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Retirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2018
Retirement Benefits [Abstract]  
Schedule Of Pension And Other Postretirement Participation
The table below shows the pension and other postretirement benefit plans in which employees of each operating company participated at December 31, 2018:
 
 
Operating Company(e)
Name of Plan:
 
Generation
 
ComEd
 
PECO
 
BGE
 
BSC
 
PHI
 
Pepco
 
DPL
 
ACE
Qualified Pension Plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exelon Corporation Retirement Program(a)
 
X
 
X
 
X
 
X
 
X
 
X
 
X
 
 
 
 
Exelon Corporation Cash Balance Pension Plan(a)
 
X
 
X
 
X
 
X
 
X
 
X
 
X
 
X
 
X
Exelon Corporation Pension Plan for Bargaining Unit Employees(a)
 
X
  
X
  
 
 
 
 
X
 
 
 
 
 
 
 
 
Exelon New England Union Employees Pension Plan(a)
 
X
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exelon Employee Pension Plan for Clinton, TMI and Oyster Creek(a)
 
X
  
X
  
X
 
 
 
X
 
 
 
 
 
 
 
 
Pension Plan of Constellation Energy Group, Inc.(b)
 
X
  
X
 
X
 
X
  
X
 
X
 
 
 
X
 
 
Pension Plan of Constellation Energy Nuclear Group, LLC(c)
 
X
 
X
 
 
 
X
 
X
 
X
 
 
 
 
 
 
Nine Mile Point Pension Plan(c)
 
X
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
Constellation Mystic Power, LLC Union Employees Pension Plan Including Plan A and Plan B(b)
 
X
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pepco Holdings LLC Retirement Plan(d)
 
X
 
X
 
X
 
X
 
X
 
X
 
X
 
X
 
X
Non-Qualified Pension Plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exelon Corporation Supplemental Pension Benefit Plan and 2000 Excess Benefit Plan(a)
 
X
  
X
  
X
  
 
 
X
 
X
 
 
 
 
 
 
Exelon Corporation Supplemental Management Retirement Plan(a)
 
X
  
X
  
X
  
X
 
X
 
X
 
 
 
 
 
 
Constellation Energy Group, Inc. Senior Executive Supplemental Plan(b)
 
X
  
 
 
 
 
X
  
X
 
 
 
 
 
 
 
 
Constellation Energy Group, Inc. Supplemental Pension Plan(b)
 
X
  
 
 
 
 
X
  
X
 
 
 
 
 
 
 
 
Constellation Energy Group, Inc. Benefits Restoration Plan(b)
 
X
  
X
 
 
 
X
  
X
 
X
 
 
 
 
 
 
Constellation Energy Nuclear Plan, LLC Executive Retirement Plan(c) 
 
X
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
Constellation Energy Nuclear Plan, LLC Benefits Restoration Plan(c)
 
X
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
Baltimore Gas & Electric Company Executive Benefit Plan(b)
 
X
  
 
 
 
 
X
  
X
 
 
 
 
 
 
 
 
Baltimore Gas & Electric Company Manager Benefit Plan(b)
 
X
  
X
 
 
 
X
  
X
 
 
 
 
 
 
 
 
Pepco Holdings LLC 2011 Supplemental Executive Retirement Plan(d)
 
 
 
 
 
 
 
 
 
X
 
X
 
X
 
X
 
X
Conectiv Supplemental Executive Retirement Plan (d)
 
X
 
 
 
 
 
 
 
X
 
X
 
 
 
X
 
X
Pepco Holdings LLC Combined Executive Retirement Plan (d)
 
 
 
 
 
 
 
 
 
X
 
X
 
X
 
 
 
 
Atlantic City Electric Director Retirement Plan (d)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
X
 
 
Operating Company(e)
Name of Plan:
 
Generation
 
ComEd
 
PECO
 
BGE
 
BSC
 
PHI
 
Pepco
 
DPL
 
ACE
Other Postretirement Benefit Plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PECO Energy Company Retiree Medical Plan(a)
 
X
  
X
 
X
  
X
 
X
 
X
 
X
 
X
 
X
Exelon Corporation Health Care Program(a)
 
X
  
X
  
X
 
X
 
X
 
X
 
X
 
 
 
X
Exelon Corporation Employees’ Life Insurance Plan(a)
 
X
  
X
  
X
  
X
 
X
 
 
 
