EXELON CORP
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
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21. Changes in Accumulated Other Comprehensive Income (Loss)
Note 21 — Changes in Accumulated Other Comprehensive Income (Loss)
- Changes in Accumulated Other Comprehensive Income (Loss) (Exelon)
The following table presents changes in Exelon's AOCI, net of tax, by component:
| Cash FlowHedges | Pension andNon-PensionPostretirementBenefit PlanItems (a) | ForeignCurrencyItems | Total | |
|---|---|---|---|---|
| Balance at December 31, 2020 | $(5) | $(3,372) | $(23) | $(3,400) |
| OCI before reclassifications | (1) | 432 | — | 431 |
| Amounts reclassified from AOCI | — | 219 | — | 219 |
| Net current-period OCI | $(1) | $651 | $— | $650 |
| Balance at December 31, 2021 | $(6) | $(2,721) | $(23) | $(2,750) |
| Separation of Constellation | 6 | 1,994 | 23 | 2,023 |
| OCI before reclassifications | 2 | 46 | — | 48 |
| Amounts reclassified from AOCI | — | 41 | — | 41 |
| Net current-period OCI | $2 | $87 | $— | $89 |
| Balance at December 31, 2022 | $2 | $(640) | $— | $(638) |
| OCI before reclassifications | (4) | (109) | — | (113) |
| Amounts reclassified from AOCI | (1) | 26 | — | 25 |
| Net current-period OCI | $(5) | $(83) | $— | $(88) |
| Balance at December 31, 2023 | $(3) | $(723) | $— | $(726) |
(a)This AOCI component is included in the computation of net periodic pension and OPEB cost. Additionally, as of February 1, 2022, in connection with the separation, Exelon's pension and OPEB plans were remeasured. See Note 14 — Retirement Benefits for additional information. See Exelon's Statements of Operations and Comprehensive Income for individual components of AOCI.
The following table presents income tax benefit (expense) allocated to each component of Exelon's Other comprehensive income (loss):
| For the Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Pension and non-pension postretirement benefit plans: | |||
| Prior service benefits reclassified to periodic benefit cost | $— | $— | $4 |
| Actuarial losses reclassified to periodic benefit cost | (8) | (14) | (76) |
| Pension and non-pension postretirement benefit plans valuation adjustments | 33 | (14) | (153) |
| Unrealized gains on cash flow hedges | 2 | — | — |
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