Segment Information (All Registrants)

Operating segments for each of the Registrants are determined based on information used by the chief operating decision maker(s) (CODM) in deciding how to evaluate performance and allocate resources at each of the Registrants.

Exelon has twelve reportable segments, which include ComEd, PECO, BGE, PHI's three reportable segments consisting of Pepco, DPL and ACE, and Generation’s six reportable segments consisting of the Mid-Atlantic, Midwest, New England, New York, ERCOT and all other power regions referred to collectively as “Other Power Regions”, which includes activities in the South, West and Canada. ComEd, PECO, BGE, Pepco, DPL and ACE each represent a single reportable segment, and as such, no separate segment information is provided for these Registrants. Exelon, ComEd, PECO, BGE, Pepco, DPL and ACE's CODMs evaluate the performance of and allocate resources to ComEd, PECO, BGE, Pepco, DPL and ACE based on net income and return on equity.

The basis for Generation's reportable segments is the integrated management of its electricity business that is located in different geographic regions, and largely representative of the footprints of ISO/RTO and/or NERC regions, which utilize multiple supply sources to provide electricity through various distribution channels (wholesale and retail). Generation's hedging strategies and risk metrics are also aligned to these same geographic regions. Descriptions of each of Generation’s six reportable segments are as follows:


•	Mid-Atlantic represents operations in the eastern half of PJM, which includes New Jersey, Maryland, Virginia, West Virginia, Delaware, the District of Columbia and parts of Pennsylvania and North Carolina.

•

Midwest represents operations in the western half of PJM, which includes portions of Illinois, Pennsylvania, Indiana, Ohio, Michigan, Kentucky and Tennessee, and the United States footprint of MISO, excluding MISO’s Southern Region, which covers all or most of North Dakota, South Dakota, Nebraska, Minnesota, Iowa, Wisconsin, the remaining parts of Illinois, Indiana, Michigan and Ohio not covered by PJM, and parts of Montana, Missouri and Kentucky.


•	New England represents the operations within ISO-NE covering the states of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.


•	New York represents operations within ISO-NY, which covers the state of New York in its entirety.


•	ERCOT represents operations within Electric Reliability Council of Texas, covering most of the state of Texas.


•	Other Power Regions:

•

South represents operations in the FRCC, MISO’s Southern Region, and the remaining portions of the SERC not included within MISO or PJM, which includes all or most of Florida, Arkansas, Louisiana, Mississippi, Alabama, Georgia, Tennessee, North Carolina, South Carolina and parts of Missouri, Kentucky and Texas. Generation’s South region also includes operations in the SPP, covering Kansas, Oklahoma, most of Nebraska and parts of New Mexico, Texas, Louisiana, Missouri, Mississippi and Arkansas.


•	West represents operations in the WECC, which includes California ISO, and covers the states of California, Oregon, Washington, Arizona, Nevada, Utah, Idaho, Colorado and parts of New Mexico, Wyoming and South Dakota.


•	Canada represents operations across the entire country of Canada and includes AESO, OIESO and the Canadian portion of MISO.

The CODMs for Exelon and Generation evaluate the performance of Generation’s electric business activities and allocate resources based on revenues net of purchased power and fuel expense (RNF). Generation believes that RNF is a useful measurement of operational performance. RNF is not a presentation defined under GAAP and may not be comparable to other companies’ presentations or deemed more useful than the GAAP information provided elsewhere in this report. Generation’s operating revenues include all sales to third parties and affiliated sales to the Utility Registrants. Purchased power costs include all costs associated with the procurement and supply of electricity including capacity, energy and ancillary services. Fuel expense includes the fuel costs for Generation’s owned generation and fuel costs associated with tolling agreements. The results of Generation's other business activities are not regularly reviewed by the CODM and are therefore not classified as operating segments or included in the regional reportable segment amounts. These activities include natural gas, as well as other miscellaneous business activities that are not significant to Generation's overall operating revenues or results of operations. Further, Generation’s unrealized mark-to-market gains and losses on economic hedging activities and its amortization of certain intangible assets and liabilities relating to commodity contracts recorded at fair value from mergers and acquisitions are also excluded from the regional reportable segment amounts. Exelon and Generation do not use a measure of total assets in making decisions regarding allocating resources to or assessing the performance of these reportable segments.