 
 
 
 
 
Exelon Corporation Health Reimbursement Arrangement Plan(a)
 
X
  
X
  
X
  
X
 
X
 
 
 
 
 
 
 
 
Constellation Energy Group, Inc. Retiree Medical Plan(b)
 
X
  
X
 
X
 
X
  
X
 
 
 
 
 
 
 
 
Constellation Energy Group, Inc. Retiree Dental Plan(b)
 
X
  
 
 
 
 
X
  
X
 
 
 
 
 
 
 
 
Constellation Energy Group, Inc. Employee Life Insurance Plan and Family Life Insurance Plan(b)
 
X
  
X
 
X
 
X
  
X
 
 
 
 
 
 
 
 
Constellation Mystic Power, LLC
Post-Employment Medical Account Savings Plan(b)
 
X
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exelon New England Union Post-Employment Medical Savings Account Plan(a)
 
X
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Retiree Medical Plan of Constellation Energy Nuclear Group LLC(c)
 
X
 
 
 
 
 
X
 
X
 
 
 
 
 
 
 
 
Retiree Dental Plan of Constellation Energy Nuclear Group LLC(c)
 
X
 
 
 
 
 
X
 
X
 
 
 
 
 
 
 
 
Nine Mile Point Nuclear Station, LLC Medical Care and Prescription Drug Plan for Retired Employees(c)
 
X
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
Pepco Holdings LLC Welfare Plan for Retirees(d)
 
X
 
X
 
X
 
X
 
X
 
X
 
X
 
X
 
X
______________________
(a)
These plans are collectively referred to as the legacy Exelon plans.
(b)
These plans are collectively referred to as the legacy Constellation Energy Group (CEG) Plans.
(c)
These plans are collectively referred to as the legacy CENG plans.
(d)
These plans are collectively referred to as the legacy PHI plans.
(e)
Employees generally remain in their legacy benefit plans when transferring between operating companies.
Defined Benefit Plan Change In Benefit Obligation RollForward
The following tables provide a rollforward of the changes in the benefit obligations and plan assets for the most recent two years for all plans combined:
 
Pension Benefits
 
Other
Postretirement Benefits
Exelon
2018
 
2017
 
2018
 
2017
Change in benefit obligation:
 
 
 
 
 
 
 
Net benefit obligation at beginning of year
$
22,337

 
$
21,060

 
$
4,856

 
$
4,457

Service cost
405

 
387


112

 
106

Interest cost
802

 
842


175

 
182

Plan participants’ contributions
—

 
—

 
45

 
53

Actuarial (gain) loss(a)
(1,561
)
 
1,182

 
(540
)
 
350

Plan amendments
(4
)
 
9

 
—

 
—

Acquisitions(b)
—

 
16

 
—

 
17

Settlements
(48
)
 
(34
)

(4
)
 
—

Gross benefits paid
(1,239
)
 
(1,125
)

(275
)
 
(309
)
Net benefit obligation at end of year
$
20,692

 
$
22,337

 
$
4,369

 
$
4,856

 
Pension Benefits
 
Other
Postretirement Benefits
Exelon
2018
 
2017
 
2018
 
2017
Change in plan assets:
 
 
 
 
 
 
 
Fair value of net plan assets at beginning of year
$
18,573

 
$
16,791

 
$
2,732

 
$
2,578

Actual return on plan assets
(945
)
 
2,600

 
(136
)
 
346

Employer contributions
337


341


46


64

Plan participants’ contributions
—

 
—

 
45

 
53

Gross benefits paid
(1,239
)

(1,125
)

(275
)

(309
)
Settlements
(48
)

(34
)

(4
)

—

Fair value of net plan assets at end of year
$
16,678

 
$
18,573

 
$
2,408

 
$
2,732

__________
(a)
The pension actuarial gain in 2018 primarily reflects an increase in the discount rate. The OPEB actuarial gain in 2018 primarily reflects an increase in the discount rate and favorable health care claims experience. The pension and OPEB actuarial losses in 2017 primarily reflect a decrease in the discount rate.
(b)
Exelon recorded pension and OPEB obligations associated with its acquisition of Fitzpatrick on March 31, 2017.
Schedule of Amounts Recognized in Balance Sheet
Exelon presents its benefit obligations and plan assets net on its balance sheet within the following line items:
 
