0001109357-23-000018 | 10-K | XBRL Viewer

Shareholders' Equity (All Registrants) [Text Block]

Shareholders' Equity (All Registrants)

Equity Securities Offering (Exelon)

On August 4, 2022, Exelon entered into an agreement with certain underwriters in connection with an underwritten public offering (the “Offering”) of 11.3 million shares (the “Shares”) of its common stock, no par value (“Common Stock”). The Shares were sold to the underwriters at a price per share of $43.32. Exelon also granted the underwriters an option to purchase an additional 1.695 million shares of Common Stock also at the price per share of $43.32. On August 5, 2022, the underwriters exercised the option in full. The net proceeds from the Offering and the exercise of the underwriters’ option were $563 million before expenses paid by Exelon. Exelon used the proceeds, together with available cash balances, to repay $575 million in borrowings under a $1.15 billion term loan credit facility. See Note 16 — Debt and Credit Agreements for additional information on Exelon’s term loan.

At-the-Market (ATM) Program (Exelon)

On August 4, 2022, Exelon executed an equity distribution agreement (“Equity Distribution Agreement”), with certain sales agents and forward sellers and certain forward purchasers, establishing an ATM equity distribution program under which it may offer and sell shares of its Common Stock, having an aggregate gross sales price of up to $1.0 billion. Exelon has no obligation to offer or sell any shares of Common Stock under the Equity Distribution Agreement and may, at any time, suspend or terminate offers and sales under the Equity Distribution Agreement. As of December 31, 2022, Exelon has not issued any shares of Common Stock under the ATM program and has not entered into any forward sale agreements.

ComEd Common Stock Warrants

The following table presents warrants outstanding to purchase ComEd common stock and shares of common stock reserved for the conversion of warrants. The warrants entitle the holders to convert such warrants into common stock of ComEd at a conversion rate of one share of common stock for three warrants.


	December 31,
	2022	2021
Warrants outstanding	60,052	60,061
Common Stock reserved for conversion	20,017	20,020

Share Repurchases

There currently is no Exelon Board of Director authority to repurchase shares. Any previous shares repurchased are held as treasury shares, at cost, unless cancelled or reissued at the discretion of Exelon’s management.

Preferred and Preference Securities

The following table presents Exelon, ComEd, PECO, BGE, Pepco, and ACE's shares of preferred securities authorized, none of which were outstanding, as of December 31, 2022 and 2021. There are no shares of preferred securities authorized for DPL.


			Preferred Securities Authorized
Exelon			100,000,000
ComEd			850,000
PECO			15,000,000
BGE			1,000,000
Pepco			6,000,000
ACE(a)			2,799,979

_________

(a)Includes 799,979 shares of cumulative preferred stock and 2,000,000 of no-par preferred stock as of December 31, 2022 and 2021.

The following table presents ComEd's, BGE's, and ACE's preference securities authorized, none of which were outstanding as of December 31, 2022 and 2021. There are no shares of preference securities authorized for Exelon, PECO, Pepco, and DPL.


			Preference Securities Authorized
ComEd			6,810,451
BGE(a)			6,500,000
ACE			3,000,000

__________

(a)Includes 4,600,000 shares of unclassified preference securities and 1,900,000 shares of previously redeemed preference securities as of December 31, 2022 and 2021.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Asset Retirement Obligation Disclosure [Abstract]

Changes in Accumulated Other Comprehensive Income - Schedule of Changes in AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	$ 34,795	$ 34,868	$ 34,573
Other Comprehensive Income (Loss), Net of Tax	89	650	(206)
Ending Balance	24,744	34,795	34,868
Cash Flow Hedges
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(6)	(5)	(2)
OCI before reclassifications	2	(1)	(3)
Amounts reclassified from AOCI	0	0	0
Other Comprehensive Income (Loss), Net of Tax	2	(1)	(3)
Ending Balance	2	(6)	(5)
Cash Flow Hedges \| Exelon Generation Co L L C [Member]
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	6
Pension and Non-Pension Postretirement Benefit Plan Items (a)
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(2,721)	(3,372)	(3,165)
OCI before reclassifications	46	432	(357)
Amounts reclassified from AOCI	41	219	150
Other Comprehensive Income (Loss), Net of Tax	87	651	(207)
Ending Balance	(640)	(2,721)	(3,372)
Pension and Non-Pension Postretirement Benefit Plan Items (a) \| Exelon Generation Co L L C [Member]
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	1,994
Foreign Currency Items
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(23)	(23)	(27)
OCI before reclassifications	0	0	4
Amounts reclassified from AOCI	0	0	0
Other Comprehensive Income (Loss), Net of Tax	0	0	4
Ending Balance	0	(23)	(23)
Foreign Currency Items \| Exelon Generation Co L L C [Member]
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	23
Total
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(2,750)	(3,400)	(3,194)
OCI before reclassifications	48	431	(356)
Amounts reclassified from AOCI	41	219	150
Other Comprehensive Income (Loss), Net of Tax	89	650	(206)
Ending Balance	(638)	$ (2,750)	$ (3,400)
Total \| Exelon Generation Co L L C [Member]
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	$ 2,023

Schedule I - Condensed Financial Information of Parent (Exelon Corporate) - Debt and Credit Agreements - Schedule of Outstanding Long-term Debt (Details) - USD ($) $ in Millions	Jan. 24, 2022	Jan. 21, 2022	Dec. 31, 2022	Jan. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt, gross			$ 36,779		$ 32,523
Unamortized debt discount and premium, net			74		70
Unamortized debt issuance costs			(257)		(220)
Long-term debt (including amounts due within one year)			626		669
Long-term Debt, Current Maturities			(1,802)		(2,153)
Long-term debt			35,272		30,749
Exelon Corporate [Member] \| Exelon Generation Co L L C [Member]
Debt Instrument [Line Items]
Due from Affiliate, Noncurrent			0	$ 258	319
Junior subordinated notes [Member]
Debt Instrument [Line Items]
Long-term debt, gross			0		1,150
Senior unsecured notes [Member]
Debt Instrument [Line Items]
Long-term debt, gross			8,324		6,324
Loan agreement [Member]
Debt Instrument [Line Items]
Long-term debt, gross			$ 1,400		50
Minimum [Member] \| Senior unsecured notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			2.75%
Long-term Debt, Maturity Date			Dec. 31, 2025
Minimum [Member] \| Loan agreement [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			2.00%
Long-term Debt, Maturity Date			Dec. 31, 2023
Maximum [Member] \| Junior subordinated notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			3.50%
Long-term Debt, Maturity Date			Dec. 31, 2022
Maximum [Member] \| Senior unsecured notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			7.60%
Long-term Debt, Maturity Date			Dec. 31, 2052
Maximum [Member] \| Loan agreement [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			5.15%
Long-term Debt, Maturity Date			Dec. 31, 2024
Corporate, Non-Segment [Member]
Debt Instrument [Line Items]
Long-term debt, gross			$ 9,489		7,289
Unamortized debt discount and premium, net			(10)		(10)
Unamortized debt issuance costs			(51)		(39)
Long-term debt (including amounts due within one year)			164		175
Long-term Debt, Current Maturities			(850)		(1,150)
Long-term debt			8,742		6,265
Due from Affiliate, Noncurrent			0		319
Corporate, Non-Segment [Member] \| Junior subordinated notes [Member]
Debt Instrument [Line Items]
Long-term debt, gross			0		1,150
Corporate, Non-Segment [Member] \| Senior unsecured notes [Member]
Debt Instrument [Line Items]
Long-term debt, gross			8,139		6,139
Corporate, Non-Segment [Member] \| Loan agreement [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 300	$ 1,350		$ 0
Corporate, Non-Segment [Member] \| Loan agreement [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Subordinated Borrowing, Interest Rate		0.65%
Corporate, Non-Segment [Member] \| Loans Payable Two \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Subordinated Borrowing, Interest Rate		0.65%
Corporate, Non-Segment [Member] \| Loans Payable Three
Debt Instrument [Line Items]
Long-term debt, gross	$ 250
Corporate, Non-Segment [Member] \| Loans Payable Three \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Subordinated Borrowing, Interest Rate	0.65%
Corporate, Non-Segment [Member] \| Minimum [Member] \| Senior unsecured notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			2.75%
Long-term Debt, Maturity Date			Dec. 31, 2025
Corporate, Non-Segment [Member] \| Minimum [Member] \| Loan agreement [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			4.95%
Long-term Debt, Maturity Date			Dec. 31, 2023
Corporate, Non-Segment [Member] \| Maximum [Member] \| Junior subordinated notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			3.50%
Long-term Debt, Maturity Date			Dec. 31, 2022
Corporate, Non-Segment [Member] \| Maximum [Member] \| Senior unsecured notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			7.60%
Long-term Debt, Maturity Date			Dec. 31, 2052
Corporate, Non-Segment [Member] \| Maximum [Member] \| Loan agreement [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			5.15%
Long-term Debt, Maturity Date			Dec. 31, 2024

Shareholders' Equity - Schedule of Preference Stock (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Preference Stock, Shares Authorized	0
Commonwealth Edison Co [Member]
Class of Stock [Line Items]
Preference Stock, Shares Outstanding	0	0
Preference Stock, Shares Authorized	6,810,451	6,810,451
Baltimore Gas and Electric Company [Member]
Class of Stock [Line Items]
Preference Stock, Shares Outstanding	0	0
Preference Stock, Shares Authorized	6,500,000	6,500,000
Atlantic City Electric Company [Member]
Class of Stock [Line Items]
Preference Stock, Shares Outstanding	0	0
Preference Stock, Shares Authorized	3,000,000	3,000,000
PECO Energy Co [Member]
Class of Stock [Line Items]
Preference Stock, Shares Authorized	0
Potomac Electric Power Company [Member]
Class of Stock [Line Items]
Preference Stock, Shares Authorized	0
Delmarva Power & Light Company [Member]
Class of Stock [Line Items]
Preference Stock, Shares Authorized	0
Unclassified Preference Stock [Member] \| Baltimore Gas and Electric Company [Member]
Class of Stock [Line Items]
Preference Stock, Shares Authorized	4,600,000	4,600,000
Preference Stock Redeemed [Member] \| Baltimore Gas and Electric Company [Member]
Class of Stock [Line Items]
Preference Stock, Shares Authorized	1,900,000	1,900,000

Asset Retirement Obligations (All Registrants)

12 Months Ended

Dec. 31, 2022

Asset Retirement Obligations (All Registrants)

The Registrants have AROs primarily associated with the abatement and disposal of equipment and buildings contaminated with asbestos and PCBs. See Note 1 — Significant Accounting Policies for additional information on the Registrants’ accounting policy for AROs.

The following table provides a rollforward of the AROs reflected in the Registrants’ Consolidated Balance Sheets from December 31, 2020 to December 31, 2022:


	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
AROs as of December 31, 2020	$	249	$	129	$	29	$	23	$	59	$	39	$	14	$	6
Net increase due to changes in, and timing of, estimated future cash flows	26		15		—		2		10		5		2		3

Accretion expense(a)	7		4		1		1		1		1		—		—

Payments	(8)		(2)		(1)		—		—		—		—		—
AROs as of December 31, 2021	274		146		29		26		70		45		16		9
Net (decrease) increase due to changes in, and timing of, estimated future cash flows	(8)		2		(1)		3		(13)		(8)		(3)		(2)

Accretion expense(a)	8		4		1		1		2		2		—		—

Payments	(3)		(2)		(1)		—		—		—		—		—
AROs as of December 31, 2022	$	271	$	150	$	28	$	30	$	59	$	39	$	13	$	7

__________

(a)For ComEd, PECO, BGE, PHI, DPL and ACE, the majority of the accretion is recorded as an increase to a regulatory asset due to the associated regulatory treatment.

Asset Impairments - Narrative (Details) $ in Millions	12 Months Ended
Asset Impairments - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)
Property, Plant and Equipment [Line Items]
Asset Impairment Charges	$ 48
Baltimore Gas and Electric Company [Member]
Property, Plant and Equipment [Line Items]
Asset Impairment Charges	$ 48

Stock-Based Compensation Plans - Summary of Weighted Average Fair Value (Details) - Performance Shares [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Weighted Average Grant Date Fair Value (in usd per share)	$ 43.05	$ 43.37	$ 46.61
Fair Value Of Settled Performance Share Awards	$ 29	$ 44	$ 39
Performance Share Awards Obligations Settled In Cash	25	$ 28	$ 63
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	$ 12
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 9 months 18 days

Retirement Benefits - Gross Accumulated Other Comprehensive Loss and Regulatory Assets (Liabilities) not Recognized as Components of Periodic Benefit Cost (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Pension Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Prior service cost (credit)	$ 19	$ 32
Actuarial loss (gain)	3,611	6,752
Total	3,630	6,784
Benefits included in accumulated other comprehensive income	873	3,592
Benefits included in regulatory assets (liabilities)	2,757	3,192
Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Prior service cost (credit)	(55)	(111)
Actuarial loss (gain)	(133)	230
Total	(188)	119
Benefits included in accumulated other comprehensive income	(21)	53
Benefits included in regulatory assets (liabilities)	$ (167)	$ 66

