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Supplemental Financial Information (All Registrants)
6 Months Ended
Jun. 30, 2018
Supplemental Financial Information [Abstract]  
Supplemental Financial Information (All Registrants)
Supplemental Financial Information (All Registrants)
Supplemental Statement of Operations Information
The following tables provide additional information about the Registrants’ Consolidated Statements of Operations and Comprehensive Income for the three and six months ended June 30, 2018 and 2017.
 
Three Months Ended June 30, 2018
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Other, Net
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Decommissioning-related activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net realized income on decommissioning trust funds(a)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Regulatory agreement units
$
216

 
$
216

 
$

 
$

 
$

 
$

 
$

 
$

 
$

Non-regulatory agreement units
143

 
143

 

 

 

 

 

 

 

Net unrealized losses on decommissioning trust funds
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Regulatory agreement units
(194
)
 
(194
)
 

 

 

 

 

 

 

Non-regulatory agreement units
(120
)
 
(120
)
 

 

 

 

 

 

 

Net unrealized gains on pledged assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Zion Station decommissioning
4

 
4

 

 

 

 

 

 

 

Regulatory offset to decommissioning trust fund-related activities(b)
(23
)
 
(23
)
 

 

 

 

 

 

 

Total decommissioning-related activities
26

 
26

 

 

 



 

 

 

Investment income
6

 
5

 

 

 

 

 

 

 

Interest income related to uncertain income tax positions
2

 

 

 

 

 

 

 

 

AFUDC — Equity
13

 

 
2

 

 
4

 
7

 
6

 
1

 

Non-service net periodic benefit cost
(11
)
 

 

 

 

 

 

 

 

Other
8

 
(2
)
 
2

 

 

 
4

 
2

 
2

 
1

Other, net
$
44


$
29


$
4


$


$
4


$
11


$
8


$
3


$
1

 
Six Months Ended June 30, 2018
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Other, Net
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Decommissioning-related activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net realized income on decommissioning trust funds(a)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Regulatory agreement units
$
262

 
$
262

 
$

 
$

 
$

 
$

 
$

 
$

 
$

Non-regulatory agreement units
199

 
199

 

 

 

 

 

 

 

Net unrealized losses on decommissioning trust funds
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Regulatory agreement units
(268
)
 
(268
)
 

 

 

 

 

 

 

Non-regulatory agreement units
(215
)
 
(215
)
 

 

 

 

 

 

 

Net unrealized gains on pledged assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Zion Station decommissioning
2

 
2

 

 

 

 

 

 

 

Regulatory offset to decommissioning trust fund-related activities(b)
(1
)
 
(1
)
 

 

 

 

 

 

 

Total decommissioning-related activities
(21
)
 
(21
)
 

 

 

 



 

 

Investment income
10

 
7

 

 

 

 

 

 

 

Interest income related to uncertain income tax positions
4

 
1

 

 

 

 

 

 

 

AFUDC — Equity
31

 

 
8

 
2

 
8

 
13

 
12

 
1

 

Non-service net periodic benefit cost
(21
)
 

 

 

 

 

 

 

 

Other
14

 
(2
)
 
4

 

 
1

 
9

 
4

 
4

 
1

Other, net
$
17


$
(15
)

$
12


$
2


$
9

 
$
22


$
16


$
5


$
1

 
Three Months Ended June 30, 2017
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Other, Net
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Decommissioning-related activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net realized income on decommissioning trust funds(a)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Regulatory agreement units
$
211

 
$
211

 
$

 
$

 
$

 
$

 
$

 
$

 
$

Non-regulatory agreement units
74

 
74

 

 

 

 

 

 

 

Net unrealized (losses) gains on decommissioning trust funds
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Regulatory agreement units
(13
)
 
(13
)
 

 

 

 

 

 

 

Non-regulatory agreement units
70

 
70

 

 

 

 

 

 

 

Net unrealized losses on pledged assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Zion Station decommissioning
(2
)
 
(2
)
 

 

 

 

 

 

 