Pension Benefits
 
Other
Postretirement Benefits
Exelon
2018
 
2017
 
2018
 
2017
Other current liabilities
$
26

 
$
28

 
$
33

 
$
31

Pension obligations
3,988


3,736


—


—

Non-pension postretirement benefit obligations
—

 
—

 
1,928


2,093

Unfunded status (net benefit obligation less plan assets)
$
4,014


$
3,764


$
1,961


$
2,124
Schedule of Defined Benefit Plans Disclosures
The following tables present the components of Exelon’s net periodic benefit costs, prior to capitalization, for the years ended December 31, 2018, 2017 and 2016 and PHI's net periodic benefit costs, prior to capitalization, for the predecessor period of January 1, 2016 to March 23, 2016.
 
Pension Benefits
 
Other
Postretirement Benefits
Exelon
2018
 
2017(a)
 
2016(b)
 
2018
 
2017(a)
 
2016(b)
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
405


$
387


$
354


$
112


$
106


$
107

Interest cost
802


842


830


175


182


185

Expected return on assets
(1,252
)
 
(1,196
)
 
(1,141
)
 
(173
)
 
(162
)
 
(162
)
Amortization of:
 
 
 
 
 
 
 
 
 
 
 
Prior service cost (credit)
2

 
1

 
14

 
(186
)
 
(188
)
 
(185
)
Actuarial loss
629

 
607

 
554

 
66

 
61

 
63

Settlement and other charges(c)
3

 
3

 
2

 
1

 
—

 
—

Net periodic benefit cost
$
589

 
$
644

 
$
613

 
$
(5
)
 
$
(1
)
 
$
8


__________ 
(a)
FitzPatrick net benefit costs are included for the period after acquisition.
(b)
PHI net periodic benefit costs for the period prior to the merger are not included in the table above.
(c)
2016 amount includes an additional termination benefit for PHI.
 
Predecessor
 
Pension Benefits
 
Other
Postretirement Benefits
PHI
January 1, 2016 to March 23, 2016
 
January 1, 2016 to March 23, 2016
Components of net periodic benefit cost:
 
 
 
Service cost
$
12

 
$
1

Interest cost
26

 
6

Expected return on assets
(30
)
 
(5
)
Amortization of:
 
 
 
Prior service cost (credit)
—

 
(3
)
Actuarial loss
14

 
2

Net periodic benefit cost
$
22

 
$
1

The following table provides the components of gross accumulated other comprehensive loss and regulatory assets (liabilities) that have not been recognized as components of periodic benefit cost at December 31, 2018 and 2017, respectively, for all plans combined:
 
Exelon
 
 
Exelon
 
Pension Benefits
 
 
Other
Postretirement Benefits
 
2018
 
2017
 
 
2018
 
2017
Prior service (credit) cost
$
(29
)

$
(24
)
 
 
$
(337
)
 
$
(522
)
Actuarial loss
7,558

 
7,556

 
 
531

 
829

Total
$
7,529

 
$
7,532

 
 
$
194

 
$
307

 
 
 
 
 
 
 
 
 
Total included in AOCI
$
3,899

 
$
3,896

 
 
$
70

 
$
125

Total included in regulatory assets (liabilities)
$
3,630

 
$
3,636

 
 
$
124

 
$
182
Changes In Plan Assets And Benefit Obligations Recognized In OCI And Regulatory Assets
The following tables provide the components of AOCI and regulatory assets (liabilities) for the years ended December 31, 2018, 2017 and 2016 for all plans combined and the components of PHI's predecessor AOCI and regulatory assets (liabilities) for the period January 1, 2016 to March 23, 2016.
 
Pension Benefits
 
Other
Postretirement Benefits
Exelon
2018
 
2017
 
2016(a)
 
2018
 
2017
 
2016(a)
Changes in plan assets and benefit obligations recognized in AOCI and regulatory assets (liabilities):
 
 
 
 
 
 
 
 
 
 
 
Current year actuarial (gain) loss
$
635

 
$
(222
)
 
$
644

 
$
(232
)
 
$
166

 
$
(101
)
Amortization of actuarial loss
(629
)
 
(607
)
 
(554
)
 
(66
)
 
(61
)
 
(63
)
Current year prior service cost (credit)
(4
)
 
9

 
(60
)
 
—

 
—

 
—

Amortization of prior service (cost) credit
(2
)
 
(1
)
 
(14
)
 