Derivative Financial Instruments - Narrative (Details) MWh in Millions, $ in Millions	1 Months Ended
	Jun. 30, 2012 MWh	Feb. 14, 2023 USD ($)	Jan. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Derivative [Line Items]
Derivative, Notional Amount				$ 3,434	$ 3,481
Accumulated other comprehensive loss, net				(638)	(2,750)
Other				1,155	766
Commonwealth Edison Co [Member]
Derivative [Line Items]
Long-term Purchase Commitment, Minimum Energy Volume Required \| MWh	1.3
Other				191	133
PECO Energy Co [Member]
Derivative [Line Items]
Other				32	35
Incremental collateral for loss of investment grade credit rating				71
Baltimore Gas and Electric Company [Member]
Derivative [Line Items]
Other				55	48
Incremental collateral for loss of investment grade credit rating				119
Pepco Holdings LLC [Member]
Derivative [Line Items]
Other				330	171
Potomac Electric Power Company [Member]
Derivative [Line Items]
Other				93	55
Delmarva Power & Light Company [Member]
Derivative [Line Items]
Other				136	59
Incremental collateral for loss of investment grade credit rating				15
Atlantic City Electric Company [Member]
Derivative [Line Items]
Other				58	12
InterestRateSwapNotional5YR \| Cash Flow Hedging
Derivative [Line Items]
Derivative, Notional Amount				635
InterestRateSwapNotional5YR \| Cash Flow Hedging \| Subsequent Event [Member]
Derivative [Line Items]
Derivative, Notional Amount			$ 115
InterestRateSwapNotional10YR \| Cash Flow Hedging
Derivative [Line Items]
Derivative, Notional Amount				635
InterestRateSwapNotional10YR \| Cash Flow Hedging \| Subsequent Event [Member]
Derivative [Line Items]
Derivative, Notional Amount			115
Interest Rate Swap [Member] \| Cash Flow Hedging
Derivative [Line Items]
Derivative, Notional Amount				1,270	0
Accumulated other comprehensive loss, net				2
Interest Rate Swap [Member] \| Cash Flow Hedging \| Subsequent Event [Member]
Derivative [Line Items]
Derivative, Notional Amount			230
InterestRateCap18month \| Not Designated as Hedging Instrument, Economic Hedge [Member]
Derivative [Line Items]
Derivative, Notional Amount				1,000
InterestRateCapNotional6month \| Not Designated as Hedging Instrument, Economic Hedge [Member]
Derivative [Line Items]
Derivative, Notional Amount				850
Interest Rate Cap \| Not Designated as Hedging Instrument, Economic Hedge [Member]
Derivative [Line Items]
Derivative, Notional Amount				1,850	0
Constant Maturity Treasury Interest Rate Swaps \| Not Designated as Hedging Instrument, Economic Hedge [Member]
Derivative [Line Items]
Derivative, Notional Amount				500	0
Constant Maturity Treasury Interest Rate Swaps \| Not Designated as Hedging Instrument, Economic Hedge [Member] \| Subsequent Event [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 1,500
Constant Maturity Treasury Interest Rate Swaps Through Report Date \| Not Designated as Hedging Instrument, Economic Hedge [Member] \| Subsequent Event [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 2,000
Commodity Contract [Member] \| External Counterparties \| Collateral [Member]
Derivative [Line Items]
Other				297
Commodity Contract [Member] \| Commonwealth Edison Co [Member] \| External Counterparties \| Collateral [Member]
Derivative [Line Items]
Other				77	41
Commodity Contract [Member] \| Baltimore Gas and Electric Company [Member] \| External Counterparties \| Collateral [Member]
Derivative [Line Items]
Other				23
Commodity Contract [Member] \| Pepco Holdings LLC [Member] \| External Counterparties \| Collateral [Member]
Derivative [Line Items]
Other				197
Commodity Contract [Member] \| Potomac Electric Power Company [Member] \| External Counterparties \| Collateral [Member]
Derivative [Line Items]
Other				26
Commodity Contract [Member] \| Delmarva Power & Light Company [Member] \| External Counterparties \| Collateral [Member]
Derivative [Line Items]
Other				121	$ 43
Commodity Contract [Member] \| Atlantic City Electric Company [Member] \| External Counterparties \| Collateral [Member]
Derivative [Line Items]
Other				$ 50
InterestRateSwap-Through Report Date \| Cash Flow Hedging \| Subsequent Event [Member]
Derivative [Line Items]
Derivative, Notional Amount			$ 1,500

Related Party Transactions - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Related Party Transactions [Abstract]
Exelon Foundation Charitable Contribution	$ 20

Intangible Assets Intangible Assets - Summary of Amortization Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization expense	$ (182)	$ (83)	$ (98)
Pepco Holdings LLC [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization expense	$ (190)	$ (92)	$ (115)

Segment Information (All Registrants)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information (All Registrants)

Operating segments for each of the Registrants are determined based on information used by the CODMs in deciding how to evaluate performance and allocate resources at each of the Registrants.

Exelon has six reportable segments, which include ComEd, PECO, BGE, and PHI's three reportable segments consisting of Pepco, DPL, and ACE. ComEd, PECO, BGE, Pepco, DPL, and ACE each represent a single reportable segment, and as such, no separate segment information is provided for these Registrants. Exelon, ComEd, PECO, BGE, Pepco, DPL, and ACE's CODMs evaluate the performance of and allocate resources to ComEd, PECO, BGE, Pepco, DPL, and ACE based on net income.

The separation of Constellation Energy Corporation, including Generation and its subsidiaries, meets the criteria for discontinued operations and as such, results of operations are presented as discontinued operations and have been excluded from continuing operations for all periods presented. Furthermore, the reportable segment information related to the discontinued operations has been excluded from the tables presented below. See Note 2 — Discontinued Operations for additional information.

An analysis and reconciliation of the Registrants' reportable segment information to the respective information in the consolidated financial statements for the years ended December 31, 2022, 2021, and 2020 is as follows:



	ComEd		PECO		BGE		PHI		Other(a)		Intersegment Eliminations		Exelon
Operating revenues(b):
2022
Electric revenues	$	5,761	$	3,165	$	2,871	$	5,317	$	—	$	(31)	$	17,083
Natural gas revenues	—		738		1,024		238		—		(5)		1,995
Shared service and other revenues	—		—		—		10		1,823		(1,833)		—
Total operating revenues	$	5,761	$	3,903	$	3,895	$	5,565	$	1,823	$	(1,869)	$	19,078
2021
Electric revenues	$	6,406	$	2,659	$	2,505	$	4,860	$	—	$	(35)	$	16,395
Natural gas revenues	—		539		836		168		—		—		1,543
Shared service and other revenues	—		—		—		13		2,213		(2,226)		—
Total operating revenues	$	6,406	$	3,198	$	3,341	$	5,041	$	2,213	$	(2,261)	$	17,938
2020
Electric revenues	$	5,904	$	2,543	$	2,336	$	4,485	$	—	$	(44)	$	15,224
Natural gas revenues	—		515		762		162		—		—		1,439
Shared service and other revenues	—		—		—		16		2,035		(2,051)		—
Total operating revenues	$	5,904	$	3,058	$	3,098	$	4,663	$	2,035	$	(2,095)	$	16,663

Intersegment revenues(c):
2022	$	16	$	7	$	15	$	10	$	1,823	$	(1,865)	$	6
2021	41		21		31		13		2,203		(2,252)		57
2020	37		9		20		17		2,024		(2,084)		23
Depreciation and amortization:
2022	$	1,323	$	373	$	630	$	938	$	61	$	—	$	3,325
2021	1,205		348		591		821		67		1		3,033
2020	1,133		347		550		782		79		—		2,891
Operating expenses:
2022	$	4,218	$	3,102	$	3,376	$	4,734	$	2,093	$	(1,762)	$	15,761
2021	5,151		2,547		2,860		4,240		2,045		(1,587)		15,256
2020	4,950		2,512		2,598		4,045		1,882		(1,502)		14,485
Interest expense, net:
2022	$	414	$	177	$	152	$	292	$	415	$	(3)	$	1,447
2021	389		161		138		267		335		(1)		1,289
2020	382		147		133		268		380		(3)		1,307





Income taxes:
2022	$	264	$	79	$	8	$	9	$	—	$	(11)	$	349
2021	172		12		(35)		42		8		(161)		38
2020	177		(30)		41		(77)		35		(153)		(7)
Net income (loss) from continuing operations:
2022	$	917	$	576	$	380	$	608	$	(393)	$	(34)	$	2,054
2021	742		504		408		561		(156)		(443)		1,616
2020	438		447		349		495		(184)		(446)		1,099
Capital expenditures:
2022	$	2,506	$	1,349	$	1,262	$	1,709	$	95	$	—	$	6,921
2021	2,387		1,240		1,226		1,720		67		—		6,640
2020	2,217		1,147		1,247		1,604		74		—		6,289
Total assets:
2022	$	39,661	$	14,502	$	13,350	$	26,082	$	6,014	$	(4,260)	$	95,349
2021	36,470		13,824		12,324		24,744		7,626		(8,319)		86,669

__________

(a)Other primarily includes Exelon’s corporate operations, shared service entities, and other financing and investment activities.

(b)Includes gross utility tax receipts from customers. The offsetting remittance of utility taxes to the governing bodies is recorded in expenses in the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 22 — Supplemental Financial Information for additional information on total utility taxes.

(c)See Note 23 — Related Party Transactions for additional information on intersegment revenues.

PHI:


	Pepco		DPL		ACE		Other(a)		Intersegment Eliminations		PHI
Operating revenues(b):
2022
Electric revenues	$	2,531	$	1,357	$	1,431	$	—	$	(2)	$	5,317
Natural gas revenues	—		238		—		—		—		238
Shared service and other revenues	—		—		—		391		(381)		10
Total operating revenues	$	2,531	$	1,595	$	1,431	$	391	$	(383)	$	5,565
2021
Electric revenues	$	2,274	$	1,212	$	1,388	$	—	$	(14)	$	4,860
Natural gas revenues	—		168		—		—		—		168
Shared service and other revenues	—		—		—		379		(366)		13
Total operating revenues	$	2,274	$	1,380	$	1,388	$	379	$	(380)	$	5,041
2020
Electric revenues	$	2,149	$	1,109	$	1,245	$	—	$	(18)	$	4,485
Natural gas revenues	—		162		—		—		—		162
Shared service and other revenues	—		—		—		372		(356)		16
Total operating revenues	$	2,149	$	1,271	$	1,245	$	372	$	(374)	$	4,663
Intersegment revenues(c):
2022	$	5	$	6	$	2	$	380	$	(383)	$	10
2021	5		7		2		380		(381)		13
2020	7		9		4		372		(375)		17
Depreciation and amortization:
2022	$	417	$	232	$	261	$	28	$	—	$	938
2021	403		210		179		29		—		821
2020	377		191		180		34		—		782
Operating expenses:
2022	$	2,140	$	1,359	$	1,225	$	393	$	(383)	$	4,734
2021	1,871		1,161		1,201		388		(381)		4,240
2020	1,799		1,120		1,123		378		(375)		4,045
Interest expense, net:
2022	$	150	$	66	$	66	$	9	$	1	$	292
2021	140		61		58		8		—		267
2020	138		61		59		10		—		268




Income taxes:
2022	$	(9)	$	14	$	3	$	1	$	—	$	9
2021	15		42		(13)		(2)		—		42
2020	(7)		(25)		(41)		(4)		—		(77)
Net income (loss):
2022	$	305	$	169	$	148	$	(14)	$	—	$	608
2021	296		128		146		(9)		—		561
2020	266		125		112		(8)		—		495
Capital expenditures:
2022	$	874	$	430	$	398	$	7	$	—	$	1,709
2021	843		429		445		3		—		1,720
2020	773		424		401		6		—		1,604
Total assets:
2022	$	10,657	$	5,802	$	4,979	$	4,677	$	(33)	$	26,082
2021	9,903		5,412		4,556		4,933		(60)		24,744

__________

(a)Other primarily includes PHI’s corporate operations, shared service entities, and other financing and investment activities.

(c)Includes intersegment revenues with ComEd, BGE, and PECO, which are eliminated at Exelon.

The following tables disaggregate the Registrants' revenues recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. For the Utility Registrants, the disaggregation of revenues reflects the two primary utility services of electric sales and natural gas sales (where applicable), with further disaggregation of these tariff sales provided by major customer groups. Exelon's disaggregated revenues are consistent with the Utility Registrants, but exclude any intercompany revenues.


	2022

Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	3,304	$	2,026	$	1,564	$	2,590	$	1,076	$	750	$	764
Small commercial & industrial	1,173		521		327		607		155		235		217
Large commercial & industrial	5		299		567		1,422		1,083		137		202
Public authorities & electric railroads	29		30		27		64		34		15		15
Other(a)	955		271		398		695		208		227		252
Total electric revenues(b)	$	5,466	$	3,147	$	2,883	$	5,378	$	2,556	$	1,364	$	1,450
Natural gas revenues
Residential	$	—	$	512	$	678	$	127	$	—	$	127	$	—
Small commercial & industrial	—		186		111		55		—		55		—
Large commercial & industrial	—		—		183		12		—		12		—
Transportation	—		26		—		15		—		15		—
Other(c)	—		12		68		29		—		29		—
Total natural gas revenues(d)	$	—	$	736	$	1,040	$	238	$	—	$	238	$	—
Total revenues from contracts with customers	$	5,466	$	3,883	$	3,923	$	5,616	$	2,556	$	1,602	$	1,450
Other revenues
Revenues from alternative revenue programs	$	267	$	2	$	(47)	$	(59)	$	(31)	$	(9)	$	(19)
Other electric revenues(e)	28		16		14		8		6		2		—
Other natural gas revenues(e)	—		2		5		—		—		—		—

Total other revenues	$	295	$	20	$	(28)	$	(51)	$	(25)	$	(7)	$	(19)
Total revenues for reportable segments	$	5,761	$	3,903	$	3,895	$	5,565	$	2,531	$	1,595	$	1,431


	2021

Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	3,233	$	1,704	$	1,375	$	2,441	$	1,003	$	694	$	744
Small commercial & industrial	1,571		422		267		521		135		193		193
Large commercial & industrial	559		243		459		1,123		844		94		185
Public authorities & electric railroads	45		31		27		58		31		14		13
Other(a)	926		229		371		634		205		201		229
Total electric revenues(b)	$	6,334	$	2,629	$	2,499	$	4,777	$	2,218	$	1,196	$	1,364
Natural gas revenues
Residential	$	—	$	372	$	518	$	97	$	—	$	97	$	—
Small commercial & industrial	—		136		83		42		—		42		—
Large commercial & industrial	—		—		147		7		—		7		—
Transportation	—		24		—		14		—		14		—
Other(c)	—		7		68		8		—		8		—
Total natural gas revenues(d)	$	—	$	539	$	816	$	168	$	—	$	168	$	—
Total revenues from contracts with customers	$	6,334	$	3,168	$	3,315	$	4,945	$	2,218	$	1,364	$	1,364
Other revenues
Revenues from alternative revenue programs	$	42	$	26	$	12	$	91	$	53	$	14	$	24
Other electric revenues(e)	30		4		11		5		3		2		—
Other natural gas revenues(e)	—		—		3		—		—		—		—

Total other revenues	$	72	$	30	$	26	$	96	$	56	$	16	$	24
Total revenues for reportable segments	$	6,406	$	3,198	$	3,341	$	5,041	$	2,274	$	1,380	$	1,388


	2020
Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	3,090	$	1,656	$	1,345	$	2,332	$	988	$	652	$	692
Small commercial & industrial	1,399		386		241		472		132		171		169
Large commercial & industrial	515		228		406		1,001		736		89		176
Public authorities & electric railroads	45		29		27		60		34		13		13
Other(a)	884		225		309		613		218		190		207
Total electric revenues(b)	$	5,933	$	2,524	$	2,328	$	4,478	$	2,108	$	1,115	$	1,257
Natural gas revenues
Residential	$	—	$	361	$	504	$	96	$	—	$	96	$	—
Small commercial & industrial	—		126		79		42		—		42		—
Large commercial & industrial	—		—		135		4		—		4		—
Transportation	—		24		—		14		—		14		—
Other(c)	—		4		29		6		—		6		—
Total natural gas revenues(d)	$	—	$	515	$	747	$	162	$	—	$	162	$	—
Total revenues from contracts with customers	$	5,933	$	3,039	$	3,075	$	4,640	$	2,108	$	1,277	$	1,257
Other revenues
Revenues from alternative revenue programs	$	(47)	$	16	$	16	$	21	$	40	$	(7)	$	(12)
Other electric revenues(e)	18		3		5		2		1		1		—
Other natural gas revenues(e)	—		—		2		—		—		—		—

Total other revenues	$	(29)	$	19	$	23	$	23	$	41	$	(6)	$	(12)
Total revenues for reportable segments	$	5,904	$	3,058	$	3,098	$	4,663	$	2,149	$	1,271	$	1,245

__________

(a)Includes revenues from transmission revenue from PJM, wholesale electric revenue and mutual assistance revenue.

