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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22. Supplemental Financial Information
- Supplemental Financial Information (All Registrants)
Supplemental Statement of Operations Information
The following tables provide additional information about material items recorded in the Registrants' Consolidated Statements of Operations and Comprehensive Income.
| Taxes other than income taxes | ||||||||
|---|---|---|---|---|---|---|---|---|
| Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| Utility(a) | $875 | $299 | $166 | $97 | $313 | $283 | $26 | $4 |
| Property | 401 | 33 | 16 | 205 | 147 | 101 | 44 | 2 |
| Payroll | 124 | 31 | 17 | 18 | 27 | 6 | 5 | 3 |
| Utility(a) | $878 | $306 | $166 | $94 | $312 | $283 | $25 | $4 |
| Property | 377 | 31 | 17 | 191 | 138 | 94 | 42 | 2 |
| Payroll | 117 | 28 | 16 | 17 | 25 | 6 | 4 | 3 |
| Utility(a) | $774 | $246 | $139 | $88 | $301 | $278 | $22 | $3 |
| Property | 364 | 39 | 18 | 176 | 131 | 88 | 40 | 3 |
| Payroll | 124 | 27 | 16 | 18 | 27 | 7 | 5 | 3 |
(a)The Registrants’ utility taxes represents municipal and state utility taxes and gross receipts taxes related to their operating revenues. The offsetting collection of utility taxes from customers is recorded in revenues in the Registrants’ Consolidated Statements of Operations and Comprehensive Income.
| Other, net | ||||||||
|---|---|---|---|---|---|---|---|---|
| Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| AFUDC—Equity | $151 | $33 | $31 | $16 | $71 | $54 | $10 | $7 |
| Non-service net periodic benefit cost | (18) | — | — | — | — | — | — | — |
| AFUDC—Equity | $150 | $35 | $31 | $21 | $63 | $48 | $7 | $8 |
| Non-service net periodic benefit cost | 63 | — | — | — | — | — | — | — |
| AFUDC—Equity | $136 | $34 | $26 | $27 | $49 | $40 | $6 | $3 |
| Non-service net periodic benefit cost | 91 | — | — | — | — | — | — | — |
Supplemental Cash Flow Information
The following tables provide additional information about material items recorded in the Registrants' Consolidated Statements of Cash Flows.
| Depreciation, amortization, and accretion | ||||||||
|---|---|---|---|---|---|---|---|---|
| Exelon(a) | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| Property, plant, and equipment(b) | $2,778 | $1,095 | $383 | $509 | $737 | $311 | $208 | $195 |
| Amortization of regulatory assets(b) | 720 | 308 | 14 | 145 | 253 | 130 | 36 | 88 |
| Amortization of intangible assets, net(b) | 8 | — | — | — | — | — | — | — |
| Total depreciation and amortization | $3,506 | $1,403 | $397 | $654 | $990 | $441 | $244 | $283 |
| Property, plant, and equipment(b) | $2,690 | $1,031 | $359 | $476 | $680 | $288 | $191 | $173 |
| Amortization of regulatory assets(b) | 718 | 292 | 14 | 154 | 258 | 129 | 41 | 88 |
| Amortization of intangible assets, net(b) | 12 | — | — | — | — | — | — | — |
| Amortization of energy contract assets and liabilities(c) | 3 | — | — | — | — | — | — | — |
| Nuclear fuel(d) | 66 | — | — | — | — | — | — | — |
| ARO accretion(e) | 44 | — | — | — | — | — | — | — |
| Total depreciation, amortization, and accretion | $3,533 | $1,323 | $373 | $630 | $938 | $417 | $232 | $261 |
| Property, plant, and equipment(b) | $5,384 | $970 | $336 | $439 | $627 | $274 | $169 | $155 |
| Amortization of regulatory assets(b) | 594 | 235 | 12 | 152 | 194 | 129 | 41 | 24 |
| Amortization of intangible assets, net(b) | 58 | — | — | — | — | — | — | — |
| Amortization of energy contract assets and liabilities(c) | 31 | — | — | — | — | — | — | — |
| Nuclear fuel(d) | 992 | — | — | — | — | — | — | — |
| ARO accretion(e) | 514 | — | — | — | — | — | — | — |
| Total depreciation, amortization, and accretion | $7,573 | $1,205 | $348 | $591 | $821 | $403 | $210 | $179 |
(b)Included in Depreciation and amortization in the Registrants' Consolidated Statements of Operations and Comprehensive Income.