186

 
188

 
185

Settlements
(3
)
 
(3
)
 
—

 
—

 
—

 
—

Acquisitions
—

 
—

 
994

 
—

 
—

 
94

Total recognized in AOCI and regulatory assets (liabilities)
$
(3
)

$
(824
)
 
$
1,010

 
$
(112
)

$
293

 
$
115

 
 
 
 
 
 
 
 
 
 
 
 
Total recognized in AOCI
$
3

 
$
(401
)
 
$
51

 
$
(55
)
 
$
168

 
$
20

Total recognized in regulatory assets (liabilities)
$
(6
)
 
$
(423
)
 
$
959

 
$
(57
)
 
$
125

 
$
95

 
Predecessor
 
Pension Benefits
 
Other
Postretirement Benefits
PHI
January 1, 2016 to March 23, 2016
 
January 1, 2016 to March 23, 2016
Changes in plan assets and benefit
obligations recognized in AOCI and regulatory assets (liabilities):
 
 
 
Current year actuarial loss (gain)
$
—

 
$
—

Amortization of actuarial loss
(14
)
 
(2
)
Amortization of prior service (cost) credit
—

 
3

Total recognized in AOCI and regulatory assets (liabilities) 
$
(14
)
 
$
1

 
 
 
 
Total recognized in AOCI
$
(1
)
 
$
—

Total recognized in regulatory assets (liabilities)
$
(13
)
 
$
1
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]


Defined Benefit Plan Weighted Average Assumptions Used In Calculating Benefit Obligation [Table Text Block]
The following assumptions were used to determine the benefit obligations for the plans at December 31, 2018, 2017 and 2016. Assumptions used to determine year-end benefit obligations are the assumptions used to estimate the subsequent year’s net periodic benefit costs.
 
Pension Benefits
 
Other Postretirement Benefits
 
Exelon
2018
 
2017
 
2016(f)
 
2018
 
2017
 
2016(f)
 
Discount rate
4.31
%
(a)  
3.62
%
(b)  
4.04
%
(c) 
4.30
%
(a)  
3.61
%
(b)  
4.04
%
(c) 
Investment Crediting Rate
4.46
%
 
4.00
%
 
4.46
%
 
N/A
 
N/A
 
N/A

 
Rate of compensation increase
    
(d) 
    
(d)  
 
(e)  
    
(d)  
    
(d)  
 
(e)  
Mortality table
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)

  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
 
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
 
Health care cost trend on covered charges
N/A
  
N/A
  
N/A
 
5.00% with ultimate trend of 5.00% in 2017
  
  
  
  
  
  
  
5.00% with
ultimate
trend of
5.00% in
2017
  
  
  
  
  
  
  
5.00%
decreasing
to
ultimate
trend of
5.00% in
2017
 
__________
(a)
The discount rates above represent the blended rates used to determine the majority of Exelon’s pension and other postretirement benefits obligations as of December 31, 2018. Certain benefit plans used individual rates ranging from 4.13% - 4.36% and 4.27% - 4.38% for pension and other postretirement plans, respectively.
(b)
The discount rates above represent the blended rates used to determine the majority of Exelon’s pension and other postretirement benefits obligations as of December 31, 2017. Certain benefit plans used individual rates ranging from 3.49% - 3.65% and 3.57% - 3.68% for pension and other postretirement plans, respectively.
(c)
The discount rates above represent the blended rates used to determine the majority of Exelon’s pension and other postretirement benefits obligations as of December 31, 2016. Certain benefit plans used individual rates ranging from 3.66% - 4.11% and 4.00% - 4.17% for pension and other postretirement plans, respectively.
(d)
3.25% through 2019 and 3.75% thereafter.
(e)
The legacy Exelon, CEG and CENG pension and other postretirement plans used a rate of compensation increase of 3.25% through 2019 and 3.75% thereafter, while the legacy PHI pension and other postretirement plans used a weighted-average rate of compensation increase of 5% for all periods.
(f)
Obligation was not remeasured for the PHI predecessor for the period from January 1, 2016, to March 23, 2016
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Net Periodic Benefit Cost [Table Text Block]
The following assumptions were used to determine the net periodic benefit costs for the plans for the years ended December 31, 2018, 2017 and 2016, as well as for the PHI predecessor period January 1, 2016 to March 23, 2016: 
 