(b)Includes operating revenues from affiliates in 2022, 2021, and 2020 respectively of:

•$16 million, $41 million, and $37 million at ComEd

•$7 million, $20 million, and $8 million at PECO

•$7 million, $13 million, and $10 million at BGE

•$10 million, $13 million, and $17 million at PHI

•$5 million, $5 million, and $7 million at Pepco

•$6 million, $7 million, and $9 million at DPL

•$2 million, $2 million, and $4 million at ACE

(c)Includes revenues from off-system natural gas sales.

(d)Includes operating revenues from affiliates in 2022, 2021, and 2020 respectively of:

•less than $1 million, $1 million, and $1 million at PECO

•$8 million, $18 million, and $10 million at BGE

(e)Includes late payment charge revenues.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Mar. 24, 2016	Oct. 20, 2000
Goodwill [Line Items]
Goodwill, Gross	$ 8,613	$ 8,613
Accumulated Impairment Loss	1,983	1,983
Carrying amount	6,630	6,630
Commonwealth Edison Co [Member]
Goodwill [Line Items]
Goodwill, Gross	4,608	4,608
Accumulated Impairment Loss	1,983	1,983
Carrying amount	2,625	2,625		$ 2,600
Pepco Holdings LLC [Member]
Goodwill [Line Items]
Goodwill, Gross	4,005	4,005
Accumulated Impairment Loss	0	0
Carrying amount	$ 4,005	$ 4,005	$ 4,000

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

Property, Plant and Equipment [Abstract]

Lessor - Components of Operating Lease Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Operating Lease, Lease Income [Line Items]
Operating Lease Income	$ 4	$ 5	$ 5
Variable Lease Income	1	1	1
Commonwealth Edison Co [Member]
Schedule of Operating Lease, Lease Income [Line Items]
Operating Lease Income	0	0	0
Variable Lease Income	0	0	0
PECO Energy Co [Member]
Schedule of Operating Lease, Lease Income [Line Items]
Operating Lease Income	0	0	0
Variable Lease Income	0	0	0
Baltimore Gas and Electric Company [Member]
Schedule of Operating Lease, Lease Income [Line Items]
Operating Lease Income	0	0	0
Variable Lease Income	0	0	0
Pepco Holdings LLC [Member]
Schedule of Operating Lease, Lease Income [Line Items]
Operating Lease Income	4	4	3
Variable Lease Income	1	1	1
Potomac Electric Power Company [Member]
Schedule of Operating Lease, Lease Income [Line Items]
Operating Lease Income	0	0	0
Variable Lease Income	0	0	0
Delmarva Power & Light Company [Member]
Schedule of Operating Lease, Lease Income [Line Items]
Operating Lease Income	3	3	3
Variable Lease Income	$ 1	$ 1	$ 1

Fair Value of Financial Assets and Liabilities - Fair Value Inputs Assets Quantitative Information (Details) - Derivative [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	$ (84,000,000)	$ (219,000,000)
Minimum [Member] \| Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Inputs Forward Power Price	34.78	28.65
Arithmetic Average [Member] \| Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Inputs Forward Power Price	48.44	33.96
Maximum [Member] \| Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Inputs Forward Power Price	75.71	47.10
Commonwealth Edison Co [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	$ (84,000,000)	$ (219,000,000)
Commonwealth Edison Co [Member] \| Minimum [Member] \| Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Inputs Forward Power Price	34.78	28.65
Commonwealth Edison Co [Member] \| Arithmetic Average [Member] \| Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Inputs Forward Power Price	48.44	33.96
Commonwealth Edison Co [Member] \| Maximum [Member] \| Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Inputs Forward Power Price	75.71	47.10

Property, Plant and Equipment (All Registrants)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment (All Registrants)

Property, Plant, and Equipment (All Registrants)

The following tables present a summary of property, plant, and equipment by asset category as of December 31, 2022 and 2021:


Asset Category	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
December 31, 2022
Electric—transmission and distribution	$	69,034	$	32,906	$	10,719	$	9,993	$	17,165	$	11,270	$	5,231	$	5,219
Gas—transportation and distribution	8,126		—		3,619		4,074		696		—		855		—
Common—electric and gas	2,521		—		1,071		1,317		228		—		206		—
Construction work in progress	4,534		1,174		744		487		2,101		1,526		271		296
Other property, plant, and equipment(a)	791		106		50		50		114		65		29		26
Total property, plant, and equipment	85,006		34,186		16,203		15,921		20,304		12,861		6,592		5,541
Less: accumulated depreciation	15,930		6,673		4,078		4,583		2,618		4,067		1,772		1,551
Property, plant, and equipment, net	$	69,076	$	27,513	$	12,125	$	11,338	$	17,686	$	8,794	$	4,820	$	3,990

December 31, 2021
Electric—transmission and distribution	$	64,771	$	31,077	$	10,076	$	9,352	$	16,062	$	10,798	$	4,957	$	4,882
Gas—transportation and distribution	7,429		—		3,339		3,712		646		—		806		—
Common—electric and gas	2,335		—		1,005		1,224		201		—		180		—
Construction work in progress	3,698		918		620		554		1,590		1,118		229		242
Other property, plant and equipment(a)	755		99		41		34		107		63		23		25
Total property, plant and equipment	78,988		32,094		15,081		14,876		18,606		11,979		6,195		5,149
Less: accumulated depreciation	14,430		6,099		3,964		4,299		2,108		3,875		1,635		1,420
Property, plant, and equipment, net	$	64,558	$	25,995	$	11,117	$	10,577	$	16,498	$	8,104	$	4,560	$	3,729

__________

(a)Primarily composed of land and non-utility property.

The following table presents the average service life for each asset category in number of years:


	Average Service Life (years)
Asset Category	Exelon	ComEd	PECO	BGE	PHI	Pepco	DPL	ACE
Electric - transmission and distribution	5-80	5-80	5-70	5-80	5-75	5-75	5-75	5-75
Gas - transportation and distribution	5-80	N/A	5-70	5-80	5-75	N/A	5-75	N/A
Common - electric and gas	4-75	N/A	5-55	4-50	5-75	N/A	5-75	N/A
Other property, plant, and equipment	4-61	31-50	50	20-50	10-43	10-33	10-43	13-15

The following table presents the annual depreciation rates for each asset category.


	Annual Depreciation Rates
	Exelon	ComEd	PECO	BGE	PHI	Pepco	DPL	ACE
December 31, 2022
Electric—transmission and distribution	2.87%	3.00%	2.29%	2.82%	2.96%	2.58%	3.08%	3.38%
Gas—transportation and distribution	2.14%	N/A	1.87%	2.53%	1.45%	N/A	1.45%	N/A
Common—electric and gas	7.54%	N/A	6.31%	8.20%	8.96%	N/A	10.03%	N/A

December 31, 2021
Electric—transmission and distribution	2.81%	2.94%	2.28%	2.80%	2.87%	2.56%	2.86%	3.21%
Gas—transportation and distribution	2.13%	N/A	1.84%	2.54%	1.47%	N/A	1.47%	N/A
Common—electric and gas	7.31%	N/A	6.34%	7.88%	8.33%	N/A	8.69%	N/A

December 31, 2020
Electric—transmission and distribution	2.79%	2.95%	2.31%	2.69%	2.81%	2.53%	2.85%	3.08%
Gas—transportation and distribution	2.14%	N/A	1.85%	2.56%	1.50%	N/A	1.50%	N/A
Common—electric and gas	7.01%	N/A	6.39%	7.45%	7.36%	N/A	6.72%	N/A

AFUDC

The following table summarizes credits to AFUDC by year:


	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
December 31, 2022
AFUDC debt and equity	$	215	$	54	$	42	$	29	$	90	$	69	$	10	$	11

December 31, 2021
AFUDC debt and equity	$	189	$	47	$	34	$	36	$	72	$	59	$	8	$	5

December 31, 2020
AFUDC debt and equity	$	150	$	42	$	23	$	30	$	55	$	42	$	6	$	7

See Note 1 — Significant Accounting Policies for additional information regarding property, plant and equipment policies. See Note 16 — Debt and Credit Agreements for additional information regarding Exelon’s, ComEd’s, PECO's, Pepco's, DPL's, and ACE’s property, plant and equipment subject to mortgage liens.

Discontinued Operations (Details) - Balance Sheet - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Dispositions [Line Items]
Restricted cash	$ 566	$ 321	$ 349	$ 358
Customer accounts receivable	2,544	2,189
Customer allowance for credit losses	327	320
Other accounts receivable	1,426	1,068
Other allowance for credit losses	(82)	(72)
Other accounts receivable, net	1,344	996
Fossil fuel and emission allowances	208	105
Materials and supplies	547	476
Currents assets of discontinued operations	0	7,835
Accumulated depreciation and amortization	15,930	14,430
Investments	232	250
Other	1,141	885
Property, plant, and equipment, deferred debits, and other assets of discontinued operations	0	38,509
Total assets	95,349	133,013
Short-term Debt	2,586	1,248
Long-term Debt and Lease Obligation, Current	1,802	2,153
Mark-to-market derivative liabilities, current	8	18
Current liabilities of discontinued operations	0	7,940
Long-term Debt, Excluding Current Maturities	35,272	30,749
Deferred income taxes and unamortized investment tax credits	11,250	10,611
Asset retirement obligations, noncurrent	269	271
Derivative Liability, Noncurrent	83	201
Other deferred credits and other liabilities	1,967	1,573
Long-term debt, deferred credits, and other liabilities of discontinued operations	0	25,676
Total liabilities	$ 70,605	98,218
Exelon Generation Co L L C [Member]
Business Dispositions [Line Items]
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents		510
Restricted cash		72
Customer accounts receivable		1,724
Customer allowance for credit losses		(55)
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net		1,669
Other accounts receivable		596
Other allowance for credit losses		(4)
Other accounts receivable, net		592
Mark-to-market derivative assets, current		2,169
Fossil fuel and emission allowances		284
Materials and supplies		1,004
Renewable energy credits, current		529
Disposal Group, Including Discontinued Operations, Assets, Current - Assets held for sale		13
Disposal Group, Including Discontinued Operation, Other Assets, Current		993
Currents assets of discontinued operations		7,835
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Noncurrent		19,661
Accumulated depreciation and amortization		15,888
Decommissioning Fund Investments		15,938
Investments		193
Mark-to-market derivative assets, noncurrent		949
Other		1,768
Property, plant, and equipment, deferred debits, and other assets of discontinued operations		38,509
Total assets		46,344
Short-term Debt		2,082
Long-term Debt and Lease Obligation, Current		1,220
Disposal Group, Including Discontinued Operation, Accounts Payable, Current		1,757
Disposal Group, Including Discontinued Operation, Accrued Liabilities, Current		818
Mark-to-market derivative liabilities, current		981
Renewable energy credit obligation		779
Disposal Group, Including Discontinued Operations, Assets, Current - Liabilities held for sale		3
Disposal Group, Including Discontinued Operation, Other Liabilities, Current		300
Current liabilities of discontinued operations		7,940
Long-term Debt, Excluding Current Maturities		4,575
Deferred income taxes and unamortized investment tax credits		3,583
Asset retirement obligations, noncurrent		12,819
Disposal Group, Including Discontinued Operation, Pension Plan Benefit Obligation, Noncurrent		939
Disposal Group, Including Discontinued Operation, Postretirement Plan Benefit Obligation, Noncurrent		876
Spent Nuclear Fuel Obligation, Noncurrent		1,210
Derivative Liability, Noncurrent		513
Other deferred credits and other liabilities		1,161
Long-term debt, deferred credits, and other liabilities of discontinued operations		25,676
Total liabilities		$ 33,616

Stock-Based Compensation Plans - Summary of Nonvested Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance	1,142,049
Granted	468,514
Vested	(499,621)
Forfeited	(71,816)
Share-Based Compensation Arrangement by Share-Based Payment Award, Other Share Increase (Decrease)	(943,509)
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized	643,994
Undistributed vested awards	(178,450)
Ending Balance	561,161	1,142,049
Nonvested, Weighted Average Exercise Price (in usd per share)	$ 41.98	$ 43.52
Granted, Weighted Average Grant Date Fair Value (in usd per share)	42.97	$ 44.21	$ 46.33
Vested, Weighted Average Exercise Price (in usd per share)	42.28
Forfeited, Weighted Average Exercise Price (in usd per share)	41.89
Undistributed Vested Awards, Weighted Average Grant Date Fair Value (in usd per share)	$ 38.24
Fully Vested Stock Based Compensation Issued To Retirement Eligible Employees	476,592	609,934

Derivative Financial Instruments - Summary of Interest Rate Hedge Balances (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative Liability, Current	$ (8)	$ (18)
Derivative Liability, Noncurrent	(83)	(201)
Derivative, Fair Value, Net	11	$ (2)
Interest Rate Contract
Derivative [Line Items]
Derivative Asset, Noncurrent	11
Derivative Asset	11
Derivative Liability, Current	3
Derivative Liability, Noncurrent	4
Derivative Liability	7
Derivative, Fair Value, Net	4
Interest Rate Contract \| Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative Asset, Noncurrent	6
Derivative Asset	6
Derivative Liability, Current	0
Derivative Liability, Noncurrent	4
Derivative Liability	4
Derivative, Fair Value, Net	2
Interest Rate Contract \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset, Noncurrent	5
Derivative Asset	5
Derivative Liability, Current	3
Derivative Liability, Noncurrent	0
Derivative Liability	3
Derivative, Fair Value, Net	$ 2

Stock-Based Compensation Plans Stock-Based Compensation Plans (All Registrants)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Plans

Stock-Based Compensation Plans (All Registrants)

Stock-Based Compensation Plans

Exelon grants stock-based awards through its LTIP, which primarily includes performance share awards, restricted stock units, and stock options. At December 31, 2022, there were approximately 34 million shares authorized for issuance under the LTIP. For the years ended December 31, 2022, 2021, and 2020, exercised and distributed stock-based awards were primarily issued from authorized but unissued common stock shares.

Separation-related Adjustments. In connection with the separation, Exelon and Constellation entered into an Employee Matters Agreement, effective February 1, 2022. Under the terms of the Employee Matters Agreement,

and pursuant to the terms of the LTIP, the Compensation Committee of the Board of Exelon approved an adjustment to outstanding awards granted under the LTIP in order to preserve the intrinsic aggregate value of such awards before the separation. The separation-related adjustments did not have a material impact on either compensation expense or the potentially dilutive securities to be considered in the calculation of diluted earnings per share of common stock. Former Exelon employees transferred to Constellation as a result of the separation surrendered their outstanding unvested Exelon awards effective February 1, 2022.

