Mergers, Acquisitions and Dispositions (Tables)

3 Months Ended

Mar. 31, 2017

Business Acquisition, Pro Forma Information, Nonrecurring Adjustments [Table Text Block]



	Three Months Ended March 31,		Year Ended December 31,
	2016 (a)		2016 (b)
Total operating revenues	$	8,556	$	32,342
Net income attributable to common shareholders	577		1,562

Basic earnings per share	$	0.63	$	1.69
Diluted earnings per share	0.62		1.69

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(a)	The amounts above include adjustments for non-recurring costs directly related to the merger of $639 million and intercompany revenue of $170 million for the three months ended March 31, 2016.


(b)	The amounts above include adjustments for non-recurring costs directly related to the merger of $680 million and intercompany revenue of $171 million for the year ended December 31, 2016.

Business Combination, Separately Recognized Transactions [Table Text Block]



(In millions of dollars, except per share data)	Total Consideration
Cash paid to PHI shareholders at $27.25 per share (254 million shares outstanding at March 23, 2016)	$	6,933
Cash paid for PHI preferred stock^(a)	180
Cash paid for PHI stock-based compensation equity awards^(b)	29
Total purchase price	$	7,142

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(a)	As of December 31, 2015, the preferred stock was included in Other non-current assets on Exelon's Consolidated Balance Sheets.

(b)

PHI’s unvested time-based restricted stock units and performance-based restricted stock units issued prior to April 29, 2014 were immediately vested and paid in cash upon the close of the merger. PHI’s remaining unvested time-based restricted stock units as of the close of the merger were cancelled. There were no remaining unvested performance-based restricted stock units as of the close of the merger.



	Expected Payment Period							Successor
Description	Expected Payment Period	Pepco		DPL		ACE		PHI		Exelon
Rate credits	2016 - 2017	$	91	$	66	$	101	$	258	$	258
Energy efficiency	2016 - 2021	—		—		—		—		122
Charitable contributions	2016 - 2026	28		12		10		50		50
Delivery system modernization	Q2 2016	—		—		—		—		22
Green sustainability fund	Q2 2016	—		—		—		—		14
Workforce development	2016 - 2020	—		—		—		—		17
Other		7		7		—		14		30
Total		$	126	$	85	$	111	$	322	$	513

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the acquisition-date fair value of the consideration transferred and the assets and liabilities assumed for the FitzPatrick acquisition by Generation as of March 31, 2017:



Cash paid for purchase price	$	110
Cash paid for net cost reimbursement	129
Nuclear fuel transfer	54
Total consideration transferred	$	293

Identifiable assets acquired and liabilities assumed
Current assets	$	58
Property, plant and equipment	278
Nuclear decommissioning trust funds	807
Other assets^(a)	114
Total assets	$	1,257

Current liabilities	$	7
Asset retirement obligations	417
Pension and OPEB obligations	49
Deferred income taxes	144
Spent nuclear fuel obligation	110
Other liabilities	11
Total liabilities	$	738
Total net identifiable assets, at fair value	$	519

Bargain purchase gain (after-tax)	$	226

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(a)	Includes a $110 million asset associated with a contractual right to reimbursement from the New York Power Authority (NYPA), a prior owner of FitzPatrick, associated with the DOE one-time fee obligation. See Note 24-Commitments and Contingencies of the Exelon 2016 Form 10-K for additional background regarding SNF obligations to the DOE.



Purchase Price Allocation ^(a)
Current assets	$	1,441
Property, plant and equipment	11,088
Regulatory assets	5,015
Other assets	248
Goodwill	4,005
Total assets	$	21,797

Current liabilities	$	2,752
Unamortized energy contracts	1,515
Regulatory liabilities	297
Long-term debt, including current maturities	5,636
Deferred income taxes	3,447
Pension and OPEB obligations	821
Other liabilities	187
Total liabilities	$	14,655
Total purchase price	$	7,142

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(a)	Amounts shown reflect the final purchase price allocation and the correction of a reporting error identified and corrected in the second quarter of 2016. The error had resulted in a gross up of certain assets and liabilities related to legacy PHI intercompany and income tax receivable and payable balances.

