XML 51 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2019
Dec. 31, 2018
Current Assets    
Cash and cash equivalents $ 880 $ 1,349
Restricted cash and cash equivalents 223 247
Accounts receivable, net    
Customer 4,564 4,607
Other 1,062 1,256
Mark-to-market derivative assets, current 652 804
Unamortized energy contract assets, current 49 48
Inventories, net    
Fossil fuel and emission allowances 179 334
Materials and supplies 1,380 1,351
Regulatory assets, current 1,191 1,222
Assets held for sale 890 904
Other 1,406 1,238
Total current assets 12,476 13,360
Property, plant and equipment, net 77,460 76,707
Deferred debits and other assets    
Regulatory assets, noncurrent 8,222 8,237
Nuclear decommissioning trust funds 12,302 11,661
Investments 620 625
Goodwill 6,677 6,677
Mark-to-market derivative assets, noncurrent 454 452
Unamortized energy contract assets, noncurrent 365 372
Other 3,017 1,575
Total deferred debits and other assets 31,657 29,599
Total assets [1] 121,593 119,666
Current Liabilities    
Short-term borrowings 1,254 714
Long-term debt due within one year 2,508 1,349
Accounts payable 3,327 3,800
Accrued expenses 1,725 2,112
Payable to affiliates, current 5 5
Regulatory liabilities, current 522 644
Mark-to-market derivative liabilities, current 345 475
Unamortized energy contract liabilities, current 151 149
Renewable energy credit obligation 348 344
Liabilities held for sale 799 777
Other 1,245 1,035
Total current liabilities 12,229 11,404
Long-term debt 32,960 34,075
Long-term debt to financing trusts 390 390
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 11,642 11,330
Asset retirement obligations, noncurrent 9,967 9,679
Pension obligations 3,734 3,988
Non-pension postretirement benefit obligations 1,984 1,928
Spent nuclear fuel obligation 1,178 1,171
Regulatory liabilities, noncurrent 9,781 9,559
Mark-to-market derivative liabilities, noncurrent 434 479
Unamortized energy contract liabilities, noncurrent 432 463
Other 3,158 2,130
Total deferred credits and other liabilities 42,310 40,727
Total liabilities [1] 87,889 86,596
Commitments and contingencies
Shareholders' equity    
Common stock 19,171 19,116
Treasury stock, at cost (2 shares at March 31, 2019 and December 31, 2018) (123) (123)
Retained earnings 15,321 14,766
Accumulated other comprehensive loss, net (3,012) (2,995)
Total shareholders’ equity 31,357 30,764
Member’s equity    
Noncontrolling Interests 2,347 2,306
Total equity 33,704 33,070
Total liabilities and shareholders’ equity 121,593 119,666
Variable Interest Entity, Consolidated, Assets, Pledged 9,546 9,667
Variable Interest Entity, Consolidated, Liabilities, No Recourse 3,572 3,548
Exelon Generation Co L L C [Member]    
Current Assets    
Cash and cash equivalents 537 750
Restricted cash and cash equivalents 139 153
Accounts receivable, net    
Customer 2,800 2,941
Other 367 562
Mark-to-market derivative assets, current 652 804
Receivable from affiliates, current 163 173
Unamortized energy contract assets, current 49 49
Inventories, net    
Fossil fuel and emission allowances 146 251
Materials and supplies 965 963
Assets held for sale 890 904
Other 1,013 883
Total current assets 7,721 8,433
Property, plant and equipment, net 24,034 23,981
Deferred debits and other assets    
Nuclear decommissioning trust funds 12,302 11,661
Investments 404 414
Goodwill 47 47
Mark-to-market derivative assets, noncurrent 454 452
Prepaid pension asset 1,525 1,421
Unamortized energy contract assets, noncurrent 364 371
Deferred income taxes 18 21
Other 1,813 755
Total deferred debits and other assets 16,927 15,142
Total assets [2] 48,682 47,556
Current Liabilities    
Long-term debt due within one year 2,365 906
Accounts payable 1,566 1,847
Accrued expenses 675 898
Payable to affiliates, current 136 139
Borrowings from Exelon intercompany money pool 0 100
Mark-to-market derivative liabilities, current 318 449
Unamortized energy contract liabilities, current 28 31
Renewable energy credit obligation 348 343
Liabilities held for sale 799 777
Other 425 279
Total current liabilities 6,660 5,769
Long-term debt 5,487 6,989
Long-term debt to affiliates 895 898
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 3,502 3,383
Asset retirement obligations, noncurrent 9,737 9,450
Non-pension postretirement benefit obligations 894 900
Spent nuclear fuel obligation 1,178 1,171
Payables to affiliates, noncurrent 2,870 2,606
Mark-to-market derivative liabilities, noncurrent 219 252
Unamortized energy contract liabilities, noncurrent 16 20