The Registrants grant cash awards. The following table does not include expense related to these plans as they are not considered stock-based compensation plans under the applicable authoritative guidance.

The following table presents the stock-based compensation expense included in Exelon's Consolidated Statements of Operations and Comprehensive Income. The Utility Registrants' stock-based compensation expense for the years ended December 31, 2022, 2021, and 2020 was not material.


	Year Ended December 31,
Exelon	2022		2021		2020
Total stock-based compensation expense included in operating and maintenance expense	$	41	$	95	$	37
Income tax benefit	(10)		(25)		(9)
Total after-tax stock-based compensation expense	$	31	$	70	$	28

Exelon receives a tax deduction based on the intrinsic value of the award on the exercise date for stock options and the distribution date for performance share awards and restricted stock units. For each award, throughout the requisite service period, Exelon recognizes the tax benefit related to compensation costs. The following table presents information regarding Exelon’s realized tax benefit when distributed:


	Year Ended December 31,
	2022		2021		2020
Performance share awards	$	6	$	6	$	15
Restricted stock units	6		6		8

Performance Share Awards

Performance share awards are granted under the LTIP. The performance share awards are settled 50% in common stock and 50% in cash at the end of the three-year performance period, except for awards that are settled 100% in cash if certain ownership requirements are satisfied.

The common stock portion of the performance share awards is considered an equity award and is valued based on Exelon's stock price on the grant date. The cash portion of the performance share awards is considered a liability award which is remeasured each reporting period based on Exelon’s current stock price. As the value of the common stock and cash portions of the awards are based on Exelon’s stock price during the performance period, coupled with changes in the total shareholder return modifier and expected payout of the award, the compensation costs are subject to volatility until payout is established.

For nonretirement-eligible employees, stock-based compensation costs are recognized over the vesting period of three years using the straight-line method. For performance share awards granted to retirement-eligible employees, the value of the performance shares is recognized ratably over the vesting period, which is the year of grant.

Exelon processes forfeitures as they occur for employees who do not complete the requisite service period.

The following table summarizes Exelon’s nonvested performance share awards activity:


	Shares	Weighted Average Grant Date Fair Value (per share)
Nonvested at December 31, 2021(a)	1,222,516	$	44.96
Granted	727,697	43.05
Change in performance	(216,981)	42.73
Vested	(233,318)	47.39
Forfeited	(86,128)	42.61
Awards surrendered as a result of the separation	(2,308,745)
Awards granted in conversion as a result of the separation	1,870,990
Undistributed vested awards(b)(c)	(109,226)	4.55
Nonvested at December 31, 2022(a)	866,805	$	41.86

__________

(a)Excludes 1,539,819 and 1,934,238 of performance share awards issued to retirement-eligible employees as of December 31, 2022 and 2021, respectively, as they are fully vested.

(b)The significant reduction in weighted average grant date fair value during 2022 primarily resulted from more pre-separation shares being surrendered than shares issued to Exelon retirement eligible employees post-separation.

(c)Represents performance share awards that vested but were not distributed to retirement-eligible employees during 2022.

The following table summarizes the weighted average grant date fair value and the total fair value of performance share awards vested.


	Year Ended December 31,
	2022(a)		2021		2020
Weighted average grant date fair value (per share)	$	43.05	$	43.37	$	46.61
Total fair value of performance shares vested	29		44		39
Total fair value of performance shares settled in cash	25		28		63

__________

(a)As of December 31, 2022, $12 million of total unrecognized compensation costs related to nonvested performance shares are expected to be recognized over the remaining weighted-average period of 1.8 years.

Restricted Stock Units

Restricted stock units are granted under the LTIP with the majority being settled in a specific number of shares of common stock after the service condition has been met. The corresponding cost of services is measured based on the grant date fair value of the restricted stock unit issued.

The value of the restricted stock units is expensed over the requisite service period using the straight-line method. The requisite service period for restricted stock units is generally three to five years. However, certain restricted stock unit awards become fully vested upon the employee reaching retirement-eligibility. The value of the restricted stock units granted to retirement-eligible employees is either recognized ratably over the first six months in the year of grant if the employee reaches retirement eligibility prior to July 1st of the grant year or through the date of which the employee reaches retirement eligibility. Exelon processes forfeitures as they occur for employees who do not complete the requisite service period.

The following table summarizes Exelon’s nonvested restricted stock unit activity:


	Shares	Weighted Average Grant Date Fair Value (per share)
Nonvested at December 31, 2021(a)	1,142,049	$	43.52
Granted	468,514	42.97
Vested	(499,621)	42.28
Forfeited	(71,816)	41.89
Awards surrendered as a result of the separation	(943,509)
Awards granted in conversion as a result of the separation	643,994
Undistributed vested awards(b)	(178,450)	38.24
Nonvested at December 31, 2022(a)	561,161	$	41.98

__________

(a)Excludes 476,592 and 609,934 of restricted stock units issued to retirement-eligible employees as of December 31, 2022 and 2021, respectively, as they are fully vested.

(b)Represents restricted stock units that vested but were not distributed to retirement-eligible employees during 2022.

The following table summarizes the weighted average grant date fair value and the total fair value of restricted stock units vested.


	Year Ended December 31,
	2022(a)		2021		2020
Weighted average grant date fair value (per share)	$	42.97	$	44.21	$	46.33
Total fair value of restricted stock units vested	23		34		54

__________

(a)As of December 31, 2022, $11 million of total unrecognized compensation costs related to nonvested restricted stock units are expected to be recognized over the remaining weighted-average period of 1.90 years.

Stock Options

Non-qualified stock options to purchase shares of Exelon’s common stock were granted through 2012 under the LTIP. The exercise price of the stock options is equal to the fair market value of the underlying stock on the date of option grant. Stock options will expire no later than ten years from the date of grant.

At December 31, 2022 all stock options were vested and exercised.

The following table presents information with respect to stock option activity:


	Shares	Weighted Average Exercise Price (per share)		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
Balance of shares outstanding at December 31, 2021	27,007	$	46.47	0.15	$	—
Options exercised	(27,644)	38.56			—

Options expired	—	—
Awards surrendered as a result of the separation	(2,000)
Awards granted in conversion as a result of the separation	2,637
Balance of shares outstanding at December 31, 2022	—	$	—	0	$	—
Exercisable at December 31, 2022	—	$	—	0	$	—

The following table summarizes additional information regarding stock options exercised:


	Year Ended December 31,
	2022		2021		2020
Intrinsic value(a)	$	—	$	11	$	5
Cash received for exercise price	1		37		18

__________

(a)The difference between the market value on the date of exercise and the option exercise price.

Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value of Financial Liabilities Recorded at Amortized Cost

The following tables present the carrying amounts and fair values of the Registrants’ short-term liabilities, long-term debt, and trust preferred securities (long-term debt to financing trusts or junior subordinated debentures) as of December 31, 2022 and 2021. The Registrants have no financial liabilities classified as Level 1 or measured using the NAV practical expedient.

The carrying amounts of the Registrants’ short-term liabilities as presented in their Consolidated Balance Sheets are representative of their fair value (Level 2) because of the short-term nature of these instruments.


	December 31, 2022								December 31, 2021
	Carrying Amount		Fair Value						Carrying Amount		Fair Value
			Level 2		Level 3		Total				Level 2		Level 3		Total
Long-Term Debt, including amounts due within one year(a)
Exelon	$	37,074	$	29,902	$	2,327	$	32,229	$	32,902	$	34,897	$	2,217	$	37,114
ComEd	10,518		9,006		—		9,006		9,773		11,305		—		11,305
PECO	4,612		3,864		50		3,914		4,197		4,740		50		4,790
BGE	4,207		3,613		—		3,613		3,961		4,406		—		4,406
PHI	8,120		4,507		2,277		6,784		7,547		5,970		2,167		8,137
Pepco	3,751		2,229		1,205		3,434		3,445		3,201		975		4,176
DPL	1,938		1,164		458		1,622		1,810		1,426		552		1,978
ACE	1,757		909		614		1,523		1,582		1,091		641		1,732
Long-Term Debt to Financing Trusts
Exelon	$	390	$	—	$	384	$	384	$	390	$	—	$	470	$	470
ComEd	205		—		204		204		205		—		248		248
PECO	184		—		180		180		184		—		222		222

__________

(a) Includes unamortized debt issuance costs, unamortized debt discount and premium, net, purchase accounting fair value adjustments, and finance lease liabilities which are not fair valued. Refer to Note 16 — Debt and Credit Agreements for unamortized debt issuance costs, unamortized debt discount and premium, net, and purchase accounting fair value adjustments and Note 10 — Leases for finance lease liabilities.

Assets and Liabilities Measured and Recorded at Fair Value on Recurring Basis

The following tables present assets and liabilities measured and recorded at fair value in the Registrants' Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy as of December 31, 2022 and 2021. The Registrants have no financial assets or liabilities measured using the NAV practical expedient:

Exelon


	As of December 31, 2022								As of December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	664	$	—	$	—	$	664	$	524	$	—	$	—	$	524
Rabbi trust investments
Cash equivalents	62		—		—		62		60		—		—		60
Mutual funds	49		—		—		49		60		—		—		60
Fixed income	—		7		—		7		—		10		—		10
Life insurance contracts	—		58		40		98		—		61		37		98
Rabbi trust investments subtotal	111		65		40		216		120		71		37		228

Interest rate derivative assets
Derivatives designated as hedging instruments	—		6		—		6		—		—		—		—
Economic hedges	—		5		—		5		—		—		—		—
Interest rate derivative assets subtotal	—		11		—		11		—		—		—		—
Total assets	775		76		40		891		644		71		37		752
Liabilities
Mark-to-market derivative liabilities	—		—		(84)		(84)		—		—		(219)		(219)
Interest rate derivative liabilities
Derivatives designated as hedging instruments	—		(4)		—		(4)		—		—		—		—
Economic hedges	—		(3)		—		(3)		—		—		—		—
Interest rate derivative liabilities subtotal	—		(7)		—		(7)		—		—		—		—
Deferred compensation obligation	—		(75)		—		(75)		—		(131)		—		(131)
Total liabilities	—		(82)		(84)		(166)		—		(131)		(219)		(350)
Total net assets (liabilities)	$	775	$	(6)	$	(44)	$	725	$	644	$	(60)	$	(182)	$	402

__________

(a)Excludes cash of $345 million and $464 million as of December 31, 2022 and 2021, respectively, and restricted cash of $81 million and $49 million as of December 31, 2022 and 2021, respectively, and includes long-term restricted cash of $117 million and $44 million as of December 31, 2022 and 2021, respectively, which is reported in Other deferred debits in the Consolidated Balance Sheets.

ComEd, PECO, and BGE


	ComEd								PECO								BGE
As of December 31, 2022	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	392	$	—	$	—	$	392	$	10	$	—	$	—	$	10	$	23	$	—	$	—	$	23
Rabbi trust investments
Mutual funds	—		—		—		—		7		—		—		7		7		—		—		7
Life insurance contracts	—		—		—		—		—		15		—		15		—		—		—		—
Rabbi trust investments subtotal	—		—		—		—		7		15		—		22		7		—		—		7

Total assets	392		—		—		392		17		15		—		32		30		—		—		30
Liabilities
Mark-to-market derivative liabilities(b)	—		—		(84)		(84)		—		—		—		—		—		—		—		—
Deferred compensation obligation	—		(8)		—		(8)		—		(7)		—		(7)		—		(4)		—		(4)
Total liabilities	—		(8)		(84)		(92)		—		(7)		—		(7)		—		(4)		—		(4)
Total net assets (liabilities)	$	392	$	(8)	$	(84)	$	300	$	17	$	8	$	—	$	25	$	30	$	(4)	$	—	$	26


	ComEd								PECO								BGE
As of December 31, 2021	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	237	$	—	$	—	$	237	$	9	$	—	$	—	$	9	$	—	$	—	$	—	$	—
Rabbi trust investments
Mutual funds	—		—		—		—		11		—		—		11		14		—		—		14
Life insurance contracts	—		—		—		—		—		16		—		16		—		—		—		—
Rabbi trust investments subtotal	—		—		—		—		11		16		—		27		14		—		—		14
Total assets	237		—		—		237		20		16		—		36		14		—		—		14
Liabilities
Mark-to-market derivative liabilities(b)	—		—		(219)		(219)		—		—		—		—		—		—		—		—
Deferred compensation obligation	—		(10)		—		(10)		—		(9)		—		(9)		—		(7)		—		(7)
Total liabilities	—		(10)		(219)		(229)		—		(9)		—		(9)		—		(7)		—		(7)
Total net assets (liabilities)	$	237	$	(10)	$	(219)	$	8	$	20	$	7	$	—	$	27	$	14	$	(7)	$	—	$	7

__________

(a)ComEd excludes cash of $42 million and $105 million as of December 31, 2022 and 2021, respectively, and restricted cash of $77 million and $42 million as of December 31, 2022 and 2021, respectively, and includes long-term restricted cash of $117 million and $43 million as of December 31, 2022 and 2021, respectively, which is reported in Other deferred debits in the Consolidated Balance Sheets. PECO excludes cash of $58 million and $35 million as of December 31, 2022 and 2021, respectively. BGE excludes cash of $43 million and $51 million as of December 31, 2022 and 2021, respectively, and restricted cash of $1 million and $4 million as of December 31, 2022 and 2021, respectively.

(b)The Level 3 balance consists of the current and noncurrent liability of $5 million and $79 million, respectively, as of December 31, 2022, and $18 million and $201 million, respectively, as of December 31, 2021 related to floating-to-fixed energy swap contracts with unaffiliated suppliers.

