Basis of Presentation Significant Accounting Policies

3 Months Ended

Mar. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Fair Value Assets Measured On Recurring Basis Investments Valuation Techniques

Fair Value Assets Measured On Recurring Basis Cash And Cash Equivalents Valuation Techniques

The following tables present the income statement classification of the total realized and unrealized gains (losses) included in income for Level 3 assets and liabilities measured at fair value on a recurring basis during the three months ended March 31, 2016 and 2015:




	Generation				Exelon
	Operating Revenues	Purchased Power and Fuel		Other, net^(b)	Operating Revenues	Purchased Power and Fuel		Other, net^(b)
Total gains (losses) included in net income for the three months ended March 31, 2016	49	(55	)	2	49	(55	)	2
Change in the unrealized gains (losses) relating to assets and liabilities held for the three months ended March 31, 2016	254	(35	)	1	254	(35	)	1



	Generation					Exelon
	Operating Revenues		Purchased Power and Fuel		Other, net^(b)	Operating Revenues		Purchased Power and Fuel		Other, net^(b)
Total gains (losses) included in net income for the three months ended March 31, 2015	(10	)	(22	)	2	(10	)	(22	)	2
Change in the unrealized gains (losses) relating to assets and liabilities held for the three months ended March 31, 2015	169		11		1	169		11		1



	Predecessor
	PHI					Pepco
	January 1, 2016 to March 23, 2016			Three Months Ended March 31, 2015		Three Months Ended March 31, 2016		Three Months Ended March 31, 2015
	Other, net
Total (losses) gains included in net income	$	(17	)	$	1	$	1	$	1
Change in the unrealized gains (losses) relating to assets and liabilities held	1			1		1		1

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(a)	Successor period represents activity for the period of March 24, 2016 through March 31, 2016.


(b)	Other, net activity consists of realized and unrealized gains (losses) included in income for the NDT funds held by Generation.

Fair Value Assets Measured On Recurring Basis Nuclear Decommissioning Trust Fund Investments Valuation Techniques

As of March 31, 2016, Generation has outstanding commitments to invest in middle market lending, private equity investments and real estate investments of approximately $142 million, $42 million, and $135 million, respectively. These commitments will be funded by Generation’s existing nuclear decommissioning trust funds

Fair Value Assets And Liabilities Measured On Recurring Basis Derivative Financial Instruments Assets And Liabilities Valuation Techniques

Mark-to-Market Derivatives (Exelon, Generation, ComEd, PHI and DPL). Derivative contracts are traded in both exchange-based and non-exchange-based markets. Exchange-based derivatives that are valued using unadjusted quoted prices in active markets are categorized in Level 1 in the fair value hierarchy. Certain derivatives’ pricing is verified using indicative price quotations available through brokers or over-the-counter, on-line exchanges and are categorized in Level 2. These price quotations reflect the average of the bid-ask, mid-point prices and are obtained from sources that the Registrants believe provide the most liquid market for the commodity. The price quotations are reviewed and corroborated to ensure the prices are observable and representative of an orderly transaction between market participants. This includes consideration of actual transaction volumes, market delivery points, bid-ask spreads and contract duration. The remainder of derivative contracts are valued using the Black model, an industry standard option valuation model. The Black model takes into account inputs such as contract terms, including maturity, and market parameters, including assumptions of the future prices of energy, interest rates, volatility, credit worthiness and credit spread. For derivatives that trade in liquid markets, such as generic forwards, swaps and options, model inputs are generally observable. Such instruments are categorized in Level 2. The Registrants’ derivatives are predominately at liquid trading points. For derivatives that trade in less liquid markets with limited pricing information model inputs generally would include both observable and unobservable inputs. These valuations may include an estimated basis adjustment from an illiquid trading point to a liquid trading point for which active price quotations are available. Such instruments are categorized in Level 3.

Exelon may utilize fixed-to-floating interest rate swaps, which are typically designated as fair value hedges, as a means to achieve its targeted level of variable-rate debt as a percent of total debt. In addition, the Registrants may utilize interest rate derivatives to lock in interest rate levels in anticipation of future financings. These interest rate derivatives are typically designated as cash flow hedges. Exelon determines the current fair value by calculating the net present value of expected payments and receipts under the swap agreement, based on and discounted by the market's expectation of future interest rates. Additional inputs to the net present value calculation may include the contract terms, counterparty credit risk and other market parameters. As these inputs are based on observable data and valuations of similar instruments, the interest rate swaps are categorized in Level 2 in the fair value hierarchy. See Note 9 - Derivative Financial Instruments for further discussion on mark-to-market derivatives

Fair Value Liabilities Measured On Recurring Basis Obligations Valuation Techniques

Earnings Per Share, Policy [Policy Text Block]

Diluted earnings per share is calculated by dividing Net income attributable to common shareholders by the weighted average number of shares of common stock outstanding, including shares to be issued upon exercise of stock options, performance share awards and restricted stock outstanding under Exelon’s LTIPs

Earnings Per Share Policy, Diluted