Pension Benefits
 
Other Postretirement Benefits
 
Exelon
2018
 
2017
 
2016
 
2018
 
2017
 
2016
 
Discount rate
3.62
%
(a) 
4.04
%
(b) 
4.29
%
(c)  
3.61
%
(a) 
4.04
%
(b) 
4.29
%
(c)  
Investment Crediting Rate
4.00
%
 
4.46
%
 
5.31
%
 
N/A

 
N/A

 
N/A

 
Expected return on plan assets
7.00
%
(d) 
7.00
%
(d) 
7.00
%
(d) 
6.60
%
(d) 
6.58
%
(d) 
6.71
%
(d) 
Rate of compensation increase
    


(e)  
 

(f)  
 
(f) 
    


(e)  
 

(f)  
 

(f)  
Mortality table
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
Health care cost trend on covered charges
N/A
  
N/A
  
N/A
  
5.00%
with
ultimate
trend of
5.00% in
2017
  
  
  
  
  
  
  
5.00%
with
ultimate
trend of
5.00% in
2017
  
  
  
  
  
  
  
5.50%
decreasing
to
ultimate
trend of
5.00% in
2017
  
  
  
  
  
  
  
 
Predecessor
 
Pension Benefits
 
Other Postretirement Benefits
PHI
January 1, 2016 to March 23, 2016
 
January 1, 2016 to March 23, 2016
Discount rate
4.65%/4.55%

(g) 
4.55
%
Investment crediting rate
2.89
%
 
N/A

Expected return on plan assets(h)
6.50
%
 
6.75
%
Rate of compensation
increase
5.00
%
 
5.00
%
Mortality table
RP-2014 table with improvement scale MP-2015
 
RP-2014 table with improvement scale MP-2015
Health care cost trend on covered charges
N/A
 
6.33% pre-65 and 5.40% post-65 decreasing to ultimate trend of 5.00% in 2020
__________
(a)
The discount rates above represent the blended rates used to establish the majority of Exelon’s pension and other postretirement benefits costs for the year ended December 31, 2018. Certain benefit plans used individual rates ranging from 3.49%-3.65% and 3.57%-3.68% for pension and other postretirement plans, respectively.
(b)
The discount rates above represent the blended rates used to establish the majority of Exelon's pension and other postretirement benefits costs for the year ended December 31, 2017. Certain benefit plans used individual rates ranging from 3.66%-4.11% and 4.00%-4.17% for pension and other postretirement plans, respectively.
(c)
The discount rates above represent the blended rates used to establish the majority of Exelon’s pension and other postretirement benefits costs for the year ended December 31, 2016. Certain benefit plans used the individual rates ranging from 3.68%-4.14% and 4.32%-4.43% for pension and other postretirement plans, respectively.
(d)
Not applicable to pension and other postretirement benefit plans that do not have plan assets.
(e)
3.25% through 2019 and 3.75% thereafter.
(f)
The legacy Exelon, CEG and CENG pension and other postretirement plans used a rate of compensation increase of 3.25% through 2019 and 3.75% thereafter, while the legacy PHI pension and other postretirement plans used a weighted-average rate of compensation increase of 5% for all periods.
(g)
The discount rate for the qualified and non-qualified pension plans was 4.65% and 4.55%, respectively.
(h)
Expected return on other postretirement benefit plan assets is pre-tax.
Pension And Other Postretirement Benefit Contributions [Table Text Block]
s
The following tables provide contributions to the pension and other postretirement benefit plans:
 
Pension Benefits
 
Other Postretirement Benefits
 
2018(a)
 
2017(a)
 
2016(a)
 
2018
 
2017
 
2016
Exelon
$
337


$
341


$
347


$
46


$
64


$
50

Generation
128

 
137

 
140

 
11

 
11

 
12

ComEd
38

 
36

 
33

 
4

 
5

 
5

PECO
28

 
24

 
30

 
—

 
—

 
—

BGE
40

 
39

 
31

 
14

 
14

 
18

BSC(b)
41

 
38

 
39

 
5

 
2

 
3

Pepco
6

 
62

 
24

 
11

 
10

 
8

DPL
—

 
—

 
22

 
—

 
2

 
—

ACE
6

 
—

 
15

 
—

 
20

 
2

PHISCO (c)
50

 
5

 
17

 
1

 
—

 
2

 
Pension Benefits
 
Other Postretirement Benefits
 
Successor
 
 
Predecessor
 
Successor
 
 
Predecessor
 
2018
 
2017
 
March 24, 2016 to December 31, 2016
 
 
January 1, 2016 to March 23, 2016
 
2018
 
2017
 
March 24, 2016 to December 31, 2016
 
 
January 1, 2016 to March 23, 2016
PHI
$
62

 
$
67

 
$
74

 
 