PHI, Pepco, DPL, and ACE


	As of December 31, 2022								As of December 31, 2021
PHI	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	205	$	—	$	—	$	205	$	110	$	—	$	—	$	110
Rabbi trust investments
Cash equivalents	59		—		—		59		59		—		—		59
Mutual funds	11		—		—		11		14		—		—		14
Fixed income	—		7		—		7		—		10		—		10
Life insurance contracts	—		22		39		61		—		27		35		62
Rabbi trust investments subtotal	70		29		39		138		73		37		35		145
Total assets	275		29		39		343		183		37		35		255
Liabilities
Deferred compensation obligation	—		(14)		—		(14)		—		(18)		—		(18)
Total liabilities	—		(14)		—		(14)		—		(18)		—		(18)
Total net assets	$	275	$	15	$	39	$	329	$	183	$	19	$	35	$	237


	Pepco								DPL								ACE
As of December 31, 2022	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	51	$	—	$	—	$	51	$	121	$	—	$	—	$	121	$	1	$	—	$	—	$	1
Rabbi trust investments
Cash equivalents	59		—		—		59		—		—		—		—		—		—		—		—
Life insurance contracts	—		22		38		60		—		—		—		—		—		—		—		—
Rabbi trust investments subtotal	59		22		38		119		—		—		—		—		—		—		—		—
Total assets	110		22		38		170		121		—		—		121		1		—		—		1
Liabilities
Deferred compensation obligation	—		(1)		—		(1)		—		—		—		—		—		—		—		—



Total liabilities	—		(1)		—		(1)		—		—		—		—		—		—		—		—
Total net assets	$	110	$	21	$	38	$	169	$	121	$	—	$	—	$	121	$	1	$	—	$	—	$	1


	Pepco								DPL								ACE
As of December 31, 2021	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	31	$	—	$	—	$	31	$	43	$	—	$	—	$	43	$	—	$	—	$	—	$	—

Rabbi trust investments
Cash equivalents	58		—		—		58		—		—		—		—		—		—		—		—

Life insurance contracts	—		27		35		62		—		—		—		—		—		—		—		—
Rabbi trust investments subtotal	58		27		35		120		—		—		—		—		—		—		—		—
Total assets	89		27		35		151		43		—		—		43		—		—		—		—
Liabilities
Deferred compensation obligation	—		(2)		—		(2)		—		—		—		—		—		—		—		—



Total liabilities	—		(2)		—		(2)		—		—		—		—		—		—		—		—
Total net assets	$	89	$	25	$	35	$	149	$	43	$	—	$	—	$	43	$	—	$	—	$	—	$	—

__________

(a)PHI excludes cash of $165 million and $100 million as of December 31, 2022 and 2021, respectively, and restricted cash of $3 million and $3 million as of December 31, 2022 and 2021, respectively. Pepco excludes cash of $45 million and $34 million as of December 31, 2022 and 2021, respectively, and restricted cash of $3 million and $3 million as of December 31, 2022 and 2021, respectively. DPL excludes cash of $31 million and $28 million as of December 31, 2022 and 2021, respectively. ACE excludes cash of $71 million and $29 million as of December 31, 2022 and 2021, respectively.

Fair Value Reconciliation of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis during the years ended December 31, 2022 and 2021:


	Exelon		ComEd			PHI and Pepco
For the year ended December 31, 2022	Total		Mark-to-Market Derivatives			Life Insurance Contracts
Balance as of December 31, 2021	$	(182)	$	(219)		$	35
Total realized / unrealized gains (losses)
Included in net income(a)	5		—			5
Included in regulatory assets/liabilities	135		135		(b)	—
Purchases, sales, and settlements
Settlements	—		—			—

Transfers out of Level 3	(2)		—			—
Balance as of December 31, 2022	$	(44)	$	(84)	(c)	$	40
The amount of total gains included in income attributed to the change in unrealized gains (losses) related to assets and liabilities as of December 31, 2022	5		$	—		$	5


	Exelon		ComEd			PHI and Pepco
For the year ended December 31, 2021	Total		Mark-to-Market Derivatives			Life Insurance Contracts
Balance as of December 31, 2020	$	(267)	$	(301)		$	34
Total realized / unrealized gains (losses)
Included in net income(a)	3		—			3
Included in regulatory assets/liabilities	82		82		(b)	—
Purchases, sales, and settlements
Settlements	(2)		—			(2)
Transfers into Level 3	2		—			—

Balance as of December 31, 2021	$	(182)	$	(219)		$	35
The amount of total gains included in income attributed to the change in unrealized gains (losses) related to assets and liabilities as of December 31, 2021	$	3	$	—		$	3

__________

(a)Classified in Operating and maintenance expense in the Consolidated Statements of Operations and Comprehensive Income.

(b)Includes $136 million of increases in fair value and a decrease for realized losses due to settlements of $1 million recorded in purchased power expense associated with floating-to-fixed energy swap contracts with unaffiliated suppliers for the year ended December 31, 2022. Includes $62 million of increases in fair value and an increase for realized losses due to settlements of $20 million recorded in purchased power expense associated with floating-to-fixed energy swap contracts with unaffiliated suppliers for the year ended December 31, 2021.

(c)The balance of the current and noncurrent asset was effectively zero as of December 31, 2022. The balance consists of a current and noncurrent liability of $5 million and $79 million, respectively, as of December 31, 2022.

Fair Value Reconciliation of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis, Valuation Technique

The following table discloses the significant unobservable inputs to the forward curve used to value mark-to-market derivatives:


Type of trade	Fair Value as of December 31, 2022		Fair Value as of December 31, 2021		Valuation Technique	Unobservable Input	2022 Range & Arithmetic Average							2021 Range & Arithmetic Average
Mark-to-market derivatives	$	(84)	$	(219)	Discounted Cash Flow	Forward power price(a)	$	34.78	-	$	75.71	$	48.44	$	28.65	-	$	47.10	$	33.96

__________

(a)An increase to the forward power price would increase the fair value.

Stock-Based Compensation Plans - Summary of Performance Share Awards Activity (Details) - Performance Shares [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance	1,222,516
Granted	727,697
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Period Increase (Decrease)	(216,981)
Vested	(233,318)
Forfeited	(86,128)
Share-Based Compensation Arrangement by Share-Based Payment Award, Other Share Increase (Decrease)	(2,308,745)
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized	1,870,990
Undistributed vested awards	(109,226)
Ending Balance	866,805	1,222,516
Nonvested, Weighted Average Exercise Price (in usd per share)	$ 41.86	$ 44.96
Granted, Weighted Average Grant Date Fair Value (in usd per share)	43.05	$ 43.37	$ 46.61
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Change in Performance, Weighted Average Grant Date Fair Value	42.73
Vested, Weighted Average Exercise Price (in usd per share)	47.39
Forfeited, Weighted Average Exercise Price (in usd per share)	42.61
Undistributed Vested Awards, Weighted Average Grant Date Fair Value (in usd per share)	$ 4.55
Fully Vested Stock Based Compensation Issued To Retirement Eligible Employees	1,539,819	1,934,238

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended	12 Months Ended
	Oct. 11, 2022	Aug. 11, 2022	Sep. 30, 2022	Dec. 31, 2022	Aug. 04, 2022
Stock Issued During Period, Shares, New Issues				12,995,000
Share Price					$ 43.32
Proceeds from Issuance or Sale of Equity			$ 563
Proceeds from (Repayments of) Debt		$ 575
Equity Distribution Agreement					$ 1,000
Schedule of Capitalization, Equity [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased				0
Corporate, Non-Segment [Member]
Proceeds from (Repayments of) Debt	$ 575	$ 575
Corporate, Non-Segment [Member] \| ShortTermDebtSOFRplus075Jan2023
Short-Term Loans			$ 1,150	$ 1,150
Initial Equity Securities Offering
Stock Issued During Period, Shares, New Issues			11,300,000
Additional Equity Securities Offering
Stock Issued During Period, Shares, New Issues			1,695,000

Derivative Financial Instruments (All Registrants)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments (All Registrants)

The Registrants use derivative instruments to manage commodity price risk and interest rate risk related to ongoing business operations. The Registrants do not execute derivatives for speculative or proprietary trading purposes.

Authoritative guidance requires that derivative instruments be recognized as either assets or liabilities at fair value, with changes in fair value of the derivative recognized in earnings immediately. Other accounting treatments are available through special election and designation, provided they meet specific, restrictive criteria both at the time of designation and on an ongoing basis. These alternative permissible accounting treatments include NPNS, cash flow hedges, and fair value hedges. At ComEd, derivative economic hedges related to commodities are recorded at fair value and offset by a corresponding regulatory asset or liability. At Exelon, derivative economic hedges related to interest rates are recorded at fair value and offsets are recorded to Electric operating revenues or Interest expense based on the activity the transaction is economically hedging.

For all NPNS derivative instruments, accounts receivable or accounts payable are recorded when derivatives settle and revenue or expense is recognized in earnings as the underlying physical commodity is sold or consumed. At Exelon, derivative hedges that qualify and are designated as cash flow hedges are recorded at fair value and offsets are recorded to AOCI.

ComEd’s use of cash collateral is generally unrestricted unless ComEd is downgraded below investment grade. Cash collateral held by PECO, BGE, Pepco, DPL, and ACE must be deposited in an unaffiliated major U.S. commercial bank or foreign bank with a U.S. branch office that meets certain qualifications.

Commodity Price Risk

The Registrants employ established policies and procedures to manage their risks associated with market fluctuations in commodity prices by entering into physical and financial derivative contracts, which are either determined to be non-derivative or classified as economic hedges. The Utility Registrants procure electric and natural gas supply through a competitive procurement process approved by each of the respective state utility commissions. The Utility Registrants’ hedging programs are intended to reduce exposure to energy and natural gas price volatility and have no direct earnings impact as the costs are fully recovered from customers through regulatory-approved recovery mechanisms. The following table provides a summary of the Utility Registrants’ primary derivative hedging instruments, listed by commodity and accounting treatment.


Registrant	Commodity	Accounting Treatment	Hedging Instrument
ComEd	Electricity	NPNS	Fixed price contracts based on all requirements in the IPA procurement plans.
	Electricity	Changes in fair value of economic hedge recorded to an offsetting regulatory asset or liability(a)	20-year floating-to-fixed energy swap contracts beginning June 2012 based on the renewable energy resource procurement requirements in the Illinois Settlement Legislation of approximately 1.3 million MWhs per year.
PECO	Electricity	NPNS	Fixed price contracts for default supply requirements through full requirements contracts.
	Gas	NPNS	Fixed price contracts to cover about 10% of planned natural gas purchases in support of projected firm sales.
BGE	Electricity	NPNS	Fixed price contracts for all SOS requirements through full requirements contracts.
	Gas	NPNS	Fixed price contracts for between 10-20% of forecasted system supply requirements for flowing (i.e., non-storage) gas for the November through March period.
Pepco	Electricity	NPNS	Fixed price contracts for all SOS requirements through full requirements contracts.
DPL	Electricity	NPNS	Fixed price contracts for all SOS requirements through full requirements contracts.
	Gas	NPNS	Fixed and index priced contracts through full requirements contracts.
	Gas	Changes in fair value of economic hedge recorded to an offsetting regulatory asset or liability(b)	Exchange traded future contracts for up to 50% of estimated monthly purchase requirements each month, including purchases for storage injections.
ACE	Electricity	NPNS	Fixed price contracts for all BGS requirements through full requirements contracts.

_________

(a)See Note 3—Regulatory Matters for additional information.

(b)The fair value of the DPL economic hedge is not material as of December 31, 2022 and 2021.

The fair value of derivative economic hedges is presented in Other current assets and current and noncurrent Mark-to-market derivative liabilities in Exelon's and ComEd's Consolidated Balance Sheets.

Interest Rate and Other Risk (Exelon)

Exelon Corporate uses a combination of fixed-rate and variable-rate debt to manage interest rate exposure. Exelon Corporate may utilize interest rate derivatives to lock in rate levels in anticipation of future financings, which are typically designated as cash flow hedges. In addition, Exelon Corporate may also utilize interest rate

swaps to manage interest rate exposure and manage potential fluctuations in Electric operating revenues at the corporate level in consolidation, which are directly correlated to yields on U.S. Treasury bonds under ComEd's distribution formula rate. These interest rate swaps are accounted for as economic hedges. A hypothetical 50 basis point change in the interest rates associated with Exelon's interest rate swaps as of December 31, 2022 would result in an immaterial impact to Exelon's Consolidated Net Income. Below is a summary of the interest rate hedge balances as of December 31, 2022. Exelon had no interest rate hedge activity in 2021.


December 31, 2022	Derivatives Designated as Hedging Instruments		Economic Hedges		Total

Other deferred debits (noncurrent assets)	$	6	$	5	$	11
Total derivative assets	6		5		11
Mark-to-market derivative liabilities (current liabilities)	—		(3)		(3)
Mark-to-market derivative liabilities (noncurrent liabilities)	(4)		—		(4)
Total mark-to-market derivative liabilities	(4)		(3)		(7)
Total mark-to-market derivative net assets	$	2	$	2	$	4

Cash Flow Hedges (Interest Rate Risk)

For derivative instruments that qualify and are designated as cash flow hedges, the changes in fair value each period are initially recorded in AOCI and reclassified into earnings when the underlying transaction affects earnings. In 2022, Exelon Corporate entered into $635 million notional of 5-year maturity floating-to-fixed swaps and $635 million notional of 10-year maturity floating-to-fixed swaps, for a total of $1,270 million as of December 31, 2022. Exelon had no swaps designated as cash flow hedges as of December 31, 2021. In January 2023, Exelon Corporate entered into $115 million notional of 5-year maturity floating-to-fixed swaps and $115 million notional of 10-year maturity floating-to-fixed swaps, for a total of $230 million designated as cash flow hedges. The total notional of the swaps issued as of the balance sheet date and subsequently are $1,500 million.

The AOCI derivative gain is $2 million as of December 31, 2022. There were no amounts reclassified to Net Income in 2022. See Note 21 – Changes in Accumulated Other Comprehensive Income for additional information. Exelon had no swaps designated as cash flow hedges as of December 31, 2021.

Economic Hedges (Interest Rate and Other Risk)

Exelon Corporate executes derivative instruments to mitigate exposure to fluctuations in interest rates but for which the fair value or cash flow hedge elections were not made. For derivatives intended to serve as economic hedges, fair value is recorded on the balance sheet and changes in fair value each period are recognized in earnings or as a regulatory asset or liability, if regulatory requirements are met, each period.

Exelon Corporate enters into floating-to-fixed interest rate cap swaps to manage a portion of interest rate exposure in connection with existing borrowings. In 2022, Exelon Corporate entered into $1,000 million notional of 18-month maturity floating-to-fixed interest rate cap swaps and $850 million notional of 6-month maturity floating-to-fixed interest rate cap swaps, for a total of $1,850 million notional of floating-to-fixed interest rate cap swaps as of December 31, 2022. Exelon had no swaps as of December 31, 2021.

Additionally, to manage potential fluctuations in Electric operating revenues related to ComEd's distribution formula rate, Exelon Corporate enters into 30-year constant maturity treasury interest rate (Corporate 30-year treasury) swaps. As of December 31, 2022, Exelon Corporate entered into $500 million notional of calendar year 2023 Corporate 30-year treasury swaps. In January and February 2023, Exelon Corporate entered into a total of $1,500 million notional of calendar year 2023 Corporate 30-year treasury swaps. The total notional of the swaps issued as of the balance sheet date and subsequently are $2,000 million.

For the year ended December 31, 2022, Exelon Corporate recognized the following net pre-tax mark-to-market losses which are also recognized in Net fair value changes related to derivatives in Exelon's Consolidated Statements of Cash Flows. Exelon had no swaps for the years ended December 31, 2021 and 2020.