An analysis and reconciliation of the Registrants’ reportable segment information to the respective information in the consolidated financial statements for the three and nine months ended September 30, 2018 and 2017 is as follows:

Three Months Ended September 30, 2018 and 2017



	Generation^(a)		ComEd		PECO		BGE		PHI		Other^(b)			Intersegment Eliminations			Exelon
Operating revenues^(c):
2018
Competitive businesses electric revenues	$	4,741	$	—	—		$	—	$	—	$	—		$	(306	)	$	4,435
Competitive businesses natural gas revenues	397		—		—		—		—		—			—			397
Competitive businesses other revenues	140		—		—		—		—		—			(1		)	139
Rate-regulated electric revenues	—		1,598		700		645		1,334		—			(7		)	4,270
Rate-regulated natural gas revenues	—		—		57		86		24		—			(5		)	162
Shared service and other revenues	—		—		—		—		3		458			(461		)	—
Total operating revenues	$	5,278	$	1,598	$	757	$	731	$	1,361	$	458		$	(780	)	$	9,403
2017
Competitive businesses electric revenues	$	4,041	$	—	$	—	$	—	$	—	$	—		$	(295	)	$	3,746
Competitive businesses natural gas revenues	460		—		—		—		—		—			—			460
Competitive businesses other revenues	249		—		—		—		—		—			—			249
Rate-regulated electric revenues	—		1,571		662		658		1,280		—			(7		)	4,164
Rate-regulated natural gas revenues	—		—		53		80		18		—			(2		)	149
Shared service and other revenues	—		—		—		—		12		446			(458		)	—
Total operating revenues	$	4,750	$	1,571	$	715	$	738	$	1,310	$	446		$	(762	)	$	8,768
Intersegment revenues^(d):
2018	$	308	$	4	$	2	$	6	$	3	$	456		$	(779	)	$	—
2017	294		3		2		3		12		445			(759		)	—
Net income (loss):
2018	$	300	$	193	$	126	$	63	$	187	$	(69	)	$	—		$	800
2017	346		189		112		62		153		3			—			865
Total assets:
September 30, 2018	$	48,207	$	31,119	$	10,621	$	9,541	$	21,957	$	8,418		$	(10,378	)	$	119,485
December 31, 2017	48,457		29,726		10,170		9,104		21,247		8,618			(10,552		)	116,770

__________

(a)

Generation includes the six 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 September 30, 2018 include revenue from sales to PECO of $35 million, sales to BGE of $69 million, sales to Pepco of $46 million, sales to DPL of $26 million and sales to ACE of $10 million in the Mid-Atlantic region, and sales to ComEd of $122 million in the Midwest region, which eliminate upon consolidation. For the three months ended September 30, 2017, intersegment revenues for Generation include revenue from sales to PECO of $31 million, sales to BGE of $98 million, sales to Pepco of $57 million, sales to DPL of $47 million and sales to ACE of $7 million in the Mid-Atlantic region, and sales to ComEd of $54 million in the Midwest region, which eliminate upon consolidation.


(b)	Other primarily includes Exelon’s corporate operations, shared service entities and other financing and investment activities.


(c)	Includes gross utility tax receipts from customers. The offsetting remittance of utility taxes to the governing bodies is recorded in expenses on the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 18 — Supplemental Financial Information for total utility taxes for the three months ended September 30, 2018 and 2017.

(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.