Regulatory offset to decommissioning trust fund-related activities(b)
(160
)
 
(160
)
 

 

 

 

 

 

 

Total decommissioning-related activities
180

 
180

 

 

 





 

 

Investment income
2

 
1

 

 

 

 

 

 

 

Interest expense related to uncertain income tax positions
(1
)
 

 

 

 

 

 

 

 

Penalty income related to uncertain income tax positions
1

 

 

 

 

 

 

 

 

AFUDC — Equity
17

 

 
2

 
2

 
4

 
9

 
5

 
2

 
2

Non-service net periodic benefit cost
(28
)
 

 

 

 

 

 

 

 

Other
6

 

 
2

 

 

 
4

 
2

 
1

 

Other, net
$
177


$
181


$
4


$
2


$
4

 
$
13


$
7


$
3


$
2

 
Six Months Ended June 30, 2017
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Other, Net
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Decommissioning-related activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net realized income on decommissioning trust funds(a)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Regulatory agreement units
$
280

 
$
280

 
$

 
$

 
$

 
$

 
$

 
$

 
$

Non-regulatory agreement units
106

 
106

 

 

 

 

 

 

 

Net unrealized gains on decommissioning trust funds
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Regulatory agreement units
210

 
210

 

 

 

 

 

 

 

Non-regulatory agreement units
235

 
235

 

 

 

 

 

 

 

Net unrealized losses on pledged assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Zion Station decommissioning
(2
)
 
(2
)
 

 

 

 

 

 

 

Regulatory offset to decommissioning trust fund-related activities(b)
(396
)
 
(396
)
 

 

 

 

 

 

 

Total decommissioning-related activities
433

 
433

 

 

 

 



 

 

Investment income (expense)
4

 
3

 

 
(1
)
 

 
1

 
1

 

 

Penalty income related to uncertain income tax positions
2

 

 

 

 

 

 

 

 

AFUDC — Equity
33

 

 
4

 
4

 
8

 
17

 
11

 
3

 
3

Non-service net periodic benefit cost
(54
)
 

 

 

 

 

 

 

 

Other
16

 
4

 
4

 

 

 
8

 
3

 
3

 
1

Other, net
$
434


$
440


$
8


$
3


$
8

 
$
26


$
15

 
$
6

 
$
4

_________
(a)
Includes investment income and realized gains and losses on sales of investments of the trust funds.
(b)
Includes the elimination of NDT fund activity for the Regulatory Agreement Units, including the elimination of net income taxes related to all NDT fund activity for those units. See Note 15Asset Retirement Obligations of the Exelon 2017 Form 10-K for additional information regarding the accounting for nuclear decommissioning.
The following utility taxes are included in revenues and expenses for the three and six months ended June 30, 2018 and 2017. Generation’s utility tax expense represents gross receipts tax related to its retail operations, and the Utility Registrants' utility tax expense represents 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.
 
Three Months Ended June 30, 2018
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Utility taxes
$
218


$
29


$
60


$
30


$
21

 
$
78

 
$
73


$
5


$


 
Six Months Ended June 30, 2018
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Utility taxes
$
452


$
60


$
121


$
63


$
47

 
$
161

 
$
151


$
10


$

 
Three Months Ended June 30, 2017
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Utility taxes
$
213


$
30


$
57


$
29


$
21

 
$
76

 
$
72


$
4


$

 
Six Months Ended June 30, 2017
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Utility taxes
$
438


$
63


$
116


$
60


$
47

 
$
152

 
$
143


$
9


$


Supplemental Cash Flow Information
The following tables provide additional information regarding the Registrants’ Consolidated Statements of Cash Flows for the six months ended June 30, 2018 and 2017.
 