	Loss
Income Statement Location	2022
Electric operating revenues	$	2
Interest expense	3
Total	$	5

Credit Risk

The Registrants would be exposed to credit-related losses in the event of non-performance by counterparties on executed derivative instruments. The credit exposure of derivative contracts, before collateral, is represented by the fair value of contracts at the reporting date. The Utility Registrants have contracts to procure electric and natural gas supply that provide suppliers with a certain amount of unsecured credit. If the exposure on the supply contract exceeds the amount of unsecured credit, the suppliers may be required to post collateral. The net credit exposure is mitigated primarily by the ability to recover procurement costs through customer rates. As of December 31, 2022, the amount of cash collateral held with external counterparties by Exelon, ComEd, BGE, PHI, Pepco, DPL, and ACE was $297 million, $77 million, $23 million, $197 million, $26 million, $121 million, and $50 million, respectively, which is recorded in Other current liabilities in Exelon's, ComEd's, BGE's, PHI's, Pepco's, DPL's, and ACE's Consolidated Balance Sheets. The amount for PECO was not material as of December 31, 2022. As of December 31, 2021, the amounts for ComEd and DPL were $41 million and $43 million, respectively. The amounts for Exelon, PECO, BGE, PHI, Pepco, and ACE were not material as of December 31, 2021.

The Utility Registrants’ electric supply procurement contracts do not contain provisions that would require them to post collateral. PECO’s, BGE’s, and DPL’s natural gas procurement contracts contain provisions that could require PECO, BGE, and DPL to post collateral in the form of cash or credit support, which vary by contract and counterparty, with thresholds contingent upon PECO’s, BGE's, and DPL’s credit rating. As of December 31, 2022, PECO, BGE, and DPL were not required to post collateral for any of these agreements. If PECO, BGE, or DPL lost their investment grade credit rating as of December 31, 2022, they could have been required to post collateral to their counterparties of $71 million, $119 million, and $15 million, respectively.

Consolidated Statement of Changes in Shareholders Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Stock [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss), net	Noncontrolling Interest [Member]	Commonwealth Edison Co [Member]	Commonwealth Edison Co [Member] Common Stock [Member]	Commonwealth Edison Co [Member] Retained Earnings [Member]	Commonwealth Edison Co [Member] Other Additional Capital [Member]	PECO Energy Co [Member]	PECO Energy Co [Member] Common Stock [Member]	PECO Energy Co [Member] Retained Earnings [Member]	Baltimore Gas and Electric Company [Member]	Baltimore Gas and Electric Company [Member] Common Stock [Member]	Baltimore Gas and Electric Company [Member] Retained Earnings [Member]	Pepco Holdings LLC [Member]	Pepco Holdings LLC [Member] Membership Interest [Member]	Pepco Holdings LLC [Member] Retained Earnings [Member]	Potomac Electric Power Company [Member]	Potomac Electric Power Company [Member] Common Stock [Member]	Potomac Electric Power Company [Member] Retained Earnings [Member]	Delmarva Power & Light Company [Member]	Delmarva Power & Light Company [Member] Common Stock [Member]	Delmarva Power & Light Company [Member] Retained Earnings [Member]	Atlantic City Electric Company [Member]	Atlantic City Electric Company [Member] Common Stock [Member]	Atlantic City Electric Company [Member] Retained Earnings [Member]
Beginning Balance (in shares) at Dec. 31, 2019	974,416
Beginning Balance at Dec. 31, 2019	$ 34,573	$ 19,274	$ (123)	$ 16,267	$ (3,194)	$ 2,349
Beginning Balance at Dec. 31, 2019																	$ 9,608	$ 9,618	$ (10)
Beginning Balance at Dec. 31, 2019							$ 10,677	$ 1,588	$ 1,517	$ 7,572	$ 4,178	$ 2,766	$ 1,412	$ 3,683	$ 1,907	$ 1,776				$ 2,907	$ 1,796	$ 1,111	$ 1,580	$ 977	$ 603	$ 1,283	$ 1,154	$ 129
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 1,954			1,963		(9)	438		438		447		447	349		349	495		495	266		266	125		125	112		112
Long-Term Incentive Plan Activity (shares)	1,570
Long-Term Incentive Plan Activity	$ 40	40
Employee stock purchase plan issuances, shares	1,480
Employee stock purchase plan issuances	$ 56	56
Sale of noncontrolling interests	3	3
Changes in equity of noncontrolling interests	(57)					(57)
Proceeds from Issuance of Common Stock	0
Acquisition of CENG noncontrolling interest	$ 0
Common Stock, Dividends, Per Share, Declared	$ 1.53
Common stock dividends	$ (1,495)			(1,495)			(499)		(499)		(340)		(340)	(246)		(246)				(232)		(232)	(141)		(141)	(114)		(114)
Other Comprehensive Income (Loss), Net of Tax	$ (206)				(206)
Distributions to member																	(553)		(553)
Contributions from parent							713			713	248	248		411	411		494	494		262	262		112	112		117	117
Ending Balance (in shares) at Dec. 31, 2020	977,466
Ending Balance at Dec. 31, 2020	$ 34,868	19,373	(123)	16,735	(3,400)	2,283
Ending Balance at Dec. 31, 2020							11,329	1,588	1,456	8,285	4,533	3,014	1,519	4,197	2,318	1,879				3,203	2,058	1,145	1,676	1,089	587	1,398	1,271	127
Ending Balance at Dec. 31, 2020																	10,044	10,112	(68)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 1,829			1,706		123	742		742		504		504	408		408	561		561	296		296	128		128	146		146
Long-Term Incentive Plan Activity (shares)	1,734
Long-Term Incentive Plan Activity	$ 69	69
Employee stock purchase plan issuances, shares	2,091
Employee stock purchase plan issuances	$ 90	90
Changes in equity of noncontrolling interests	(37)					(37)
Proceeds from Issuance of Common Stock	0
Acquisition of CENG noncontrolling interest	(885)	1,080				(1,965)
Deferred Tax Liability Adjustment - Noncontrolling Interest	$ (290)	(290)
Common Stock, Dividends, Per Share, Declared	$ 1.53
Common stock dividends	$ (1,499)			(1,499)			(507)		(507)		(339)		(339)	(292)		(292)				(268)		(268)	(147)		(147)	(288)		(288)
Payments to Noncontrolling Interests	0	2				(2)
Other Comprehensive Income (Loss), Net of Tax	$ 650				650
Distributions to member																	(703)		(703)
Contributions from parent							791			791	414	414		257	257		683	683		244	244		120	120		319	319
Ending Balance (in shares) at Dec. 31, 2021	981,291
Ending Balance at Dec. 31, 2021	$ 34,795	20,324	(123)	16,942	(2,750)	402
Ending Balance at Dec. 31, 2021	34,393						12,355	1,588	1,691	9,076	5,112	3,428	1,684	4,570	2,575	1,995				3,475	2,302	1,173	1,777	1,209	568	1,575	1,590	(15)
Ending Balance at Dec. 31, 2021																	10,585	10,795	(210)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 2,171			2,170		1	917		917		576		576	380		380	608		608	305		305	169		169	148		148
Long-Term Incentive Plan Activity (shares)	561
Long-Term Incentive Plan Activity	$ 1	1
Employee stock purchase plan issuances, shares	983
Employee stock purchase plan issuances	$ 41	41
Changes in equity of noncontrolling interests	(7)					(7)
Distribution of Constellation	(11,573)	(21)		(13,179)	2,023	(396)
Proceeds from Issuance of Common Stock	$ 563	563
Stock Issued During Period, Shares, New Issues	12,995
Acquisition of CENG noncontrolling interest	$ 0
Common Stock, Dividends, Per Share, Declared	$ 1.35
Common stock dividends	$ (1,336)			(1,336)			(578)		(578)		(399)		(399)	(300)		(300)				(463)		(463)	(143)		(143)	(145)		(145)
Other Comprehensive Income (Loss), Net of Tax	$ 89				89
Distributions to member																	(750)		(750)
Contributions from parent							670			670	274	274		286	286		787	787		465	465		147	147		175	175
Ending Balance (in shares) at Dec. 31, 2022	995,830
Ending Balance at Dec. 31, 2022	$ 24,744	$ 20,908	$ (123)	$ 4,597	$ (638)	$ 0
Ending Balance at Dec. 31, 2022	$ 24,744						$ 13,364	$ 1,588	$ 2,030	$ 9,746	$ 5,563	$ 3,702	$ 1,861	$ 4,936	$ 2,861	$ 2,075				$ 3,782	$ 2,767	$ 1,015	$ 1,950	$ 1,356	$ 594	$ 1,753	$ 1,765	$ (12)
Ending Balance at Dec. 31, 2022																	$ 11,230	$ 11,582	$ (352)

Property, Plant and Equipment - Annual Depreciation Provisions as Percentage of Average Service Life (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Electric—transmission and distribution
Property, Plant and Equipment [Line Items]
Annual depreciation rate	2.87%	2.81%	2.79%
Gas Distribution Equipment
Property, Plant and Equipment [Line Items]
Annual depreciation rate	2.14%	2.13%	2.14%
Common—electric and gas
Property, Plant and Equipment [Line Items]
Annual depreciation rate	7.54%	7.31%	7.01%
Commonwealth Edison Co [Member] \| Electric—transmission and distribution
Property, Plant and Equipment [Line Items]
Annual depreciation rate	3.00%	2.94%	2.95%
PECO Energy Co [Member] \| Electric—transmission and distribution
Property, Plant and Equipment [Line Items]
Annual depreciation rate	2.29%	2.28%	2.31%
PECO Energy Co [Member] \| Gas Distribution Equipment
Property, Plant and Equipment [Line Items]
Annual depreciation rate	1.87%	1.84%	1.85%
PECO Energy Co [Member] \| Common—electric and gas
Property, Plant and Equipment [Line Items]
Annual depreciation rate	6.31%	6.34%	6.39%
Baltimore Gas and Electric Company [Member] \| Electric—transmission and distribution
Property, Plant and Equipment [Line Items]
Annual depreciation rate	2.82%	2.80%	2.69%
Baltimore Gas and Electric Company [Member] \| Gas Distribution Equipment
Property, Plant and Equipment [Line Items]
Annual depreciation rate	2.53%	2.54%	2.56%
Baltimore Gas and Electric Company [Member] \| Common—electric and gas
Property, Plant and Equipment [Line Items]
Annual depreciation rate	8.20%	7.88%	7.45%
Pepco Holdings LLC [Member] \| Electric—transmission and distribution
Property, Plant and Equipment [Line Items]
Annual depreciation rate	2.96%	2.87%	2.81%
Pepco Holdings LLC [Member] \| Gas Distribution Equipment
Property, Plant and Equipment [Line Items]
Annual depreciation rate	1.45%	1.47%	1.50%
Pepco Holdings LLC [Member] \| Common—electric and gas
Property, Plant and Equipment [Line Items]
Annual depreciation rate	8.96%	8.33%	7.36%
Potomac Electric Power Company [Member] \| Electric—transmission and distribution
Property, Plant and Equipment [Line Items]
Annual depreciation rate	2.58%	2.56%	2.53%
Delmarva Power & Light Company [Member] \| Electric—transmission and distribution
Property, Plant and Equipment [Line Items]
Annual depreciation rate	3.08%	2.86%	2.85%
Delmarva Power & Light Company [Member] \| Gas Distribution Equipment
Property, Plant and Equipment [Line Items]
Annual depreciation rate	1.45%	1.47%	1.50%
Delmarva Power & Light Company [Member] \| Common—electric and gas
Property, Plant and Equipment [Line Items]
Annual depreciation rate	10.03%	8.69%	6.72%
Atlantic City Electric Company [Member] \| Electric—transmission and distribution
Property, Plant and Equipment [Line Items]
Annual depreciation rate	3.38%	3.21%	3.08%

Retirement Benefits - Benefit Obligations and Plan Assets in Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Pension Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Other current liabilities	$ 47	$ 20
Pension obligations	1,109	2,051
Non-pension postretirement benefit obligations	0	0
Unfunded status (net benefit obligation less plan assets)	1,156	2,071
Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Other current liabilities	26	26
Pension obligations	0	0
Non-pension postretirement benefit obligations	507	811
Unfunded status (net benefit obligation less plan assets)	$ 533	$ 837

Fair Value of Financial Assets and Liabilities (All Registrants)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities (All Registrants)

Exelon measures and classifies fair value measurements in accordance with the hierarchy as defined by GAAP. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows:

•Level 1 — quoted prices (unadjusted) in active markets for identical assets or liabilities that the Registrants have the ability to liquidate as of the reporting date.

•Level 2 — inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.

•Level 3 — unobservable inputs, such as internally developed pricing models or third-party valuations for the asset or liability due to little or no market activity for the asset or liability.

Fair Value of Financial Liabilities Recorded at Amortized Cost


	December 31, 2022								December 31, 2021
	Carrying Amount		Fair Value						Carrying Amount		Fair Value
			Level 2		Level 3		Total				Level 2		Level 3		Total
Long-Term Debt, including amounts due within one year(a)
Exelon	$	37,074	$	29,902	$	2,327	$	32,229	$	32,902	$	34,897	$	2,217	$	37,114
ComEd	10,518		9,006		—		9,006		9,773		11,305		—		11,305
PECO	4,612		3,864		50		3,914		4,197		4,740		50		4,790
BGE	4,207		3,613		—		3,613		3,961		4,406		—		4,406
PHI	8,120		4,507		2,277		6,784		7,547		5,970		2,167		8,137
Pepco	3,751		2,229		1,205		3,434		3,445		3,201		975		4,176
DPL	1,938		1,164		458		1,622		1,810		1,426		552		1,978
ACE	1,757		909		614		1,523		1,582		1,091		641		1,732
Long-Term Debt to Financing Trusts
Exelon	$	390	$	—	$	384	$	384	$	390	$	—	$	470	$	470
ComEd	205		—		204		204		205		—		248		248
PECO	184		—		180		180		184		—		222		222

__________

Exelon uses the following methods and assumptions to estimate fair value of financial liabilities recorded at carrying cost:


Type	Level	Registrants	Valuation
Long-Term Debt, including amounts due within one year
Taxable Debt Securities	2	All	The fair value is determined by a valuation model that is based on a conventional discounted cash flow methodology and utilizes assumptions of current market pricing curves. Exelon obtains credit spreads based on trades of existing Exelon debt securities as well as other issuers in the utility sector with similar credit ratings. The yields are then converted into discount rates of various tenors that are used for discounting the respective cash flows of the same tenor for each bond or note.
Variable Rate Financing Debt	2	Exelon, DPL	Debt rates are reset on a regular basis and the carrying value approximates fair value.
Taxable Private Placement Debt Securities	3	Exelon, Pepco, DPL, ACE	Rates are obtained similar to the process for taxable debt securities. Due to low trading volume and qualitative factors such as market conditions, low volume of investors, and investor demand, these debt securities are Level 3.
Non-Government Backed Fixed Rate Nonrecourse Debt	3	Exelon, Pepco	Fair value is based on market and quoted prices for its own and other nonrecourse debt with similar risk profiles. Given the low trading volume in the nonrecourse debt market, the price quotes used to determine fair value will reflect certain qualitative factors, such as market conditions, investor demand, new developments that might significantly impact the project cash flows or off-taker credit, and other circumstances related to the project.
Long-Term Debt to Financing Trusts
Long Term Debt to Financing Trusts	3	Exelon, ComEd, PECO	Fair value is based on publicly traded securities issued by the financing trusts. Due to low trading volume of these securities and qualitative factors, such as market conditions, investor demand, and circumstances related to each issue, this debt is classified as Level 3.

