Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Components of Lease Cost [Table Text Block]

The components of lease costs for the three months ended June 30, 2019 were as follows:

	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Operating lease costs	$	87	$	61	$	1	$	—	$	9	$	13	$	3	$	4	$	3
Variable lease costs	77		72		1		—		1		2		1		—		1
Short-term lease costs	3		3		—		—		—		—		—		—		—
Total lease costs (a)	$	167	$	136	$	2	$	—	$	10	$	15	$	4	$	4	$	4

__________

(a) Excludes $16 million, $12 million, $4 million and $4 million of sublease income recorded at Exelon, Generation, PHI and DPL.

The components of lease costs for the six months ended June 30, 2019 were as follows:

	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Operating lease costs	$	155	$	107	$	2	$	—	$	17	$	23	$	6	$	7	$	4
Variable lease costs	150		140		1		—		1		4		1		1		1
Short-term lease costs	11		11		—		—		—		—		—		—		—
Total lease costs (a)	$	316	$	258	$	3	$	—	$	18	$	27	$	7	$	8	$	5

__________

(a)

Excludes $19 million, $14 million, $5 million and $5 million of sublease income recorded at Exelon, Generation, PHI and DPL.

The weighted average remaining lease terms, in years, and discount rates for operating leases as of June 30, 2019 were as follows:

	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Remaining lease term	9.9		10.6		4.9		4.4		5.4		9.2		9.7		9.6		5.2
Discount rate	4.6	%	4.8	%	3.1	%	3.4	%	3.6	%	4.1	%	3.8	%	3.9	%	3.5	%

Supplemental Balance Sheet Information Related to Lessee Right-of-Use Assets and Lease Liabilities [Table Text Block]

The following table provides additional information regarding the presentation of operating lease ROU assets and lease liabilities within the Registrants’ Consolidated Balance Sheets as of June 30, 2019:

	Exelon(a)		Generation(a)		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Operating lease ROU assets
Other deferred debits and other assets	$	1,412	$	982	$	11	$	2	$	91	$	309	$	67	$	74	$	24
Operating lease liabilities
Other current liabilities	250		173		3		1		32		36		8		11		6
Other deferred credits and other liabilities	1,353		981		9		1		65		280		60		72		19
Total operating lease liabilities	$	1,603	$	1,154	$	12	$	2	$	97	$	316	$	68	$	83	$	25

__________

(a)

Exelon's and Generation's operating ROU assets and lease liabilities include $595 million and $744 million, respectively, related to contracted generation.

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Future minimum lease payments for operating leases as of June 30, 2019 were as follows:

Year	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
2019	$	149	$	104	$	2	$	1	$	17	$	23	$	6	$	5	$	4
2020	291		202		3		1		34		44		9		12		5
2021	246		161		3		—		31		42		9		12		5
2022	177		112		2		—		16		41		8		11		4
2023	141		99		1		—		—		39		8		10		3
Remaining years	1,051		834		2		—		19		196		43		52		6
Total	2,055		1,512		13		2		117		385		83		102		27
Interest	452		358		1		—		20		69		15		19		2
Total operating lease liabilities	$	1,603	$	1,154	$	12	$	2	$	97	$	316	$	68	$	83	$	25

Schedule of Future Minimum Lease Payments for Operating Leases [Table Text Block]

Future minimum lease payments for operating leases under the prior lease accounting guidance as of December 31, 2018 were as follows:

Year	Exelon(a)(b)		Generation(a)(b)		ComEd(a)(c)		PECO(a)(c)		BGE(a)(c)(d)(e)		PHI(a)		Pepco(a)		DPL(a)(c)		ACE(a)
2019	$	140	$	33	$	7	$	5	$	35	$	48	$	11	$	14	$	7
2020	149		46		5		5		35		46		10		13		6
2021	143		46		4		5		33		43		9		12		5
2022	126		47		4		5		18		42		8		12		5
2023	97		46		3		5		3		39		8		10		4
Remaining years	723		545		—		—		19		159		40		35		5
Total minimum future lease payments	$	1,378	$	763	$	23	$	25	$	143	$	377	$	86	$	96	$	32

__________

(a) Includes amounts related to shared use land arrangements.

(b) Excludes Generation’s contingent operating lease payments associated with contracted generation.

(c) Amounts related to certain real estate leases and railroad licenses effectively have indefinite payment periods. As a result, ComEd, PECO, BGE and DPL have excluded these payments from the remaining years as such amounts would not be meaningful. ComEd's, PECO’s, BGE’s and DPL's average annual obligation for these arrangements, included in each of the years 2019 - 2023, was $3 million, $5 million, $1 million and $1 million respectively. Also includes amounts related to shared use land arrangements.

(d) Includes all future lease payments on a 99-year real estate lease that expires in 2106.

(e)

The BGE column above includes minimum future lease payments associated with a 6-year lease for the Baltimore City conduit system that became effective during the fourth quarter of 2016. BGE's total commitments under the lease agreement are $26 million, $28 million, $28 million and $14 million related to years 2019 - 2022, respectively.

Schedule of Supplemental Cash Flow Information Related to Leases [Table Text Block]

Cash paid for amounts included in the measurement of lease liabilities for the six months ended June 30, 2019 were as follows:

	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Operating cash flows from operating leases	$	142	$	101	$	2	$	—	$	16	$	19	$	5	$	4	$	3

ROU assets obtained in exchange for lease obligations for the six months ended June 30, 2019 were as follows:

	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Operating leases	$	30	$	7	$	6	$	—	$	1	$	15	$	6	$	6	$	3

Components of Operating Lease Income [Table Text Block]

The components of lease income for the three months ended June 30, 2019 were as follows:

	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Operating lease income	$	14	$	12	$	—	$	—	$	—	$	1	$	—	$	1	$	—
Variable lease income	77		74		—		—		—		3		—		3		—

The components of lease income for the six months ended June 30, 2019 were as follows:

	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Operating lease income	$	18	$	15	$	—	$	—	$	—	$	2	$	—	$	2	$	—
Variable lease income	129		126		—		—		—		3		—		3		—

Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]

Future minimum lease payments to be recovered under operating leases as of June 30, 2019 were as follows:

Year	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
2019	$	33	$	31	$	—	$	—	$	—	$	2	$	—	$	2	—
2020	51		46		—		—		—		4		—		3		—
2021	51		46		—		—		—		4		1		3		—
2022	50		45		—		—		—		5		—		4		—
2023	49		45		—		—		—		4		—		3		—
Remaining years	314		271		1		3		1		38		—		38		—
Total	$	548	$	484	$	1	$	3	$	1	$	57	$	1	$	53	$	—