$
4

 
$
12

 
$
32

 
$
12

 
 
$
—

__________
(a)
Exelon's and Generation's pension contributions include $21 million and $25 million related to the legacy CENG plans that was funded by CENG as provided in an Employee Matters Agreement (EMA) between Exelon and CENG for the years ended December 31, 2017 and 2016, respectively. There were no pension contributions for the year ended December 31, 2018.
(b)
Includes $2 million, $4 million, and $6 million of pension contributions funded by Exelon Corporate, for the years ended December 31, 2018, 2017, and 2016, respectively.
(c)
:

Qualified Pension Plans

Non-Qualified Pension Plans

Other
Postretirement
Benefits
Exelon
$
301


$
25


$
44

Generation
135


7


13

ComEd
65


1


2

PECO
25


1


—

BGE
34


1


15

BSC
41


7


2

PHI
1


8


12

Pepco
—


2


10

DPL
—


1


—

ACE
—


—


1

PHISCO
1


5


1
Schedule of Expected Benefit Payments [Table Text Block]

Estimated Future Benefit Payments
Estimated future benefit payments to participants in all of the pension plans and postretirement benefit plans at December 31, 2018 were:
 
Pension
Benefits
 
Other
Postretirement
Benefits
2019
$
1,196

 
$
255

2020
1,221

 
263

2021
1,258

 
269

2022
1,284

 
274

2023
1,302

 
282

2024 through 2028
6,770

 
1,483

Total estimated future benefit payments through 2028
$
13,031


$
2,826
Schedule Of Pension And Other Postretirement Benefit Costs [Table Text Block]
For the Years Ended December 31,
Exelon
 
Generation(a)
 
ComEd
 
PECO
 
BGE
 
BSC(b)
 
Pepco(c)
 
DPL(c)
 
ACE(c)
 
PHISCO(c)(d)
2018
$
583

 
$
204


$
177


$
18

 
$
60

 
$
57

 
$
15

 
$
6

 
$
12

 
$
34

2017
643

 
227


176


29

 
64

 
53

 
25

 
13

 
13

 
43

2016
621

 
218


166


33

 
68

 
48

 
31

 
18

 
15

 
47

 
Successor
 
 
Predecessor
PHI
For the Year Ended December 31, 2018
 
For the Year Ended December 31, 2017
 
March 24, 2016 to December 31, 2016
 
 
January 1, 2016 to March 23, 2016
Pension and Other Postretirement Benefit Costs
$
67

 
$
94

 
$
88

 
 
$
23

__________
(a)
FitzPatrick net benefit costs are included for the period after acquisition.
(b)
These amounts primarily represent amounts billed to Exelon’s subsidiaries through intercompany allocations. These amounts are not included in the Generation, ComEd, PECO, BGE, PHI, Pepco, DPL or ACE amounts
Defined Benefit Plan Weighted Average Asset Allocations And Target Allocations [Table Text Block]
ively.
Exelon’s pension and other postretirement benefit plan target asset allocations at December 31, 2018 and 2017 asset allocations were as follows:
Pension Plans 
 
 
 
Exelon
 
 
 
Percentage of Plan Assets
at December 31,
Asset Category
Target Allocation
 
2018
 
2017
Equity securities
35
%
 
32
%
 
35
%
Fixed income securities
37
%
 
38

 
39

Alternative investments(a)
28
%
 
30

 
26

Total
 
 
100
%
 
100
%
Other Postretirement Benefit Plans
 
 
 
Exelon
 
 
 
Percentage of Plan Assets
at December 31,
Asset Category
Target Allocation
 
2018
 
2017
Equity securities
47
%
 
44
%
 
47
%
Fixed income securities
28
%
 
28

 
28

Alternative investments(a)
25
%
 
28

 
25

Total
 
 
100
%
 
100
%
__________
(a)
Alternative investments include private equity, hedge funds, real estate, and private credit
Defined Benefit Plan Fair Value Of Plan Assets [Text Block]
Fair Value Measurements
The following tables present pension and other postretirement benefit plan assets measured and recorded at fair value in the Registrants' Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy at December 31, 2018 and 2017:
Exelon 
December 31, 2018(a)
Level 1
 