Restructuring and Related Costs



	Three Months Ended March 31,
Acquisition, Integration and Financing Costs^(a)	2017			2016
Exelon^(b)	$	9		$	102
Generation	9			16
ComEd^(c)	—			(8		)
PECO	1			2
BGE	2			2
Pepco	1			27
DPL^(d)	(7		)	16
ACE	1			13



	Successor					Predecessor
Acquisition, Integration and Financing Costs^(a)	Three Months Ended March 31, 2017			March 24, 2016 to March 31, 2016		January 1, 2016 to March 23, 2016
PHI^(d)	$	(5	)	$	56	$	29

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(a)	The costs incurred are classified primarily within Operating and maintenance expense in the Registrants’ respective Consolidated Statements of Operations and Comprehensive Income, with the exception of the financing costs, which are included within Interest expense. Costs do not include merger commitments discussed above.


(b)	Reflects costs (benefits) recorded at Exelon related to financing, including mark-to-market activity on forward-starting interest rate swaps.


(c)	For the three months ended March 31, 2016, includes the reversal of previously incurred acquisition, integration and financing costs of $9 million, incurred at ComEd that have been deferred and recorded as a regulatory asset for anticipated recovery. See Note 5—Regulatory Matters for more information.


(d)	For the three months ended March 31, 2017, includes the reversal of previously incurred acquisition, integration and financing costs of $8 million, incurred at DPL that have been deferred and recorded as a regulatory asset for anticipated recovery. See Note 5—Regulatory Matters for more information.

For the three months ended March 31, 2017 and 2016, Exelon, Generation, and ComEd recorded the following severance costs (benefits) associated with these ongoing severance benefits within Operating and maintenance expense in their Consolidated Statements of Operations and Comprehensive Income.




	Exelon		Generation^(a)		ComEd^(a)
Three Months Ended
March 31, 2017	$	4	$	3	$	1
March 31, 2016	2		2		—

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(a)	The amounts above for Generation include $1 million for amounts billed by BSC through intercompany allocations for both the three months ended March 31, 2017 and 2016. Amounts billed by BSC to ComEd were immaterial.

For the three months ended March 31, 2017 and 2016, the Registrants recorded the following severance costs related to the cost management program within Operating and maintenance expense in their Consolidated Statements of Operations and Comprehensive Income, pursuant to the authoritative guidance for ongoing severance plans:



	Exelon			Generation			ComEd		PECO		BGE
Three Months Ended
March 31, 2017^(a)	$	(1	)	$	(1	)	$	—	$	—	$	—
March 31, 2016^(b)	$	17		$	12		$	3	$	1	$	1

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(a)	Amounts billed by BSC through intercompany allocations for the three months ended March 31, 2017 were immaterial.


(b)	The amounts above for Generation, ComEd, PECO and BGE include $7 million, $3 million, $1 million and $1 million, respectively, for amounts billed by BSC through intercompany allocations for the three months ended March 31, 2016.

For the three months ended March 31, 2017, the PHI merger severance costs were immaterial. For the three months ended March 31, 2016, the Registrants recorded the following severance costs associated with the identified job reductions within Operating and maintenance expense in their Consolidated Statements of Operations and Comprehensive Income, pursuant to the authoritative guidance for ongoing severance plans:



											Successor
	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Three Months Ended March 31, 2016
Severance benefits^(a)	$	52	$	10	$	2	$	1	$	1	$	37	$	18	$	11	$	8

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(a)	The amounts above for Generation, ComEd, PECO, BGE, Pepco, DPL and ACE include $9 million, $2 million, $1 million, $1 million, $18 million, $11 million and $8 million, respectively, for amounts billed by BSC and/or PHISCO through intercompany allocations for the three months ended March 31, 2016.

Schedule of Goodwill [Table Text Block]