Other 1,528 610
Total deferred credits and other liabilities 19,944 18,392
Total liabilities [2] 32,986 32,048
Commitments and contingencies
Shareholders' equity    
Retained earnings 3,862 3,724
Accumulated other comprehensive loss, net (36) (38)
Member’s equity    
Membership interest 9,525 9,518
Total members' equity 13,351 13,204
Noncontrolling Interests 2,345 2,304
Total equity 15,696 15,508
Total liabilities and shareholders’ equity 48,682 47,556
Variable Interest Entity, Consolidated, Assets, Pledged 9,515 9,634
Variable Interest Entity, Consolidated, Liabilities, No Recourse 3,508 3,480
Commonwealth Edison Co [Member]    
Current Assets    
Cash and cash equivalents 68 135
Restricted cash and cash equivalents 17 29
Accounts receivable, net    
Customer 539 539
Other 336 320
Receivable from affiliates, current 21 20
Inventories, net    
Inventories, net 152 148
Regulatory assets, current 285 293
Other 89 86
Total current assets 1,507 1,570
Property, plant and equipment, net 22,274 22,058
Deferred debits and other assets    
Regulatory assets, noncurrent 1,338 1,307
Investments 6 6
Goodwill 2,625 2,625
Receivable from affiliates, noncurrent 2,412 2,217
Prepaid pension asset 1,073 1,035
Other 347 395
Total deferred debits and other assets 7,801 7,585
Total assets 31,582 31,213
Current Liabilities    
Short-term borrowings 322 0
Long-term debt due within one year 0 300
Accounts payable 491 607
Accrued expenses 229 373
Payable to affiliates, current 74 119
Customer deposits 112 111
Regulatory liabilities, current 241 293
Mark-to-market derivative liabilities, current 27 26
Other 98 96
Total current liabilities 1,594 1,925
Long-term debt 8,194 7,801
Long-term debt to financing trusts 205 205
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 3,870 3,813
Asset retirement obligations, noncurrent 119 118
Non-pension postretirement benefit obligations 196 201
Regulatory liabilities, noncurrent 6,269 6,050
Mark-to-market derivative liabilities, noncurrent 213 223
Other 582 630
Total deferred credits and other liabilities 11,249 11,035
Total liabilities 21,242 20,966
Commitments and contingencies
Shareholders' equity    
Common stock 1,588 1,588
Other paid-in capital 7,385 7,322
Retained deficit unappropriated (1,639) (1,639)
Retained earnings appropriated 3,006 2,976
Total shareholders’ equity 10,340 10,247
Member’s equity    
Total liabilities and shareholders’ equity 31,582 31,213
PECO Energy Co [Member]    
Current Assets    
Cash and cash equivalents 41 130
Restricted cash and cash equivalents 6 5
Accounts receivable, net    
Customer 394 321
Other 148 151
Inventories, net    
Fossil fuel and emission allowances 15 38
Materials and supplies 37 37
Prepaid utility taxes 100 0
Regulatory assets, current 54 81
Other 21 19
Total current assets 816 782
Property, plant and equipment, net 8,766 8,610
Deferred debits and other assets    
Regulatory assets, noncurrent 491 460
Investments 25 25
Receivable from affiliates, noncurrent 457 389
Prepaid pension asset 372 349
Other 29 27
Total deferred debits and other assets 1,374 1,250
Total assets 10,956 10,642
Current Liabilities    
Accounts payable 379 370
Accrued expenses 119 113
Payable to affiliates, current 66 59
Customer deposits 68 68
Regulatory liabilities, current 123 175
Other 32 24
Total current liabilities 787 809
Long-term debt 3,084 3,084
Long-term debt to financing trusts 184 184
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 1,974 1,933
Asset retirement obligations, noncurrent 27 27
Non-pension postretirement benefit obligations 288 288
Regulatory liabilities, noncurrent 488 421
Other 81 76
Total deferred credits and other liabilities 2,858 2,745
Total liabilities 6,913 6,822
Commitments and contingencies
Shareholders' equity    
Common stock 2,723 2,578
Retained earnings 1,320 1,242
Total shareholders’ equity 4,043 3,820
Member’s equity    
Total liabilities and shareholders’ equity 10,956 10,642
Baltimore Gas and Electric Company [Member]    
Current Assets    
Cash and cash equivalents 12 7
Restricted cash and cash equivalents 4 6
Accounts receivable, net    
Customer 385 353
Other 89 90
Receivable from affiliates, current 0 1
Inventories, net    
Fossil fuel and emission allowances 16 36
Materials and supplies 42 39
Prepaid utility taxes 38 74
Regulatory assets, current 161 177
Other 6 3
Total current assets 753 786
Property, plant and equipment, net 8,408 8,243
Deferred debits and other assets    
Regulatory assets, noncurrent 395 398
Investments 5 5
Prepaid pension asset 301 279