(c)Included in Electric operating revenues or Purchased power expense in Exelon’s Consolidated Statements of Operations and Comprehensive Income.
(d)Included in Purchased fuel expense in Exelon’s Consolidated Statements of Operations and Comprehensive Income.
(e)Included in Operating and maintenance expense in Exelon's Consolidated Statements of Operations and Comprehensive Income.
| Cash paid (refunded) during the year | ||||||||
|---|---|---|---|---|---|---|---|---|
| Exelon(a) | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| Interest (net of amount capitalized) | $1,616 | $441 | $200 | $171 | $301 | $153 | $69 | $68 |
| Income taxes (net of refunds) | 10 | 11 | (24) | 29 | 21 | 6 | 6 | 9 |
| Interest (net of amount capitalized) | $1,434 | $396 | $166 | $147 | $274 | $141 | $63 | $60 |
| Income taxes (net of refunds) | 73 | 23 | 31 | 16 | 19 | 28 | (2) | (6) |
| Interest (net of amount capitalized) | $1,505 | $372 | $152 | $134 | $255 | $132 | $59 | $56 |
| Income taxes (net of refunds) | 281 | (72) | (4) | (38) | — | 12 | (9) | 2 |
| Other non-cash operating activities | ||||||||
|---|---|---|---|---|---|---|---|---|
| Exelon(a) | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| Pension and OPEB costs (benefit) | $198 | $26 | $(14) | $56 | $99 | $34 | $18 | $13 |
| Allowance for credit losses | 125 | 4 | 45 | 16 | 60 | 33 | 10 | 17 |
| True-up adjustments to decoupling mechanisms and formula rates(b) | (708) | (556) | 7 | (84) | (77) | (22) | (21) | (34) |
| Amortization of operating ROU asset | 39 | 2 | — | 5 | 28 | 6 | 8 | 3 |
| Change in environmental liabilities | 37 | — | — | — | 37 | 37 | — | — |
| AFUDC - Equity | (151) | (33) | (31) | (16) | (71) | (54) | (10) | (7) |
| Pension and OPEB costs (benefit) | $164 | $60 | $(9) | $44 | $53 | $9 | $3 | $12 |
| Allowance for credit losses | 173 | 46 | 45 | 25 | 58 | 29 | 12 | 16 |
| Other decommissioning-related activity | 36 | — | — | — | — | — | — | — |
| Energy-related options | 60 | — | — | — | — | — | — | — |
| True-up adjustments to decoupling mechanisms and formula rates(b) | (168) | (267) | (2) | 47 | 54 | 31 | 7 | 16 |
| Long-term incentive plan | 42 | — | — | — | — | — | — | — |
| Amortization of operating ROU asset | 56 | 2 | — | 14 | 27 | 7 | 8 | 3 |
| AFUDC - Equity | (150) | (35) | (31) | (21) | (63) | (48) | (7) | (8) |
| Pension and OPEB costs | $411 | $129 | $8 | $61 | $49 | $6 | $2 | $11 |
| Allowance for credit losses | 160 | 47 | 39 | 17 | 24 | 9 | 5 | 10 |
| Other decommissioning-related activity | (946) | — | — | — | — | — | — | — |
| Energy-related options | 125 | — | — | — | — | — | — | — |
| True-up adjustments to decoupling mechanisms and formula rates(b) | (171) | (42) | (26) | (12) | (91) | (53) | (14) | (24) |
| Severance costs | (57) | 2 | — | — | 1 | — | — | — |
| Long-term incentive plan | 137 | — | — | — | — | — | — | — |
| Amortization of operating ROU Asset | 183 | 1 | — | 29 | 28 | 6 | 8 | 4 |
| AFUDC - Equity | (136) | (34) | (26) | (27) | (49) | (40) | (6) | (3) |
(b)For ComEd, reflects the true-up adjustments in Regulatory assets and liabilities associated with its distribution, energy efficiency, distributed generation, and transmission formula rates. For PECO, reflects the change in Regulatory assets and liabilities associated with its transmission formula rate. For BGE, Pepco, DPL, and ACE, reflects the change in Regulatory assets and liabilities associated with their decoupling mechanisms and transmission formula rates. See Note 3 — Regulatory Matters for additional information.