Recurring Fair Value Measurements

Exelon


	As of December 31, 2022								As of December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	664	$	—	$	—	$	664	$	524	$	—	$	—	$	524
Rabbi trust investments
Cash equivalents	62		—		—		62		60		—		—		60
Mutual funds	49		—		—		49		60		—		—		60
Fixed income	—		7		—		7		—		10		—		10
Life insurance contracts	—		58		40		98		—		61		37		98
Rabbi trust investments subtotal	111		65		40		216		120		71		37		228

Interest rate derivative assets
Derivatives designated as hedging instruments	—		6		—		6		—		—		—		—
Economic hedges	—		5		—		5		—		—		—		—
Interest rate derivative assets subtotal	—		11		—		11		—		—		—		—
Total assets	775		76		40		891		644		71		37		752
Liabilities
Mark-to-market derivative liabilities	—		—		(84)		(84)		—		—		(219)		(219)
Interest rate derivative liabilities
Derivatives designated as hedging instruments	—		(4)		—		(4)		—		—		—		—
Economic hedges	—		(3)		—		(3)		—		—		—		—
Interest rate derivative liabilities subtotal	—		(7)		—		(7)		—		—		—		—
Deferred compensation obligation	—		(75)		—		(75)		—		(131)		—		(131)
Total liabilities	—		(82)		(84)		(166)		—		(131)		(219)		(350)
Total net assets (liabilities)	$	775	$	(6)	$	(44)	$	725	$	644	$	(60)	$	(182)	$	402

__________

ComEd, PECO, and BGE


	ComEd								PECO								BGE
As of December 31, 2022	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	392	$	—	$	—	$	392	$	10	$	—	$	—	$	10	$	23	$	—	$	—	$	23
Rabbi trust investments
Mutual funds	—		—		—		—		7		—		—		7		7		—		—		7
Life insurance contracts	—		—		—		—		—		15		—		15		—		—		—		—
Rabbi trust investments subtotal	—		—		—		—		7		15		—		22		7		—		—		7

Total assets	392		—		—		392		17		15		—		32		30		—		—		30
Liabilities
Mark-to-market derivative liabilities(b)	—		—		(84)		(84)		—		—		—		—		—		—		—		—
Deferred compensation obligation	—		(8)		—		(8)		—		(7)		—		(7)		—		(4)		—		(4)
Total liabilities	—		(8)		(84)		(92)		—		(7)		—		(7)		—		(4)		—		(4)
Total net assets (liabilities)	$	392	$	(8)	$	(84)	$	300	$	17	$	8	$	—	$	25	$	30	$	(4)	$	—	$	26


	ComEd								PECO								BGE
As of December 31, 2021	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	237	$	—	$	—	$	237	$	9	$	—	$	—	$	9	$	—	$	—	$	—	$	—
Rabbi trust investments
Mutual funds	—		—		—		—		11		—		—		11		14		—		—		14
Life insurance contracts	—		—		—		—		—		16		—		16		—		—		—		—
Rabbi trust investments subtotal	—		—		—		—		11		16		—		27		14		—		—		14
Total assets	237		—		—		237		20		16		—		36		14		—		—		14
Liabilities
Mark-to-market derivative liabilities(b)	—		—		(219)		(219)		—		—		—		—		—		—		—		—
Deferred compensation obligation	—		(10)		—		(10)		—		(9)		—		(9)		—		(7)		—		(7)
Total liabilities	—		(10)		(219)		(229)		—		(9)		—		(9)		—		(7)		—		(7)
Total net assets (liabilities)	$	237	$	(10)	$	(219)	$	8	$	20	$	7	$	—	$	27	$	14	$	(7)	$	—	$	7

__________

PHI, Pepco, DPL, and ACE


	As of December 31, 2022								As of December 31, 2021
PHI	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	205	$	—	$	—	$	205	$	110	$	—	$	—	$	110
Rabbi trust investments
Cash equivalents	59		—		—		59		59		—		—		59
Mutual funds	11		—		—		11		14		—		—		14
Fixed income	—		7		—		7		—		10		—		10
Life insurance contracts	—		22		39		61		—		27		35		62
Rabbi trust investments subtotal	70		29		39		138		73		37		35		145
Total assets	275		29		39		343		183		37		35		255
Liabilities
Deferred compensation obligation	—		(14)		—		(14)		—		(18)		—		(18)
Total liabilities	—		(14)		—		(14)		—		(18)		—		(18)
Total net assets	$	275	$	15	$	39	$	329	$	183	$	19	$	35	$	237


	Pepco								DPL								ACE
As of December 31, 2022	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	51	$	—	$	—	$	51	$	121	$	—	$	—	$	121	$	1	$	—	$	—	$	1
Rabbi trust investments
Cash equivalents	59		—		—		59		—		—		—		—		—		—		—		—
Life insurance contracts	—		22		38		60		—		—		—		—		—		—		—		—
Rabbi trust investments subtotal	59		22		38		119		—		—		—		—		—		—		—		—
Total assets	110		22		38		170		121		—		—		121		1		—		—		1
Liabilities
Deferred compensation obligation	—		(1)		—		(1)		—		—		—		—		—		—		—		—



Total liabilities	—		(1)		—		(1)		—		—		—		—		—		—		—		—
Total net assets	$	110	$	21	$	38	$	169	$	121	$	—	$	—	$	121	$	1	$	—	$	—	$	1


	Pepco								DPL								ACE
As of December 31, 2021	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	31	$	—	$	—	$	31	$	43	$	—	$	—	$	43	$	—	$	—	$	—	$	—

Rabbi trust investments
Cash equivalents	58		—		—		58		—		—		—		—		—		—		—		—

Life insurance contracts	—		27		35		62		—		—		—		—		—		—		—		—
Rabbi trust investments subtotal	58		27		35		120		—		—		—		—		—		—		—		—
Total assets	89		27		35		151		43		—		—		43		—		—		—		—
Liabilities
Deferred compensation obligation	—		(2)		—		(2)		—		—		—		—		—		—		—		—



Total liabilities	—		(2)		—		(2)		—		—		—		—		—		—		—		—
Total net assets	$	89	$	25	$	35	$	149	$	43	$	—	$	—	$	43	$	—	$	—	$	—	$	—

__________

Reconciliation of Level 3 Assets and Liabilities

The following tables present the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis during the years ended December 31, 2022 and 2021:


	Exelon		ComEd			PHI and Pepco
For the year ended December 31, 2022	Total		Mark-to-Market Derivatives			Life Insurance Contracts
Balance as of December 31, 2021	$	(182)	$	(219)		$	35
Total realized / unrealized gains (losses)
Included in net income(a)	5		—			5
Included in regulatory assets/liabilities	135		135		(b)	—
Purchases, sales, and settlements
Settlements	—		—			—

Transfers out of Level 3	(2)		—			—
Balance as of December 31, 2022	$	(44)	$	(84)	(c)	$	40
The amount of total gains included in income attributed to the change in unrealized gains (losses) related to assets and liabilities as of December 31, 2022	5		$	—		$	5


	Exelon		ComEd			PHI and Pepco
For the year ended December 31, 2021	Total		Mark-to-Market Derivatives			Life Insurance Contracts
Balance as of December 31, 2020	$	(267)	$	(301)		$	34
Total realized / unrealized gains (losses)
Included in net income(a)	3		—			3
Included in regulatory assets/liabilities	82		82		(b)	—
Purchases, sales, and settlements
Settlements	(2)		—			(2)
Transfers into Level 3	2		—			—

Balance as of December 31, 2021	$	(182)	$	(219)		$	35
The amount of total gains included in income attributed to the change in unrealized gains (losses) related to assets and liabilities as of December 31, 2021	$	3	$	—		$	3

__________

(a)Classified in Operating and maintenance expense in the Consolidated Statements of Operations and Comprehensive Income.

Valuation Techniques Used to Determine Fair Value

Cash Equivalents (All Registrants). Investments with original maturities of three months or less when purchased, including mutual and money market funds, are considered cash equivalents. The fair values are based on observable market prices and, therefore, are included in the recurring fair value measurements hierarchy as Level 1.

Rabbi Trust Investments (Exelon, PECO, BGE, PHI, Pepco, DPL, and ACE). The Rabbi trusts were established to hold assets related to deferred compensation plans existing for certain active and retired members of Exelon’s executive management and directors. The Rabbi trusts' assets are included in investments in the Registrants’ Consolidated Balance Sheets and consist primarily of money market funds, mutual funds, fixed

income securities, and life insurance policies. Money market funds and mutual funds are publicly quoted and have been categorized as Level 1 given the clear observability of the prices. The fair values of fixed income securities are based on evaluated prices that reflect observable market information, such as actual trade information or similar securities, adjusted for observable differences and are categorized in Level 2. The life insurance policies are valued using the cash surrender value of the policies, net of loans against those policies, which is provided by a third-party. Certain life insurance policies, which consist primarily of mutual funds that are priced based on observable market data, have been categorized as Level 2 because the life insurance policies can be liquidated at the reporting date for the value of the underlying assets. Life insurance policies that are valued using unobservable inputs have been categorized as Level 3, where the fair value is determined based on the cash surrender value of the policy, which contains unobservable inputs and assumptions. Because Exelon relies on its third-party insurance provider to develop the inputs without adjustment for the valuations of its Level 3 investments, quantitative information about significant unobservable inputs used in valuing these investments is not reasonably available to Exelon. Therefore, Exelon has not disclosed such inputs.

Interest Rate Derivatives (Exelon) Exelon may utilize fixed-to-floating or floating-to-fixed interest rate swaps as a means to manage interest rate risk. These interest rate swaps are typically accounted for as economic hedges. In addition, Exelon may utilize interest rate derivatives to lock in interest rate levels in anticipation of future financings. These interest rate derivatives are typically designated as cash flow hedges. Exelon determines the current fair value by calculating the net present value of expected payments and receipts under the swap agreement, based on and discounted by the market's expectation of future interest rates. Additional inputs to the net present value calculation may include the contract terms, counterparty credit risk and other market parameters. As these inputs are based on observable data and valuations of similar instruments, the interest rate swaps are categorized as Level 2 in the fair value hierarchy. See Note 15 — Derivative Financial Instruments for additional information on mark-to-market derivatives.

Deferred Compensation Obligations (All Registrants). The Registrants’ deferred compensation plans allow participants to defer certain cash compensation into a notional investment account. The Registrants include such plans in other current and noncurrent liabilities in their Consolidated Balance Sheets. The value of the Registrants’ deferred compensation obligations is based on the market value of the participants’ notional investment accounts. The underlying notional investments are comprised primarily of equities, mutual funds, commingled funds, and fixed income securities which are based on directly and indirectly observable market prices. Since the deferred compensation obligations themselves are not exchanged in an active market, they are categorized as Level 2 in the fair value hierarchy.

The value of certain employment agreement obligations (which are included with the Deferred Compensation Obligation in the tables above) are based on a known and certain stream of payments to be made over time and are categorized as Level 2 within the fair value hierarchy.

Mark-to-Market Derivatives (Exelon and ComEd). On December 17, 2010, ComEd entered into several 20-year floating to fixed energy swap contracts with unaffiliated suppliers for the procurement of long-term renewable energy and associated RECs. Delivery under the contracts began in June 2012. The fair value of these swaps has been designated as a Level 3 valuation due to the long tenure of the positions and the internal modeling assumptions. The modeling assumptions include using forward power prices. See Note 15 — Derivative Financial Instruments for additional information on mark-to-market derivatives.

The following table discloses the significant unobservable inputs to the forward curve used to value mark-to-market derivatives:


Type of trade	Fair Value as of December 31, 2022		Fair Value as of December 31, 2021		Valuation Technique	Unobservable Input	2022 Range & Arithmetic Average							2021 Range & Arithmetic Average
Mark-to-market derivatives	$	(84)	$	(219)	Discounted Cash Flow	Forward power price(a)	$	34.78	-	$	75.71	$	48.44	$	28.65	-	$	47.10	$	33.96

__________

(a)An increase to the forward power price would increase the fair value.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Short-term and Long-term Debt [Line Items]

Debt and Credit Agreements (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Commercial Paper Borrowings

The following table reflects the Registrants' commercial paper programs supported by the revolving credit agreements and bilateral credit agreements as of December 31, 2022 and 2021:


	Credit Facility Size as of December 31,					Outstanding Commercial Paper as of December 31,				Average Interest Rate on Commercial Paper Borrowings as of December 31,
Commercial Paper Issuer	2022(a)			2021(a)		2022		2021		2022		2021
Exelon(b)	$	4,000		$	3,700	$	1,938	$	599	4.77	%	0.35	%
ComEd	1,000			1,000		427		—		4.71	%	—	%
PECO	600			600		239		—		4.71	%	—	%
BGE	600			600		409		130		4.81	%	0.37	%
PHI(c)	900			900		414		469		4.78	%	0.35	%
Pepco	300		(d)	300		299		175		4.79	%	0.33	%
DPL	300		(d)	300		115		149		4.76	%	0.36	%
ACE	300		(d)	300		—		145		—	%	0.35	%

__________

(a)Excludes credit facility agreements arranged at minority and community banks. See below for additional information.

(b)Includes revolving credit agreements at Exelon Corporate with a maximum program size of $900 million and $600 million as of December 31, 2022 and December 31, 2021, respectively. Exelon Corporate had $449 million in outstanding commercial paper as of December 31, 2022 and no outstanding commercial paper as of December 31, 2021.

(c)Represents the consolidated amounts of Pepco, DPL, and ACE.

(d)The standard maximum program size for revolving credit facilities is $300 million each for Pepco, DPL and ACE based on the credit agreements in place. However, the facilities at Pepco, DPL, and ACE have the ability to flex to $500 million, $500 million, and $350 million, respectively. The borrowing capacity may be increased or decreased during the term of the facility, except that (i) the sum of the borrowing capacity must equal the total amount of the facility, and (ii) the aggregate amount of credit used at any given time by each of Pepco, DPL, or ACE may not exceed $900 million or the maximum amount of short-term debt the company is permitted to have outstanding by its regulatory authorities. The total number of the borrowing reallocations may not exceed eight per year during the term of the facility. As of December 23, 2022, this ability was utilized to increase Pepco's program size to $400 million. As a result, the program sizes for DPL and ACE were decreased to $250 million each, which prevents the aggregate amount of outstanding short-term debt from potentially exceeding the $900 million limit.

