s corporate operations, shared service entities and other financing and investment activities.
[9] (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.
[10] (c)For the years ended December 31, 2015, 2014 and 2013, utility taxes of $105 million, $89 million and $79 million, respectively, are included in revenues and expenses for Generation. For the years ended December 31, 2015, 2014 and 2013, utility taxes of $236 million, $238 million and $241 million, respectively, are included in revenues and expenses for ComEd. For the years ended December 31, 2015, 2014 and 2013, utility taxes of $133 million, $128 million and $129 million, respectively, are included in revenues and expenses for PECO. For the years ended December 31, 2015, 2014 and 2013, utility taxes of $85 million, $86 million and $82 million are included in revenues and expenses for BGE, respectively.
[11] 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.
[12] PECO provides energy to Generation for Generation’s own use.
[13] BGE provides energy to Generation for Generation’s own use.
[14] Generation’s consolidated assets include $8,235 million and $8,118 million at December 31, 2015 and 2014, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Generation’s consolidated liabilities include $3,135 million and $2,512 million at December 31, 2015 and 2014, respectively, of certain VIEs for which the VIE creditors do not have recourse to Generation. See Note 2–Variable Interest Entities.
[15] Generation provides electric supply to PECO under contracts executed through PECO’s competitive procurement process. In addition, Generation has five-year and ten-year agreements with PECO to sell non-solar and solar AECs, respectively. See Note 3—Regulatory Matters for additional information.
[16] Generation provides a portion of BGE’s energy requirements under its MDPSC-approved market-based SOS and gas commodity programs. See Note 3—Regulatory Matters for additional information.
[17] Generation has an ICC-approved RFP contract with ComEd to provide a portion of ComEd’s electricity supply requirements. Generation also sells RECs to ComEd. In addition, Generation had revenue from ComEd associated with the settled portion of the financial swap contract established as part of the Illinois Settlement. See Note 3—Regulatory Matters for additional information.
[18] BGE’s consolidated assets include $26 million and $24 million at December 31, 2015 and December 31, 2014, respectively, of BGE’s consolidated VIE that can only be used to settle the liabilities of the VIE. BGE’s consolidated liabilities include $122 million and $197 million at December 31, 2015 and December 31, 2014, respectively, of BGE’s consolidated VIE for which the VIE creditors do not have recourse to BGE. See Note 2 - Variable Interest Entities.