The following tables provide a reconciliation of cash, restricted cash, and cash equivalents reported within the Registrants' Consolidated Balance Sheets that sum to the total of the same amounts in their Consolidated Statements of Cash Flows.
| Cash, restricted cash, and cash equivalents | ||||||||
|---|---|---|---|---|---|---|---|---|
| Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| Cash and cash equivalents | $445 | $110 | $42 | $47 | $180 | $48 | $16 | $21 |
| Restricted cash and cash equivalents | 482 | 402 | 9 | 1 | 24 | 24 | — | — |
| Restricted cash included in Other deferred debits and other assets | 174 | 174 | — | — | — | — | — | — |
| Total cash, restricted cash, and cash equivalents | $1,101 | $686 | $51 | $48 | $204 | $72 | $16 | $21 |
| Cash and cash equivalents | $407 | $67 | $59 | $43 | $198 | $45 | $31 | $72 |
| Restricted cash and cash equivalents | 566 | 327 | 9 | 24 | 175 | 54 | 121 | — |
| Restricted cash included in Other deferred debits and other assets | 117 | 117 | — | — | — | — | — | — |
| Total cash, restricted cash, and cash equivalents | $1,090 | $511 | $68 | $67 | $373 | $99 | $152 | $72 |
| Cash and cash equivalents | $672 | $131 | $36 | $51 | $136 | $34 | $28 | $29 |
| Restricted cash and cash equivalents | 321 | 210 | 8 | 4 | 77 | 34 | 43 | — |
| Restricted cash included in Other deferred debits and other assets | 44 | 43 | — | — | — | — | — | — |
| Cash, restricted cash, and cash equivalents included in current assets of discontinued operations | 582 | — | — | — | — | — | — | — |
| Total cash, restricted cash, and cash equivalents | $1,619 | $384 | $44 | $55 | $213 | $68 | $71 | $29 |
| Cash and cash equivalents | $432 | $83 | $19 | $144 | $111 | $30 | $15 | $17 |
| Restricted cash and cash equivalents | 349 | 279 | 7 | 1 | 39 | 35 | — | 3 |
| Restricted cash included in Other deferred debits and other assets | 53 | 43 | — | — | 10 | — | — | 10 |
| Cash, restricted cash, and cash equivalents included in current assets of discontinued operations | 332 | — | — | — | — | — | — | — |
| Total cash, restricted cash, and cash equivalents | $1,166 | $405 | $26 | $145 | $160 | $65 | $15 | $30 |
For additional information on restricted cash, see Note 1 — Significant Accounting Policies.
Supplemental Balance Sheet Information
The following tables provide additional information about material items recorded in the Registrants' Consolidated Balance Sheets.
| Investments | ||||||
|---|---|---|---|---|---|---|
| Exelon | ComEd | PECO | BGE | PHI | Pepco | |
| Rabbi trust investments(a) | $231 | $— | $28 | $9 | $142 | $124 |
| Equity method investments | 15 | 6 | 7 | — | 1 | — |
| Other investments | 5 | — | — | — | — | — |
| Total investments | $251 | $6 | $35 | $9 | $143 | $124 |
| Rabbi trust investments(a) | $216 | $— | $22 | $7 | $138 | $119 |
| Equity method investments | $16 | $6 | $8 | $— | $— | $— |
| Total investments | $232 | $6 | $30 | $7 | $138 | $119 |
(a)The Registrants’ debt and equity security investments and life insurance contracts are recorded at fair market value.
| Accrued expenses | ||||||||
|---|---|---|---|---|---|---|---|---|
| Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| Compensation-related accruals(a) | $661 | $206 | $87 | $81 | $107 | $27 | $17 | $12 |
| Taxes accrued | 221 | 204 | 96 | 75 | 137 | 116 | 30 | 10 |
| Interest accrued | 414 | 148 | 49 | 44 | 72 | 38 | 13 | 15 |
| Compensation-related accruals(a) | $613 | $179 | $81 | $79 | $104 | $29 | $20 | $16 |
| Taxes accrued | 211 | 92 | 10 | 34 | 70 | 52 | 8 | 12 |
| Interest accrued | 338 | 124 | 47 | 42 | 61 | 32 | 9 | 14 |
(a)Primarily includes accrued payroll, bonuses and other incentives, vacation, and benefits.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.