PHI:



	Pepco		DPL		ACE		Other^(b)			Intersegment Eliminations			PHI
Operating revenues^(a):
Three Months Ended September 30, 2018
Rate-regulated electric revenues	$	628	$	304	$	406	$	—		$	(4	)	$	1,334
Rate-regulated natural gas revenues	—		24		—		—			—			24
Shared service and other revenues	—		—		—		103			(100		)	3
Total operating revenues	$	628	$	328	$	406	$	103		$	(104	)	$	1,361
Three Months Ended September 30, 2017
Rate-regulated electric revenues	$	604	$	309	$	370	$	—		$	(3	)	$	1,280
Rate-regulated natural gas revenues	—		18		—		—			—			18
Shared service and other revenues	—		—		—		12			—			12
Total operating revenues	$	604	$	327	$	370	$	12		$	(3	)	$	1,310
Intersegment revenues:
Three Months Ended September 30, 2018	$	2	$	2	$	1	$	103		$	(105	)	$	3
Three Months Ended September 30, 2017	1		2		—		13			(4		)	12
Net income (loss):
Three Months Ended September 30, 2018	$	89	$	33	$	61	$	1		$	3		$	187
Three Months Ended September 30, 2017	87		31		41		(18		)	12			153
Total assets:
September 30, 2018	$	8,199	$	4,601	$	3,694	$	10,763		$	(5,300	)	$	21,957
December 31, 2017	7,832		4,357		3,445		10,600			(4,987		)	21,247

__________


(a)	Includes gross utility tax receipts from customers. The offsetting remittance of utility taxes to the governing bodies is recorded in expenses on the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 18 — Supplemental Financial Information for total utility taxes for the three months ended September 30, 2018 and 2017.


(b)	Other primarily includes PHI’s corporate operations, shared service entities and other financing and investment activities.

The following tables disaggregate the Registrants' revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors for three months ended September 30, 2018 and 2017. For Generation, the disaggregation of revenues reflects Generation’s two primary products of power sales and natural gas sales, with further disaggregation of power sales provided by geographic region. For the Utility Registrants, the disaggregation of revenues reflects the two primary utility services of rate-regulated electric sales and rate-regulated natural gas sales (where applicable), with further disaggregation of these tariff sales provided by major customer groups. Exelon’s disaggregated revenues are consistent with Generation and the Utility Registrants, but exclude any intercompany revenues.

Competitive Business Revenues (Generation):



	Three Months Ended September 30, 2018
	Revenues from external parties^(a)							Intersegment revenues			Total Revenues
	Contracts with customers		Other^(b)			Total		Intersegment revenues			Total Revenues
Mid-Atlantic	$	1,397	$	52		$	1,449	$	7		$	1,456
Midwest	1,095		26			1,121		(4		)	1,117
New England	666		33			699		—			699
New York	475		(6		)	469		—			469
ERCOT	156		289			445		(1		)	444
Other Power Regions	293		265			558		(45		)	513
Total Competitive Businesses Electric Revenues	4,082		659			4,741		(43		)	4,698
Competitive Businesses Natural Gas Revenues	200		197			397		43			440
Competitive Businesses Other Revenues^(c)	130		10			140		—			140
Total Generation Consolidated Operating Revenues	$	4,412	$	866		$	5,278	$	—		$	5,278



	Three Months Ended September 30, 2017
	Revenues from external customers^(a)							Intersegment revenues			Total Revenues
	Contracts with customers		Other^(b)			Total		Intersegment revenues			Total Revenues
Mid-Atlantic	$	1,397	$	24		$	1,421	$	11		$	1,432
Midwest	982		67			1,049		(11		)	1,038
New England	504		(22		)	482		(1		)	481
New York	454		(21		)	433		(6		)	427
ERCOT	164		144			308		6			314
Other Power Regions	167		181			348		(13		)	335
Total Competitive Businesses Electric Revenues	3,668		373			4,041		(14		)	4,027
Competitive Businesses Natural Gas Revenues	226		234			460		20			480
Competitive Businesses Other Revenues^(c)	207		42			249		(6		)	243
Total Generation Consolidated Operating Revenues	$	4,101	$	649		$	4,750	$	—		$	4,750

__________


(a)	Includes all wholesale and retail electric sales to third parties and affiliated sales to the Utility Registrants.


(b)	Includes revenues from derivatives and leases.