Level 2
 
Level 3
 
Not subject to leveling
 
Total
Pension plan assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
350

 
$
—

 
$
—

 
$
—

 
$
350

Equities(c)
3,364

 
—

 
2

 
1,980

 
5,346

Fixed income:





 
 
 

U.S. Treasury and agencies
996

 
173

 
—

 
—

 
1,169

State and municipal debt
—

 
59

 
—

 
—

 
59

Corporate debt
—

 
3,716

 
216

 
—

 
3,932

Other(c)
—

 
329

 
—

 
613

 
942

Fixed income subtotal
996


4,277


216

 
613

 
6,102

Private equity
—

 
—

 
—

 
1,219

 
1,219

Hedge funds
—

 
—

 
—

 
1,608

 
1,608

Real estate
—

 
—

 
—

 
1,029

 
1,029

Private credit
—

 
—

 
268

 
798

 
1,066

Pension plan assets subtotal
$
4,710


$
4,277


$
486

 
$
7,247

 
$
16,720

December 31, 2018(a)
Level 1
 
Level 2
 
Level 3
 
Not subject to leveling
 
Total
Other postretirement benefit plan assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
22

 
$
—

 
$
—

 
$
—

 
$
22

Equities
537

 
2

 
—

 
508

 
1,047

Fixed income:





 
 
 

U.S. Treasury and agencies
11

 
56

 
—

 
—

 
67

State and municipal debt
—

 
126

 
—

 
—

 
126

Corporate debt
—

 
48

 
—

 
—

 
48

Other
183

 
72

 
—

 
170

 
425

Fixed income subtotal
194


302


—


170

 
666

Hedge funds
—

 
—

 
—

 
411

 
411

Real estate
—

 
—

 
—

 
132

 
132

Private credit
—

 
—

 
—

 
132

 
132

Other postretirement benefit plan assets subtotal
$
753


$
304


$
—

 
$
1,353


$
2,410

Total pension and other postretirement benefit plan assets(e)
$
5,463

 
$
4,581

 
$
486

 
$
8,600

 
$
19,130

December 31, 2017(a)(b)
Level 1
 
Level 2
 
Level 3
 
Not subject to leveling
 
Total
Pension plan assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
585

 
$
—

 
$
—

 
$
—

 
$
585

Equities(c)
3,565

 
—

 
2

 
3,077

 
6,644

Fixed income:


 


 


 
 
 


U.S. Treasury and agencies
1,150

 
159

 
—

 
—

 
1,309

State and municipal debt
—

 
64

 
—

 
—

 
64

Corporate debt
—

 
3,931

 
232

 
—

 
4,163

Other(c)
—

 
447

 
—

 
756

 
1,203

Fixed income subtotal
1,150


4,601


232

 
756

 
6,739

Private equity
—

 
—

 
—

 
1,034

 
1,034

Hedge funds
—

 
—

 
—

 
1,770

 
1,770

Real estate
—

 
—

 
—

 
884

 
884

Private credit(d)
—

 
—

 
224

 
695

 
919

Pension plan assets subtotal
$
5,300


$
4,601


$
458

 
$
8,216


$
18,575

December 31, 2017(a)(b)
Level 1
 
Level 2
 
Level 3
 
Not subject to leveling
 
Total
Other postretirement benefit plan assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
29

 
$
—

 
$
—

 
$
—

 
$
29

Equities
523

 
2

 
—

 
764

 
1,289

Fixed income:





 
 
 