Other 105 5
Total deferred debits and other assets 806 687
Total assets 9,967 9,716
Current Liabilities    
Short-term borrowings 106 35
Accounts payable 291 295
Accrued expenses 142 155
Payable to affiliates, current 54 65
Customer deposits 120 120
Regulatory liabilities, current 67 77
Other 54 27
Total current liabilities 834 774
Long-term debt 2,876 2,876
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 1,275 1,222
Asset retirement obligations, noncurrent 24 24
Non-pension postretirement benefit obligations 198 201
Regulatory liabilities, noncurrent 1,172 1,192
Other 130 73
Total deferred credits and other liabilities 2,799 2,712
Total liabilities 6,509 6,362
Commitments and contingencies
Shareholders' equity    
Common stock 1,714 1,714
Retained earnings 1,744 1,640
Total shareholders’ equity 3,458 3,354
Member’s equity    
Total liabilities and shareholders’ equity 9,967 9,716
Pepco Holdings LLC [Member]    
Current Assets    
Cash and cash equivalents 33 124
Restricted cash and cash equivalents 39 43
Accounts receivable, net    
Customer 445 453
Other 189 177
Receivable from affiliates, current 1 0
Inventories, net    
Fossil fuel and emission allowances 2 9
Materials and supplies 184 163
Regulatory assets, current 506 489
Other 54 75
Total current assets 1,453 1,533
Property, plant and equipment, net 13,619 13,446
Deferred debits and other assets    
Regulatory assets, noncurrent 2,236 2,312
Investments 132 130
Goodwill 4,005 4,005
Prepaid pension asset 467 486
Deferred income taxes 12 12
Other 370 60
Total deferred debits and other assets 7,222 7,005
Total assets [3] 22,294 21,984
Current Liabilities    
Short-term borrowings 326 179
Long-term debt due within one year 125 125
Accounts payable 441 496
Accrued expenses 253 256
Payable to affiliates, current 87 94
Customer deposits 117 116
Regulatory liabilities, current 76 84
Unamortized energy contract liabilities, current 123 119
Other 127 123
Total current liabilities 1,675 1,592
Long-term debt 6,119 6,134
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 2,182 2,146
Asset retirement obligations, noncurrent 52 52
Non-pension postretirement benefit obligations 101 103
Regulatory liabilities, noncurrent 1,829 1,864
Unamortized energy contract liabilities, noncurrent 416 442
Other 630 369
Total deferred credits and other liabilities 5,210 4,976
Total liabilities [3] 13,004 12,702
Commitments and contingencies
Shareholders' equity    
Retained earnings 51 62
Member’s equity    
Membership interest 9,239 9,220
Total members' equity 9,290 9,282
Total equity 9,290 9,282
Total liabilities and shareholders’ equity 22,294 21,984
Variable Interest Entity, Consolidated, Assets, Pledged 31 33
Variable Interest Entity, Consolidated, Liabilities, No Recourse 64 69
Potomac Electric Power Company [Member]    
Current Assets    
Cash and cash equivalents 11 16
Restricted cash and cash equivalents 35 37
Accounts receivable, net    
Customer 219 225
Other 102 81
Receivable from affiliates, current 1 1
Inventories, net    
Inventories, net 109 93
Regulatory assets, current 270 270
Other 22 37
Total current assets 769 760
Property, plant and equipment, net 6,534 6,460
Deferred debits and other assets    
Regulatory assets, noncurrent 620 643
Investments 106 105
Prepaid pension asset 311 316
Other 80 15
Total deferred debits and other assets 1,117 1,079
Total assets 8,420 8,299
Current Liabilities    
Short-term borrowings 105 40
Long-term debt due within one year 15 15
Accounts payable 188 214
Accrued expenses 139 126
Payable to affiliates, current 65 62
Customer deposits 55 54
Regulatory liabilities, current 6 7
Merger related obligation 38 38
Current portion of DC PLUG obligation 30 30
Other 17 42
Total current liabilities 658 628
Long-term debt 2,705 2,704
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 1,081 1,064
Non-pension postretirement benefit obligations 26 29
Regulatory liabilities, noncurrent 805 822
Other 360 312
Total deferred credits and other liabilities 2,272 2,227
Total liabilities 5,635 5,559
Commitments and contingencies
Shareholders' equity    
Common stock 1,650 1,636
Retained earnings 1,135 1,104
Total shareholders’ equity 2,785 2,740
Member’s equity    
Total liabilities and shareholders’ equity 8,420 8,299
Delmarva Power and Light Company [Member]    
Current Assets    
Cash and cash equivalents 7 23
Restricted cash and cash equivalents 1 1
Accounts receivable, net    
Customer 141 134
Other 39 46
Receivable from affiliates, current 2 0
Inventories, net    
Fossil fuel and emission allowances 2 9