(c)

Other represents activities not allocated to a region. See text above for a description of included activities. Includes a $13 million decrease to revenues for the amortization of intangible assets and liabilities related to commodity contracts recorded at fair value for the three months ended September 30, 2017, unrealized mark-to-market gains of $6 million and $52 million for the three months ended September 30, 2018 and 2017, respectively, and elimination of intersegment revenues.

Revenues net of purchased power and fuel expense (Generation):



	Three Months Ended September 30, 2018							Three Months Ended September 30, 2017
	RNF from external customers^(a)		Intersegment RNF			Total RNF		RNF from external customers^(a)		Intersegment RNF			Total RNF
Mid-Atlantic	$	746	$	17		$	763	$	817	$	38		$	855
Midwest	763		5			768		697		—			697
New England	83		(2		)	81		151		(6		)	145
New York	290		2			292		295		—			295
ERCOT	161		(63		)	98		229		(111		)	118
Other Power Regions	143		(44		)	99		118		(50		)	68
Total Revenues net of purchased power and fuel for Reportable Segments	2,186		(85		)	2,101		2,307		(129		)	2,178
Other^(b)	112		85			197		112		129			241
Total Generation Revenues net of purchased power and fuel expense	$	2,298	$	—		$	2,298	$	2,419	$	—		$	2,419

__________


(a)	Includes purchases and sales from/to third parties and affiliated sales to the Utility Registrants.

(b)

Other represents activities not allocated to a region. See text above for a description of included activities. Includes a $19 million decrease to RNF for the amortization of intangible assets and liabilities related to commodity contracts for the three months ended September 30, 2017, unrealized mark-to-market gains of $71 million and $73 million for the three months ended September 30, 2018 and 2017, respectively, accelerated nuclear fuel amortization associated with announced early plant retirements as discussed in Note 8 - Early Plant Retirements of $18 million and $6 million decrease to revenue net of purchased power and fuel expense for the three months ended September 30, 2018, and 2017, respectively, and the elimination of intersegment revenue net of purchased power and fuel expense.

Electric and Gas Revenue by Customer Class (the Utility Registrants):



	Three Months Ended September 30, 2018
Revenues from contracts with customers	ComEd			PECO		BGE			PHI			Pepco			DPL		ACE
Rate-regulated electric revenues
Residential	$	861		$	458	$	366		$	726		$	306		$	180	$	240
Small commercial & industrial	391			108		68			140			39			48		53
Large commercial & industrial	131			64		117			303			230			25		48
Public authorities & electric railroads	11			7		7			14			8			3		3
Other^(a)	212			59		91			156			47			47		63
Total rate-regulated electric revenues^(b)	1,606			696		649			1,339			630			303		407
Rate-regulated natural gas revenues
Residential	—			36		46			8			—			8		—
Small commercial & industrial	—			15		8			5			—			5		—
Large commercial & industrial	—			—		17			2			—			2		—
Transportation	—			5		—			3			—			3		—
Other^(c)	—			1		12			6			—			6		—
Total rate-regulated natural gas revenues^(d)	—			57		83			24			—			24		—
Total rate-regulated revenues from contracts with customers	1,606			753		732			1,363			630			327		407

Other revenues
Revenues from alternative revenue programs	(15		)	1		(6		)	(5		)	(4		)	—		(1		)
Other rate-regulated electric revenues^(e)	7			3		4			3			2			1		—
Other rate-regulated natural gas revenues^(e)	—			—		1			—			—			—		—
Total other revenues	(8		)	4		(1		)	(2		)	(2		)	1		(1		)
Total rate-regulated revenues for reportable segments	$	1,598		$	757	$	731		$	1,361		$	628		$	328	$	406