Six Months Ended June 30, 2018
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Depreciation, amortization and accretion
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property, plant and equipment(a)
$
1,873

 
$
890

 
$
406

 
$
135

 
$
164

 
$
236

 
$
107

 
$
64

 
$
47

Amortization of regulatory assets(a)
278

 

 
53

 
14

 
84

 
127

 
81

 
24

 
22

Amortization of intangible assets, net(a)
28

 
24

 

 

 

 

 

 

 

Amortization of energy contract assets and liabilities(b)
10

 
10

 

 

 

 

 

 

 

Nuclear fuel(c)
569

 
569

 

 

 

 

 

 

 

ARO accretion(d)
242

 
242

 

 

 

 

 

 

 

Total depreciation, amortization and accretion
$
3,000


$
1,735


$
459


$
149


$
248

 
$
363

 
$
188


$
88


$
69

 
Six Months Ended June 30, 2017
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Depreciation, amortization and accretion
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property, plant and equipment(a)
$
1,545

 
$
612

 
$
384

 
$
129

 
$
155

 
$
227

 
$
101

 
$
61

 
$
44

Amortization of regulatory assets(a)
238

 

 
35

 
12

 
84

 
105

 
59

 
18

 
28

Amortization of intangible assets, net(a)
28

 
25

 

 

 

 

 

 

 

Amortization of energy contract assets and liabilities(b)
20

 
20

 

 

 

 

 

 

 

Nuclear fuel(c)
529

 
529

 

 

 

 

 

 

 

ARO accretion(d)
231

 
229

 

 

 

 

 

 

 

Total depreciation, amortization and accretion
$
2,591


$
1,415


$
419


$
141


$
239

 
$
332

 
$
160


$
79


$
72

_________
(a)
Included in Depreciation and amortization on the Registrants' Consolidated Statements of Operations and Comprehensive Income.
(b)
Included in Operating revenues or Purchased power and fuel expense on the Registrants’ Consolidated Statements of Operations and Comprehensive Income.
(c)
Included in Purchased power and fuel expense on the Registrants’ Consolidated Statements of Operations and Comprehensive Income.
(d)
Included in Operating and maintenance expense on the Registrants’ Consolidated Statements of Operations and Comprehensive Income.
 
Six Months Ended June 30, 2018
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Other non-cash operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension and non-pension postretirement benefit costs
$
290

 
$
100

 
$
88

 
$
10

 
$
29

 
$
34

 
$
8

 
$
3

 
$
6

Loss from equity method investments
12

 
12

 

 

 

 

 

 

 

Provision for uncollectible accounts
77

 
28

 
18

 
11

 
5

 
15

 
7

 
2

 
5

Stock-based compensation costs
47

 

 

 

 

 

 

 

 

Other decommissioning-related activity(a)
(61
)
 
(61
)
 

 

 

 

 

 

 

Energy-related options(b)
(7
)
 
(7
)
 

 

 

 

 

 

 

Amortization of regulatory asset related to debt costs
4

 

 
2

 

 

 
2

 
1

 
1

 

Amortization of rate stabilization deferral
13

 

 

 

 

 
13

 
10

 
3

 

Amortization of debt fair value adjustment
(7
)
 
(6
)
 

 

 

 
(1
)
 

 

 

Discrete impacts from EIMA and FEJA(c)
14

 

 
14

 

 

 

 

 

 

Amortization of debt costs
18

 
7

 
2

 
1

 
1

 
3

 
1

 

 

Provision for excess and obsolete inventory
13

 
12

 
1

 

 

 

 

 

 

Long-term incentive plan
51

 

 

 

 

 

 

 

 

Other
15

 

 
(8
)
 

 
(8
)
 
5

 
(3
)
 
5

 
1

Total other non-cash operating activities
$
479


$
85


$
117


$
22


$
27

 
$
71

 
$
24


$
14


$
12

Non-cash investing and financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Decrease) increase in capital expenditures not paid
$
(283
)
 
$
(310
)
 
$
(22
)
 
$
(17
)
 
$
10

 
$
61

 
$
28

 
$
17

 
$
14

Increase in PPE related to ARO update
47

 
47

 

 

 

 

 

 

 

Dividends on stock compensation
3

 

 

 

 

 

 



 

Acquisition of land
3

 

 

 

 

 
3

 

 

