EXELON CORP
For the period ended Dec 31, 2024. Filed Feb 12, 2025.
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FY2024 · Filed Feb 12, 2025
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6. Accounts Receivable
- Accounts Receivable (All Registrants)
Allowance for Credit Losses on Accounts Receivable
The following tables present the rollforward of Allowance for Credit Losses on Customer Accounts Receivable.
| Year Ended December 31, 2024 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| Balance at December 31, 2023 | $317 | $69 | $95 | $46 | $107 | $52 | $19 | $36 |
| Plus: Current period provision for expected credit losses(a)(b) | 248 | 78 | 72 | 37 | 61 | 39 | 10 | 12 |
| Less: Write-offs(c)(d)(e), net of recoveries(f) | 159 | 38 | 34 | 27 | 60 | 32 | 12 | 16 |
| Balance at December 31, 2024 | $406 | $109 | $133 | $56 | $108 | $59 | $17 | $32 |
| Year Ended December 31, 2023 | ||||||||
| Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| Balance at December 31, 2022 | $327 | $59 | $105 | $54 | $109 | $47 | $21 | $41 |
| Plus: Current period provision for expected credit losses | 170 | 53 | 48 | 26 | 43 | 23 | 9 | 11 |
| Less: Write-offs, net of recoveries | 180 | 43 | 58 | 34 | 45 | 18 | 11 | 16 |
| Balance at December 31, 2023 | $317 | $69 | $95 | $46 | $107 | $52 | $19 | $36 |
(a)For PECO and ComEd, the increase is primarily a result of increased aging of receivables.
(b)For BGE and Pepco, the increase is primarily a result of changes in customer risk profile and increased receivable balances.
(c)For PECO, the decrease is primarily a result of decreased disconnection activities.
(d)For BGE, the decrease is primarily a result of increased collection activities.
(e)For Pepco, the increase is primarily attributable to unfavorable customer payment behavior.
(f)Recoveries were not material to the Registrants.
Note 6 — Accounts Receivable
The following tables present the rollforward of Allowance for Credit Losses on Other Accounts Receivable.
| Year Ended December 31, 2024 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| Balance at December 31, 2023 | $82 | $17 | $8 | $7 | $50 | $28 | $8 | $14 |
| Plus: Current period provision (benefit) for expected credit losses(a)(b) | 45 | 21 | 15 | 6 | 3 | (1) | 1 | 3 |
| Less: Write-offs, net of recoveries(c) | 20 | 4 | 5 | 7 | 4 | — | — | 4 |
| Balance at December 31, 2024 | $107 | $34 | $18 | $6 | $49 | $27 | $9 | $13 |
| Year Ended December 31, 2023 | ||||||||
| Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| Balance at December 31, 2022 | $82 | $17 | $9 | $10 | $46 | $25 | $7 | $14 |
| Plus: Current period provision for expected credit losses | 21 | 5 | 4 | 5 | 7 | 3 | 1 | 3 |
| Less: Write-offs, net of recoveries | 21 | 5 | 5 | 8 | 3 | — | — | 3 |
| Balance at December 31, 2023 | $82 | $17 | $8 | $7 | $50 | $28 | $8 | $14 |
(a)For PECO and ComEd, the increase is primarily a result of increased aging of receivables.
(b)For Pepco, the decrease is primarily a result of decreased aging of receivables.
(c)Recoveries were not material to the Registrants.
Unbilled Customer Revenue
The following table provides additional information about unbilled customer revenues recorded in the Registrants' Consolidated Balance Sheets as of December 31, 2024 and 2023.
| Unbilled customer revenues(a) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| December 31, 2024 | $1,114 | $335 | $254 | $257 | $268 | $121 | $76 | $71 |
| December 31, 2023 | 991 | 351 | 185 | 208 | 247 | 109 | 64 | 74 |
(a)Unbilled customer revenues are classified in Customer accounts receivables, net in the Registrants' Consolidated Balance Sheets.
Other Purchases of Customer and Other Accounts Receivables
For the twelve months ended December 31, 2024 and 2023, the Utility Registrants were required, under separate legislation and regulations in Illinois, Pennsylvania, Maryland, District of Columbia, and New Jersey, to purchase certain receivables from alternative retail electric and, as applicable, natural gas suppliers that participated in the utilities' consolidated billing. The following table presents the total receivables purchased.
| Total receivables purchased | ||||||||
|---|---|---|---|---|---|---|---|---|
| Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| Year ended December 31, 2024 | $4,128 | $964 | $1,111 | $778 | $1,275 | $799 | $252 | $224 |
| Year ended December 31, 2023 | 4,056 | 942 | 1,099 | 804 | 1,211 | 782 | 228 | 201 |
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