	Three Months Ended September 30, 2017
Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL			ACE
Rate-regulated electric revenues
Residential	$	816	$	434	$	352	$	687	$	291	$	185		$	211
Small commercial & industrial	366		106		65		140		37		50			53
Large commercial & industrial	119		59		114		288		211		28			49
Public authorities & electric railroads	11		7		8		14		8		3			3
Other^(a)	235		53		85		147		52		43			54
Total rate-regulated electric revenues^(b)	1,547		659		624		1,276		599		309			370
Rate-regulated natural gas revenues
Residential	—		33		44		8		—		8			—
Small commercial & industrial	—		14		8		3		—		3			—
Large commercial & industrial	—		—		19		1		—		1			—
Transportation	—		5		—		3		—		3			—
Other^(c)	—		1		3		3		—		3			—
Total rate-regulated natural gas revenues^(d)	—		53		74		18		—		18			—
Total rate-regulated revenues from contracts with customers	1,547		712		698		1,294		599		327			370

Other revenues
Revenues from alternative revenue programs	16		—		36		2		3		(1		)	—
Other rate-regulated electric revenues^(e)	8		3		3		3		2		1			—
Other rate-regulated natural gas revenues^(e)	—		—		1		—		—		—			—
Other revenues^(f)	—		—		—		11		—		—			—
Total other revenues	24		3		40		16		5		—			—
Total rate-regulated revenues for reportable segments	$	1,571	$	715	$	738	$	1,310	$	604	$	327		$	370

__________


(a)	Includes revenues from transmission revenue from PJM, wholesale electric revenue and mutual assistance revenue.

(b)

Includes operating revenues from affiliates of $4 million, $2 million, $1 million, $3 million, $2 million, $2 million and $1 million at ComEd, PECO, BGE, PHI, Pepco, DPL and ACE, respectively, for the three months ended September 30, 2018 and $3 million, $1 million, $1 million, $1 million $1 million, $2 million and less than $1 million at ComEd, PECO, BGE, PHI, Pepco, DPL and ACE, respectively, for the three months ended September 30, 2017.


(c)	Includes revenues from off-system natural gas sales.


(d)	Includes operating revenues from affiliates of less than $1 million and $5 million at PECO and BGE, respectively, for the three months ended September 30, 2018 and less than $1 million and $2 million at PECO and BGE, respectively, for the three months ended September 30, 2017.


(e)	Includes late payment charge revenues.


(f)	Includes operating revenues from affiliates of $11 million at PHI for the three months ended September 30, 2017.

Nine Months Ended September 30, 2018 and 2017



	Generation^(a)		ComEd		PECO		BGE		PHI		Other^(b)			Intersegment Eliminations			Exelon
Operating revenues^(c):
2018
Competitive businesses electric revenues	$	13,190	$	—	$	—	$	—	$	—	$	—		$	(969	)	$	12,221
Competitive businesses natural gas revenues	1,839		—		—		—		—		—			(8		)	1,831
Competitive businesses other revenues	339		—		—		—		—		—			(4		)	335
Rate-regulated electric revenues	—		4,508		1,893		1,850		3,549		—			(34		)	11,766
Rate-regulated natural gas revenues	—		—		382		519		129		—			(13		)	1,017
Shared service and other revenues	—		—		—		—		10		1,398			(1,408		)	—
Total operating revenues	$	15,368	$	4,508	$	2,275	$	2,369	$	3,688	$	1,398		$	(2,436	)	$	27,170
2017
Competitive businesses electric revenues	$	11,514	$	—	$	—	$	—	$	—	$	—		$	(888	)	$	10,626
Competitive businesses natural gas revenues	1,807		—		—		—		—		—			—			1,807
Competitive businesses other revenues	522		—		—		—		—		—			—			522
Rate-regulated electric revenues	—		4,227		1,802		1,895		3,417		—			(23		)	11,318
Rate-regulated natural gas revenues	—		—		339		468		105		—			(6		)	906
Shared service and other revenues	—		—		—		—		35		1,316			(1,350		)	1
Total operating revenues	$	13,843	$	4,227	$	2,141	$	2,363	$	3,557	$	1,316		$	(2,267	)	$	25,180
Intersegment revenues^(d):
2018	$	981	$	23	$	5	$	18	$	11	$	1,392		$	(2,430	)	$	—
2017	888		12		5		12		35		1,312			(2,262		)	2
Net income (loss):
2018	$	667	$	523	$	336	$	242	$	336	$	(125	)	$	—		$	1,979
2017	508		447		327		231		359		58			(2		)	1,928