 
3

 
Six Months Ended June 30, 2017
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Other non-cash operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension and non-pension postretirement benefit costs
$
320

 
$
113

 
$
87

 
$
14

 
$
31

 
$
48

 
$
13

 
$
6

 
$
7

Loss from equity method investments
19

 
19

 

 

 

 

 

 

 

Provision for uncollectible accounts
52

 
19

 
15

 
9

 
3

 
6

 
4

 

 
2

Stock-based compensation costs
57

 

 

 

 

 

 

 

 

Other decommissioning-related activity(a)
(144
)
 
(144
)
 

 

 

 

 

 

 

Energy-related options(b)
11

 
11

 

 

 

 

 

 

 

Amortization of regulatory asset related to debt costs
4

 

 
2

 

 

 
2

 
1

 
1

 

Amortization of rate stabilization deferral
(8
)
 

 

 

 
7

 
(15
)
 
(10
)
 
(5
)
 

Amortization of debt fair value adjustment
(9
)
 
(6
)
 

 

 

 
(3
)
 

 

 

Discrete impacts from EIMA and FEJA (c)
(51
)
 

 
(51
)
 

 

 

 

 

 

Amortization of debt costs
49

 
30

 
2

 
1

 
1

 

 

 

 

Provision for excess and obsolete inventory
51

 
49

 
1

 

 

 
1

 

 

 

Merger-related commitments(d)

 

 

 

 

 
(8
)
 
(6
)
 
(2
)
 

Severance costs
25

 
17

 

 

 

 
3

 

 

 

Other
39

 
13

 
2

 
(2
)
 
(7
)
 
(6
)
 
(2
)
 
(3
)
 
(2
)
Total other non-cash operating activities
$
415


$
121


$
58


$
22


$
35

 
$
28

 
$


$
(3
)

$
7

Non-cash investing and financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Decrease) increase in capital expenditures not paid
$
(105
)
 
$
48

 
$
(82
)
 
$
(44
)
 
$
6

 
$
(8
)
 
$

 
$
15

 
$
(14
)
Fair value of pension obligation transferred in connection with the FitzPatrick acquisition

 
49

 

 

 

 

 

 

 

Change in PPE related to ARO update
103

 
103

 

 

 

 

 

 

 

Indemnification of like-kind exchange tax position(e)

 

 
23

 

 

 

 

 

 

Non-cash financing of capital projects
13

 
13

 

 

 

 

 

 

 

Dividends on stock compensation
3

 

 

 

 

 

 

 

 

Loss on reissuance of treasury stock
1,054

 

 

 

 

 

 

 

 


_________
(a)
Includes the elimination of NDT fund activity for the Regulatory Agreement Units, including the elimination of operating revenues, ARO accretion, ARC amortization, investment income and income taxes related to all NDT fund activity for these units. See Note 15Asset Retirement Obligations of the Exelon 2017 Form 10-K for additional information regarding the accounting for nuclear decommissioning.
(b)
Includes option premiums reclassified to realized at the settlement of the underlying contracts and recorded in Operating revenues and expenses.
(c)
Reflects the change in ComEd's distribution and energy efficiency formula rates. See Note 6Regulatory Matters for additional information.
(d)
See Note 4 - Mergers, Acquisitions and Dispositions for additional information.
(e)
See Note 12 - Income Taxes for discussion of the like-kind exchange tax position.
The following tables provide a reconciliation of cash, cash equivalents and restricted cash reported within the Registrants’ Consolidated Balance Sheets that sum to the total of the same amounts in their Consolidated Statements of Cash Flows.
June 30, 2018
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Cash and cash equivalents
$
694

 
$
420

 
$
30

 
$
18

 
$
7

 
$
195

 
$
47

 
$
141

 
$
6

Restricted cash
206

 
130

 
5

 
5

 
1

 
38

 
33

 

 
5

Restricted cash included in other long-term assets
128

 

 
108

 

 

 
20

 

 