Materials and supplies 43 37
Regulatory assets, current 60 59
Other 21 27
Total current assets 316 336
Property, plant and equipment, net 3,848 3,821
Deferred debits and other assets    
Regulatory assets, noncurrent 225 231
Goodwill 8 8
Prepaid pension asset 182 186
Other 81 6
Total deferred debits and other assets 496 431
Total assets 4,660 4,588
Current Liabilities    
Short-term borrowings 5 0
Long-term debt due within one year 91 91
Accounts payable 98 111
Accrued expenses 50 39
Payable to affiliates, current 21 33
Customer deposits 36 35
Regulatory liabilities, current 49 59
Other 16 7
Total current liabilities 366 375
Long-term debt 1,404 1,403
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 643 628
Non-pension postretirement benefit obligations 16 17
Regulatory liabilities, noncurrent 596 606
Other 114 50
Total deferred credits and other liabilities 1,369 1,301
Total liabilities 3,139 3,079
Commitments and contingencies
Shareholders' equity    
Common stock 914 914
Retained earnings 607 595
Total shareholders’ equity 1,521 1,509
Member’s equity    
Total liabilities and shareholders’ equity 4,660 4,588
Atlantic City Electric Company [Member]    
Current Assets    
Cash and cash equivalents 6 7
Restricted cash and cash equivalents 3 4
Accounts receivable, net    
Customer 85 95
Other 52 55
Receivable from affiliates, current 1 1
Inventories, net    
Inventories, net 32 33
Regulatory assets, current 53 40
Other 6 5
Total current assets 238 240
Property, plant and equipment, net 3,041 2,966
Deferred debits and other assets    
Regulatory assets, noncurrent 377 386
Prepaid pension asset 63 67
Other 64 40
Total deferred debits and other assets 504 493
Total assets [4] 3,783 3,699
Current Liabilities    
Short-term borrowings 216 139
Long-term debt due within one year 19 18
Accounts payable 139 154
Accrued expenses 38 35
Payable to affiliates, current 24 28
Customer deposits 26 26
Regulatory liabilities, current 20 18
Other 10 4
Total current liabilities 492 422
Long-term debt 1,165 1,170
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 539 535
Non-pension postretirement benefit obligations 17 17
Regulatory liabilities, noncurrent 395 402
Other 46 27
Total deferred credits and other liabilities 997 981
Total liabilities [4] 2,654 2,573
Commitments and contingencies
Shareholders' equity    
Common stock 984 979
Retained earnings 145 147
Total shareholders’ equity 1,129 1,126
Member’s equity    
Total liabilities and shareholders’ equity 3,783 3,699
Variable Interest Entity, Consolidated, Assets, Pledged 22 23
Variable Interest Entity, Consolidated, Liabilities, No Recourse $ 54 $ 59
[1] Exelon’s consolidated assets include $9,546 million and $9,667 million at March 31, 2019 and December 31, 2018, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Exelon’s consolidated liabilities include $3,572 million and $3,548 million at March 31, 2019 and December 31, 2018, respectively, of certain VIEs for which the VIE creditors do not have recourse to Exelon. See Note 2 — Variable Interest Entities for additional information.
[2] Generation’s consolidated assets include $9,515 million and $9,634 million at March 31, 2019 and December 31, 2018, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Generation’s consolidated liabilities include $3,508 million and $3,480 million at March 31, 2019 and December 31, 2018, respectively, of certain VIEs for which the VIE creditors do not have recourse to Generation. See Note 2 — Variable Interest Entities for additional information.
[3] PHI’s consolidated total assets include $31 million and $33 million at March 31, 2019 and December 31, 2018, respectively, of PHI's consolidated VIE that can only be used to settle the liabilities of the VIE. PHI’s consolidated total liabilities include $64 million and $69 million at March 31, 2019 and December 31, 2018, respectively, of PHI's consolidated VIE for which the VIE creditors do not have recourse to PHI. See Note 2 — Variable Interest Entities for additional information.
[4] ACE’s consolidated total assets include $22 million and $23 million at March 31, 2019 and December 31, 2018, respectively, of ACE's consolidated VIE that can only be used to settle the liabilities of the VIE. ACE’s consolidated total liabilities include $54 million and $59 million at March 31, 2019 and December 31, 2018, respectively, of ACE's consolidated VIE for which the VIE creditors do not have recourse to ACE. See Note 2 — Variable Interest Entities for additional information.