__________

(a)

Generation includes the six reportable segments shown below: Mid-Atlantic, Midwest, New England, New York, ERCOT and Other Power Regions. Intersegment revenues for Generation for the nine months ended September 30, 2018 include revenue from sales to PECO of $97 million, sales to BGE of $198 million, sales to Pepco of $143 million, sales to DPL of $103 million and sales to ACE of $21 million in the Mid-Atlantic region, and sales to ComEd of $419 million in the Midwest region, which eliminate upon consolidation. For the nine months ended September 30, 2017, intersegment revenues for Generation include revenue from sales to PECO of $111 million, sales to BGE of $330 million, sales to Pepco of $209 million, sales to DPL of $138 million and sales to ACE of $23 million in the Mid-Atlantic region, and sales to ComEd of $77 million in the Midwest region, which eliminate upon consolidation.


(b)	Other primarily includes Exelon’s corporate operations, shared service entities and other financing and investment activities.


(c)	Includes gross utility tax receipts from customers. The offsetting remittance of utility taxes to the governing bodies is recorded in expenses on the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 18 — Supplemental Financial Information for total utility taxes for the nine months ended September 30, 2018 and 2017.

(d)

PHI:



	Pepco		DPL		ACE		Other^(b)			Intersegment Eliminations			PHI
Operating revenues^(a):
Nine Months Ended September 30, 2018
Rate-regulated electric revenues	$	1,708	$	872	$	981	$	—		$	(12	)	$	3,549
Rate-regulated natural gas revenues	—		129		—		—			—			129
Shared service and other revenues	—		—		—		326			(316		)	10
Total operating revenues	$	1,708	$	1,001	$	981	$	326		$	(328	)	$	3,688
Nine Months Ended September 30, 2017
Rate-regulated electric revenues	$	1,649	$	866	$	915	$	—		$	(13	)	$	3,417
Rate-regulated natural gas revenues	—		105		—		—			—			105
Shared service and other revenues	—		—		—		37			(2		)	35
Total operating revenues	$	1,649	$	971	$	915	$	37		$	(15	)	$	3,557
Intersegment revenues:
Nine Months Ended September 30, 2018	$	5	$	6	$	2	$	325		$	(327	)	$	11
Nine Months Ended September 30, 2017	4		6		2		37			(14		)	35
Net income (loss):
Nine Months Ended September 30, 2018	$	174	$	90	$	76	$	(15	)	$	11		$	336
Nine Months Ended September 30, 2017	188		107		77		(48		)	35			359

__________


(a)	Includes gross utility tax receipts from customers. The offsetting remittance of utility taxes to the governing bodies is recorded in expenses on the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 18 — Supplemental Financial Information for total utility taxes for the nine months ended September 30, 2018 and 2017.


(b)	Other primarily includes PHI’s corporate operations, shared service entities and other financing and investment activities.

The following tables disaggregate the Registrants' revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors for nine months ended September 30, 2018 and 2017. For Generation, the disaggregation of revenues reflects Generation’s two primary products of power sales and natural gas sales, with further disaggregation of power sales provided by geographic region. For the Utility Registrants, the disaggregation of revenues reflects the two primary utility services of rate-regulated electric sales and rate-regulated natural gas sales (where applicable), with further disaggregation of these tariff sales provided by major customer groups. Exelon’s disaggregated revenues are consistent with Generation and the Utility Registrants but exclude any intercompany revenues.