 
20

Total cash, cash equivalents and restricted cash
$
1,028

 
$
550

 
$
143

 
$
23

 
$
8

 
$
253

 
$
80

 
$
141

 
$
31

December 31, 2017
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Cash and cash equivalents
$
898

 
$
416

 
$
76

 
$
271

 
$
17

 
$
30

 
$
5

 
$
2

 
$
2

Restricted cash
207

 
138

 
5

 
4

 
1

 
42

 
35

 

 
6

Restricted cash included in other long-term assets
85

 

 
63

 

 

 
23

 

 

 
23

Total cash, cash equivalents and restricted cash
$
1,190

 
$
554

 
$
144

 
$
275

 
$
18

 
$
95

 
$
40

 
$
2

 
$
31

June 30, 2017
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Cash and cash equivalents
$
536

 
$
265

 
$
39

 
$
45

 
$
12

 
$
151

 
$
119

 
$
6

 
$
7

Restricted cash
252

 
166

 
12

 
4

 
6

 
40

 
34

 

 
7

Restricted cash included in other long-term assets
23

 

 

 

 

 
23

 

 

 
23

Total cash, cash equivalents and restricted cash
$
811

 
$
431

 
$
51

 
$
49

 
$
18

 
$
214

 
$
153

 
$
6

 
$
37

December 31, 2016
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Cash and cash equivalents
$
635

 
$
290

 
$
56

 
$
63

 
$
23

 
$
170

 
$
9

 
$
46

 
$
101

Restricted cash
253

 
158

 
2

 
4

 
24

 
43

 
33

 

 
9

Restricted cash included in other long-term assets
26

 

 

 

 
3

 
23

 

 

 
23

Total cash, cash equivalents and restricted cash
$
914

 
$
448

 
$
58

 
$
67

 
$
50

 
$
236

 
$
42

 
$
46

 
$
133

For additional information on restricted cash see Note 1Significant Accounting Policies of the Exelon 2017 Form 10-K. 
Supplemental Balance Sheet Information
The following tables provide additional information about assets and liabilities of the Registrants as of June 30, 2018 and December 31, 2017.
June 30, 2018
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Property, plant and equipment:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated depreciation and amortization
$
22,302

(a) 
$
12,143

(a)  
$
4,491


$
3,482


$
3,530

 
$
671

 
$
3,269


$
1,295


$
1,105

Accounts receivable:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for uncollectible accounts
$
339


$
123


$
82


$
57


$
21

 
$
55

 
$
23


$
14


$
18

December 31, 2017
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Property, plant and equipment:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated depreciation and amortization
$
21,064

(b) 
$
11,428

(b) 
$
4,269


$
3,411


$
3,405

 
$
487

 
$
3,177


$
1,247


$
1,066

Accounts receivable:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for uncollectible accounts
$
322


$
114


$
73


$
56


$
24

 
$
55

 
$
21


$
16


$
18

_________
(a)
Includes accumulated amortization of nuclear fuel in the reactor core of $3,094 million.
(b)
Includes accumulated amortization of nuclear fuel in the reactor core of $3,159 million.
PECO Installment Plan Receivables (Exelon and PECO)
PECO enters into payment agreements with certain delinquent customers, primarily residential, seeking to restore their service, as required by the PAPUC. Customers with past due balances that meet certain income criteria are provided the option to enter into an installment payment plan, some of which have terms greater than one year. The receivable balance for these payment agreement receivables is recorded in accounts receivable for the current portion and other deferred debits and other assets for the noncurrent portion. The net receivable balance for installment plans with terms greater than one year was $11 million as of June 30, 2018 and December 31, 2017. The allowance for uncollectible accounts balance associated with these receivables at June 30, 2018 of $12 million consists of $4 million and $8 million for medium risk and high risk segments, respectively. The allowance for uncollectible accounts balance at December 31, 2017 of $11 million consists of $3 million and $8 million for medium risk and high risk segments, respectively. See Note 1Significant Accounting Policies of the Exelon 2017 Form 10-K for additional information regarding uncollectible accounts reserve methodology and assessment of the credit quality of the installment plan receivables.