U.S. Treasury and agencies
13

 
56

 
—

 
—

 
69

State and municipal debt
—

 
136

 
—

 
—

 
136

Corporate debt
—

 
47

 
—

 
—

 
47

Other
225

 
71

 
—

 
185

 
481

Fixed income subtotal
238


310


—

 
185

 
733

Hedge funds
—

 
—

 
—

 
430

 
430

Real estate
—

 
—

 
—

 
124

 
124

Private credit
—

 
—

 
—

 
123

 
123

Other postretirement benefit plan assets subtotal
$
790


$
312


$
—

 
$
1,626

 
$
2,728

Total pension and other postretirement benefit plan assets(e)
$
6,090

 
$
4,913

 
$
458

 
$
9,842

 
$
21,303

__________
(a)
See Note 11—Fair Value of Financial Assets and Liabilities for a description of levels within the fair value hierarchy.
(b)
Effective March 31, 2017, Exelon became sponsor of FitzPatrick's defined benefit pension and other postretirement benefit plans, and assumed FitzPatrick's benefit plan obligations.
(c)
Includes derivative instruments of less than $1 million and $6 million, which have a total notional amount of $5,991 million and $3,606 million at December 31, 2018 and 2017, respectively. The notional principal amounts for these instruments provide one measure of the transaction volume outstanding as of the fiscal years ended and do not represent the amount of the company’s exposure to credit or market loss.
(d)
Prior year amounts reflect a reclassification from Not subject to leveling into Level 3.
(e)
Excludes net liabilities of $44 million and net assets of $2 million at December 31, 2018 and 2017, respectively, which are required to reconcile to the fair value of net plan assets. These items consist primarily of receivables or payables related to pending securities sales and purchases, interest and dividends receivable
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
The following table presents the reconciliation of Level 3 assets and liabilities measured at fair value for pension and other postretirement benefit plans for the years ended December 31, 2018 and 2017:
Exelon
 
Fixed Income
 
Equities
 
Private
Credit
 
Total
Pension Assets
 
 
 
 
 
 
 
Balance as of January 1, 2018
$
232


$
2

 
$
224

 
$
458

Actual return on plan assets:



 
 
 


Relating to assets still held at the
reporting date
(14
)

—

 
9

 
(5
)
Relating to assets sold during the
period
(1
)

—

 
—

 
(1
)
Purchases, sales and settlements:



 
 
 


Purchases
19


—

 
35

 
54

Sales
(8
)

—

 
—

 
(8
)
Settlements(b)
(12
)

—

 
—

 
(12
)
Balance as of December 31, 2018
$
216


$
2

 
$
268

 
$
486

 
Fixed income
 
Equities
 
Private
Credit (a)
 
Total
Pension Assets
 
 
 
 
 
 
 
Balance as of January 1, 2017
$
206


$
2

 
$
229

 
$
437

Actual return on plan assets:



 
 
 


Relating to assets still held at the
reporting date
11


—

 
29

 
40

Purchases, sales and settlements:



 
 
 


Purchases
31


—

 
5

 
36

Sales
(16
)

—

 
—

 
(16
)
      Settlements(b)
—


—

 
(39
)
 
(39
)
Balance as of December 31, 2017
$
232


$
2


$
224

 
$
458

__________
(a)
Schedule Of Defined Contributions [Table Text Block]
in limits. The following table presents matching contributions to the savings plan for the years ended December 31, 2018, 2017 and 2016:
For the Year Ended December 31,
Exelon(a)
 
Generation(a)
 
ComEd
 
PECO
 
BGE
 
BSC(b)
 
Pepco(c)
 
DPL(c)
 
ACE
 
PHISCO(c)(d)
2018
$
179

 
$
86


$
37


$
9


$
12


$
22

 
$
3

 
$
2

 
$
2

 
$
6

2017
128

 
55


31


10


10


9

 
3

 
2

 
2

 
6

2016
164

 
79


34


10


12


19

 
3

 
2

 
2

 
6

 
Successor
 
 
Predecessor
PHI
For the Year Ended December 31, 2018
 
For the Year Ended December 31, 2017
 
March 24, 2016 to December 31, 2016
 
 
January 1, 2016 to March 23, 2016
Saving Plan Matching Contributions
$
13

 
$
13

 
$
10

 
 
$
3


__________
(a)
Includes $13 million related to CENG for the year ended December 31, 2016.
(b)
These amounts primarily represent amounts billed to Exelon’s subsidiaries through intercompany allocations. These costs are not included in the Generation, ComEd, PECO, BGE, PHI, Pepco, DPL or ACE amounts above.
(c)
Pepco's, DPL's and PHISCO's matching contributions include $1 million, $1 million and $1 million, respectively, of costs incurred prior to the closing of Exelon's merger with PHI on March 23, 2016, which is not included in Exelon's matching contributions for the year ended December 31, 2016.
(d)
These amounts primarily represent amounts billed to Pepco, DPL, and ACE through intercompany allocations. These amounts are not included in Pepco, DPL or ACE amounts above.