Competitive Business Revenues (Generation):



	Nine Months Ended September 30, 2018
	Revenues from external parties^(a)							Intersegment Revenues			Total Revenues
	Contracts with customers		Other^(b)			Total		Intersegment Revenues			Total Revenues
Mid-Atlantic	$	3,971	$	191		$	4,162	$	17		$	4,179
Midwest	3,432		169			3,601		(8		)	3,593
New England	1,943		87			2,030		(4		)	2,026
New York	1,305		(37		)	1,268		1			1,269
ERCOT	470		459			929		1			930
Other Power Regions	713		487			1,200		(112		)	1,088
Total Competitive Businesses Electric Revenues	11,834		1,356			13,190		(105		)	13,085
Competitive Businesses Natural Gas Revenues	1,016		823			1,839		105			1,944
Competitive Businesses Other Revenues^(c)	385		(46		)	339		—			339
Total Generation Consolidated Operating Revenues	$	13,235	$	2,133		$	15,368	$	—		$	15,368



	Nine Months Ended September 30, 2017
	Revenues from external customers^(a)							Intersegment revenues			Total Revenues
	Contracts with customers		Other^(b)			Total		Intersegment revenues			Total Revenues
Mid-Atlantic	$	4,260	$	(53	)	$	4,207	$	15		$	4,222
Midwest	2,948		210			3,158		(17		)	3,141
New England	1,555		(86		)	1,469		(8		)	1,461
New York	1,161		(37		)	1,124		(14		)	1,110
ERCOT	520		229			749		4			753
Other Power Regions	439		368			807		(28		)	779
Total Competitive Businesses Electric Revenues	10,883		631			11,514		(48		)	11,466
Competitive Businesses Natural Gas Revenues	1,237		570			1,807		52			1,859
Competitive Businesses Other Revenues^(c)	588		(66		)	522		(4		)	518
Total Generation Consolidated Operating Revenues	$	12,708	$	1,135		$	13,843	$	—		$	13,843

__________


(a)	Includes all wholesale and retail electric sales to third parties and affiliated sales to the Utility Registrants.


(b)	Includes revenues from derivatives and leases.

(c)

Other represents activities not allocated to a region. See text above for a description of included activities. Includes a $30 million decrease to revenues for the amortization of intangible assets and liabilities related to commodity contracts recorded at fair value for the nine months ended September 30, 2017, unrealized mark-to-market losses of $96 million and $47 million for the nine months ended September 30, 2018 and 2017, respectively, and elimination of intersegment revenues.

Revenues net of purchased power and fuel expense (Generation):



	Nine Months Ended September 30, 2018							Nine Months Ended September 30, 2017
	RNF from external customers^(a)		Intersegment RNF			Total RNF		RNF from external customers^(a)		Intersegment RNF			Total RNF
Mid-Atlantic	$	2,303	$	45		$	2,348	$	2,330	$	81		$	2,411
Midwest	2,381		19			2,400		2,129		11			2,140
New England	310		(12		)	298		423		(20		)	403
New York	832		9			841		708		(1		)	707
ERCOT	396		(180		)	216		446		(188		)	258
Other Power Regions	430		(121		)	309		359		(139		)	220
Total Revenues net of purchased power and fuel expense for Reportable Segments	6,652		(240		)	6,412		6,395		(256		)	6,139
Other^(b)	164		240			404		162		256			418
Total Generation Revenues net of purchased power and fuel expense	$	6,816	$	—		$	6,816	$	6,557	$	—		$	6,557

__________


(a)	Includes purchases and sales from/to third parties and affiliated sales to the Utility Registrants.

(b)

Other represents activities not allocated to a region. See text above for a description of included activities. Includes a $41 million decrease to RNF for the amortization of intangible assets and liabilities related to commodity contracts for the nine months ended September 30, 2017, unrealized mark-to-market losses of $104 million and $161 million for the nine months ended September 30, 2018 and 2017, respectively, accelerated nuclear fuel amortization associated with announced early plant retirements as discussed in Note 8 - Early Plant Retirements of $53 million and $8 million decrease to revenue net of purchased power and fuel expense for the nine months ended September 30, 2018 and 2017, respectively, and the elimination of intersegment revenue net of purchased power and fuel expense.

Electric and Gas Revenue by Customer Class (the Utility Registrants):



	Nine Months Ended September 30, 2018
Revenues from contracts with customers	ComEd			PECO		BGE			PHI		Pepco		DPL		ACE
Rate-regulated electric revenues
Residential	$	2,277		$	1,199	$	1,054		$	1,839	$	792	$	513	$	534
Small commercial & industrial	1,132			306		196			370		104		138		128
Large commercial & industrial	411			174		325			845		632		74		139
Public authorities & electric railroads	36			21		21			44		24		10		10
Other^(a)	656			181		246			446		145		129		174
Total rate-regulated electric revenues^(b)	4,512			1,881		1,842			3,544		1,697		864		985
Rate-regulated natural gas revenues
Residential	—			259		345			68		—		68		—
Small commercial & industrial	—			102		55			31		—		31		—
Large commercial & industrial	—			1		88			7		—		7		—
Transportation	—			16		—			12		—		12		—
Other^(c)	—			4		49			11		—		11		—
Total rate-regulated natural gas revenues^(d)	—			382		537			129		—		129		—
Total rate-regulated revenues from contracts with customers	4,512			2,263		2,379			3,673		1,697		993		985

Other revenues
Revenues from alternative revenue programs	(27		)	2		(23		)	7		6		5		(4		)
Other rate-regulated electric revenues^(e)	23			10		10			8		5		3		—
Other rate-regulated natural gas revenues^(e)	—			—		3			—		—		—		—
Total other revenues	(4		)	12		(10		)	15		11		8		(4		)
Total rate-regulated revenues for reportable segments	$	4,508		$	2,275	$	2,369		$	3,688	$	1,708	$	1,001	$	981



	Nine Months Ended September 30, 2017
Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Rate-regulated electric revenues
Residential	$	2,071	$	1,147	$	1,038	$	1,740	$	751	$	505	$	484
Small commercial & industrial	1,035		303		193		373		105		139		129
Large commercial & industrial	346		168		329		814		593		78		143
Public authorities & electric railroads	33		23		23		45		24		11		10
Other^(a)	671		151		222		398		148		121		140
Total rate-regulated electric revenues^(b)	4,156		1,792		1,805		3,370		1,621		854		906
Rate-regulated natural gas revenues
Residential	—		225		289		57		—		57		—
Small commercial & industrial	—		90		51		25		—		25		—
Large commercial & industrial	—		—		82		5		—		5		—
Transportation	—		16		—		11		—		11		—
Other^(c)	—		8		20		7		—		7		—
Total rate-regulated natural gas revenues^(d)	—		339		442		105		—		105		—
Total rate-regulated revenues from contracts with customers	4,156		2,131		2,247		3,475		1,621		959		906

Other revenues
Revenues from alternative revenue programs	48		—		102		41		23		9		9
Other rate-regulated electric revenues^(e)	23		10		11		8		5		3		—
Other rate-regulated natural gas revenues^(e)	—		—		3		—		—		—		—
Other revenues^(f)	—		—		—		33		—		—		—
Total other revenues	71		10		116		82		28		12		9
Total rate-regulated revenues for reportable segments	$	4,227	$	2,141	$	2,363	$	3,557	$	1,649	$	971	$	915

__________


(a)	Includes revenues from transmission revenue from PJM, wholesale electric revenue and mutual assistance revenue.

(b)

Includes operating revenues from affiliates of $23 million, $5 million, $5 million, $11 million, $5 million, $6 million and $2 million at ComEd, PECO, BGE, PHI, Pepco, DPL and ACE, respectively, for the nine months ended September 30, 2018 and $12 million, $4 million, $5 million, $2 million, $4 million, $6 million and $2 million at ComEd, PECO, BGE, PHI, Pepco, DPL and ACE, respectively, for the nine months ended September 30, 2017.


(c)	Includes revenues from off-system natural gas sales.


(d)	Includes operating revenues from affiliates of less than $1 million and $13 million at PECO and BGE, respectively, for the nine months ended September 30, 2018 and less than $1 million and $7 million at PECO and BGE, respectively, for the nine months ended September 30, 2017.


(e)	Includes late payment charge revenues.


(f)	Includes operating revenues from affiliates of $33 million at PHI for the nine months ended September 30, 2017.