Schedule of Aggregate Bank Commitments, Credit Facility Borrowings, and Available Capacity

As of December 31, 2022, the Registrants had the following aggregate bank commitments, credit facility borrowings, and available capacity under their respective credit facilities:


								Available Capacity as of December 31, 2022
Borrower(a)	Facility Type	Aggregate Bank Commitment(b)		Facility Draws		Outstanding Letters of Credit		Actual		To Support Additional Commercial Paper(c)
Exelon(c)	Syndicated Revolver	$	4,000	$	—	$	8	$	3,992	$	2,054
ComEd	Syndicated Revolver	1,000		—		5		995		568
PECO	Syndicated Revolver	600		—		—		600		361
BGE	Syndicated Revolver	600		—		—		600		191
PHI(d)	Syndicated Revolver	900		—		—		900		486
Pepco	Syndicated Revolver	300		—		—		300		1
DPL	Syndicated Revolver	300		—		—		300		185
ACE	Syndicated Revolver	300		—		—		300		300

__________

(a)On February 1, 2022, Exelon Corporate and the Utility Registrants' respective syndicated revolving credit facilities were replaced with a new 5-year revolving credit facility.

(b)Excludes credit facility agreements arranged at minority and community banks. See below for additional information.

(c)Includes $900 million aggregate bank commitment related to Exelon Corporate. Exelon Corporate had $3 million outstanding letters of credit as of December 31, 2022. Exelon Corporate had $448 million in available capacity to support additional commercial paper as of December 31, 2022.

(d)Represents the consolidated amounts of Pepco, DPL, and ACE.

Schedule of Basis Spread

Borrowings under Exelon’s, ComEd’s, PECO’s, BGE's, Pepco's, DPL's, and ACE's revolving credit agreements bear interest at a rate based upon either the prime rate or a SOFR-based rate, plus an adder based upon the particular Registrant’s credit rating. The adders for the prime based borrowings and SOFR-based borrowings are presented in the following table:


	Exelon(a)	ComEd	PECO	BGE	Pepco	DPL	ACE
Prime based borrowings	0 - 27.5	—	—	—	7.5	—	7.5
SOFR-based borrowings	90.0 - 127.5	100.0	90.0	90.0	107.5	100.0	107.5

__________

(a)Includes interest rate adders at Exelon Corporate of 27.5 basis points and 127.5 basis points for prime and SOFR-based borrowings, respectively.

Schedule of long-term debt instruments

Long-Term Debt

The following tables present the outstanding long-term debt at the Registrants as of December 31, 2022 and 2021:

Exelon


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt

First mortgage bonds(a)(b)	1.05	%	-	7.90	%	2023 - 2052	$	22,651	$	20,751
Senior unsecured notes	2.75	%	-	7.60	%	2025 - 2052	8,324		6,324
Unsecured notes	2.25	%	-	6.35	%	2023 - 2052	4,250		4,000

Notes payable and other	1.64	%	-	7.49	%	2025 - 2053	86		86
Junior subordinated notes				3.50	%	2022	—		1,150

Long-term software licensing agreement	2.30	%	-	3.95	%	2024 - 2025	25		9
Unsecured tax-exempt bonds	4.00	%	-	4.05	%	2024	33		143
Medium-terms notes (unsecured)				7.72	%	2027	10		10
Loan agreement	2.00	%		5.15	%	2023 - 2024	1,400		50
Total long-term debt							36,779		32,523
Unamortized debt discount and premium, net							(74)		(70)
Unamortized debt issuance costs							(257)		(220)
Fair value adjustment							626		669

Long-term debt due within one year(c)							(1,802)		(2,153)
Long-term debt							$	35,272	$	30,749
Long-term debt to financing trusts(d)
Subordinated debentures to ComEd Financing III				6.35	%	2033	$	206	$	206
Subordinated debentures to PECO Trust III	7.38	%	-	9.50	%	2028	81		81
Subordinated debentures to PECO Trust IV				5.75	%	2033	103		103

Total long-term debt to financing trusts							$	390	$	390

__________

(a)Substantially all of ComEd’s assets other than expressly excepted property and substantially all of PECO’s, Pepco's, DPL's, and ACE's assets are subject to the liens of their respective mortgage indentures.

(b)On January 3, 2023, ComEd entered into a purchase agreement of First Mortgage Bonds of $400 million and $575 million at 4.90% and 5.30% due on February 1, 2033 and February 1, 2053, respectively. The closing date of the issuance occurred on January 10, 2023.

(c)In connection with the separation, Exelon Corporate entered into three 18-month term loan agreements. On January 21, 2022, two of the loan agreements were issued for $300 million each with an expiration date of July 21, 2023. On January 24, 2022, the third loan agreement was issued for $250 million with an expiration date of July 24, 2023. Pursuant to the loan agreement, loans made thereunder bear interest at a variable rate equal to SOFR plus 0.65%.

(d)Amounts owed to these financing trusts are recorded as Long-term debt to financing trusts within Exelon’s Consolidated Balance Sheets.

ComEd


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
First mortgage bonds(a)(b)	2.20	%	-	6.45	%	2024 - 2052	$	10,629	$	9,879
Other				7.49	%	2053	8		8
Total long-term debt							10,637		9,887
Unamortized debt discount and premium, net							(27)		(27)
Unamortized debt issuance costs							(92)		(87)

Long-term debt							$	10,518	$	9,773
Long-term debt to financing trust(c)
Subordinated debentures to ComEd Financing III				6.35	%	2033	$	206	$	206
Total long-term debt to financing trusts							206		206
Unamortized debt issuance costs							(1)		(1)
Long-term debt to financing trusts							$	205	$	205

__________

(a)Substantially all of ComEd’s assets, other than expressly excepted property, are subject to the lien of its mortgage indenture.

(c)Amount owed to this financing trust is recorded as Long-term debt to financing trust within ComEd’s Consolidated Balance Sheets.

PECO


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
First mortgage bonds(a)	2.80	%	-	5.95	%	2025 - 2052	$	4,625	$	4,200
Loan agreement				2.00	%	2023	50		50
Total long-term debt							4,675		4,250
Unamortized debt discount and premium, net							(24)		(20)
Unamortized debt issuance costs							(39)		(33)
Long-term debt due within one year							(50)		(350)
Long-term debt							$	4,562	$	3,847
Long-term debt to financing trusts(b)
Subordinated debentures to PECO Trust III	7.38	%	-	9.50	%	2028	$	81	$	81
Subordinated debentures to PECO Trust IV				5.75	%	2033	103		103


Long-term debt to financing trusts							$	184	$	184

__________

(a)Substantially all of PECO’s assets are subject to the lien of its mortgage indenture.

(b)Amounts owed to this financing trust are recorded as Long-term debt to financing trusts within PECO’s Consolidated Balance Sheets.

BGE


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt

Unsecured notes	2.25	%	-	6.35	%	2023 - 2052	$	4,250	$	4,000
Total long-term debt							4,250		4,000
Unamortized debt discount and premium, net							(13)		(12)
Unamortized debt issuance costs							(30)		(27)
Long-term debt due within one year							(300)		(250)
Long-term debt							$	3,907	$	3,711

PHI


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
First mortgage bonds(a)	1.05	%	-	7.90	%	2023 - 2052	$	7,397	$	6,672
Senior unsecured notes				7.45	%	2032	185		185
Unsecured tax-exempt bonds	4.00	%	-	4.05	%	2024	33		143
Medium-terms notes (unsecured)				7.72	%	2027	10		10
Finance leases				5.59	%	2025 - 2030	76		74
Other(b)	7.28	%	-	7.49	%	2022	—		—
Total long-term debt							7,701		7,084
Unamortized debt discount and premium, net							4		4
Unamortized debt issuance costs							(47)		(36)
Fair value adjustment							462		495
Long-term debt due within one year							(591)		(399)
Long-term debt							$	7,529	$	7,148

_________

(a)Substantially all of Pepco's, DPL's, and ACE's assets are subject to the liens of their respective mortgage indentures.

(b)The amount in the Other category was zero and less than $1 million as of December 31, 2022 and December 31, 2021, respectively.

Pepco


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
First mortgage bonds(a)	2.32	%	-	7.90	%	2024 - 2052	$	3,775	$	3,350
Unsecured tax-exempt bonds				1.70	%	2022	—		110
Finance leases				5.59	%	2025 - 2029	25		26
Other(b)	7.28	%	-	7.49	%	2022	—		—
Total long-term debt							3,800		3,486
Unamortized debt discount and premium, net							2		2
Unamortized debt issuance costs							(51)		(43)
Long-term debt due within one year							(4)		(313)
Long-term debt							$	3,747	$	3,132

________

(a)Substantially all of Pepco's assets are subject to the lien of its mortgage indenture.

(b)The amount in the Other category was zero and less than $1 million as of December 31, 2022 and December 31, 2021, respectively.

DPL


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
First mortgage bonds(a)	1.05	%	-	4.27	%	2023 - 2052	$	1,874	$	1,749
Unsecured tax-exempt bonds	4.00	%	-	4.05	%	2024	33		33
Medium-terms notes (unsecured)				7.72	%	2027	10		10
Finance leases				5.39	%	2025 - 2030	32		29
Total long-term debt							1,949		1,821
Unamortized debt discount and premium, net(b)							—		—
Unamortized debt issuance costs							(11)		(11)
Long-term debt due within one year							(584)		(83)
Long-term debt							$	1,354	$	1,727

__________

(a)Substantially all of DPL's assets are subject to the lien of its mortgage indenture.

(b)The amount in the Unamortized debt discount and premium, net category was less than $1 million as of December 31, 2022 and 2021.

ACE


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
First mortgage bonds(a)	2.25	%	-	5.80	%	2024 - 2052	$	1,748	$	1,573
Finance leases				5.59	%	2025 - 2030	19		19
Total long-term debt							1,767		1,592
Unamortized debt discount and premium, net							(1)		(1)
Unamortized debt issuance costs							(9)		(9)
Long-term debt due within one year							(3)		(3)
Long-term debt							$	1,754	$	1,579

__________

(a)Substantially all of ACE's assets are subject to the lien of its mortgage indenture.

Schedule of maturities of long-term debt

Long-term debt maturities at the Registrants in the periods 2023 through 2027 and thereafter are as follows:


Year	Exelon			ComEd			PECO			BGE		PHI		Pepco		DPL		ACE
2023	$	1,802		$	—		$	50		$	300	$	591	$	4	$	584	$	3
2024	1,317			250			—			—		564		405		6		153
2025	1,414			—			350			—		242		5		84		153
2026	1,613			500			—			350		13		4		6		3
2027	1,021			350			—			—		21		3		15		3
Thereafter	30,002		(a)	9,743		(b)	4,459		(c)	3,600		6,270		3,379		1,254		1,452
Total	$	37,169		$	10,843		$	4,859		$	4,250	$	7,701	$	3,800	$	1,949	$	1,767

__________

(a)Includes $390 million due to ComEd and PECO financing trusts.

(b)Includes $206 million due to ComEd financing trust.

(c)Includes $184 million due to PECO financing trusts.

Community and Minority Facilities [Member]

Short-term and Long-term Debt [Line Items]

Schedule of Aggregate Bank Commitments, Credit Facility Borrowings, and Available Capacity

The following table reflects the Registrants' credit facility agreements arranged at minority and community banks as of December 31, 2022 and 2021. These are excluded from the Maximum Program Size and Aggregate Bank Commitment amounts within the two tables above and the facilities are solely used to issue letters of credit.


	Aggregate Bank Commitments				Outstanding Letters of Credit
Borrower	2022(a)		2021		2022		2021
Exelon(b)	$	140	$	98	$	10	$	8
ComEd	40		33		7		5
PECO	40		33		1		1
BGE	15		8		2		2
PHI(c)	45		24		—		—
Pepco	15		8		—		—
DPL	15		8		—		—
ACE	15		8		—		—

__________

(a)These facilities were entered into on October 7, 2022 and expire on October 6, 2023.

(b)Represents the consolidated amounts of ComEd, PECO, BGE, Pepco, DPL, and ACE.

(c)Represents the consolidated amounts of Pepco, DPL, and ACE.

Revolving Credit Facility [Member]

Short-term and Long-term Debt [Line Items]

Schedule of Aggregate Bank Commitments, Credit Facility Borrowings, and Available Capacity

Revolving Credit Agreements

On February 1, 2022, Exelon Corporate and the Utility Registrants each entered into a new 5-year revolving credit facility that replaced its existing syndicated revolving credit facility. The following table reflects the credit agreements:


Borrower	Aggregate Bank Commitment		Interest Rate
Exelon Corporate	$	900	SOFR plus 1.275	%
ComEd	1,000		SOFR plus 1.000	%
PECO	600		SOFR plus 0.900	%
BGE	600		SOFR plus 0.900	%
Pepco	300		SOFR plus 1.075	%
DPL	300		SOFR plus 1.000	%
ACE	300		SOFR plus 1.075	%

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Discontinued Operations - Income Statement

Discontinued Operations (Tables) - Exelon Generation Co L L C [Member]

12 Months Ended

Dec. 31, 2022

Business Dispositions [Line Items]

The following table presents the results of Constellation that have been reclassified from continuing operations and included in discontinued operations within Exelon’s Consolidated Statements of Operations and Comprehensive Income for the years ended December 31, 2022, 2021, and 2020.

These results are primarily Generation, which is comprised of Exelon’s Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions reportable segments, and include the impact of transaction costs, certain BSC costs, including any transition costs, that were historically allocated and directly attributable to Generation, transactions between Generation and the Utility Registrants, and tax-related adjustments. Transaction costs include costs for external bankers, accountants, appraisers, lawyers, external counsels and other advisors, among others, who were involved in the negotiation, appraisal, due diligence and regulatory approval of the separation. Transition costs are primarily employee-related costs such as recruitment expenses, costs to establish certain stand-alone functions and information technology systems, professional services fees, and other separation-related costs during the transition to separate Generation. For the purposes of reporting discontinued operations, these results also include transactions between Generation and the Utility Registrants that were historically eliminated within Exelon’s Consolidated Statements of Operations, as these transactions will be ongoing after the separation. Certain BSC costs that were historically allocated to Generation are presented as part of continuing operations in

Exelon’s Consolidated Statements of Operations as these costs do not qualify as expenses of the discontinued operations per the accounting rules.


	For the Years Ended December 31,
	2022		2021		2020
Operating revenues
Competitive business revenues	$	1,855	$	18,466	$	16,399
Competitive business revenues from affiliates	161		1,189		1,206
Total operating revenues	2,016		19,655		17,605
Operating expenses
Competitive businesses purchased power and fuel	1,138		12,163		9,585
Operating and maintenance(a)	371		4,174		4,794
Depreciation and amortization	94		3,003		2,123
Taxes other than income taxes	44		475		482
Total operating expenses	1,647		19,815		16,984
Gain on sales of assets and businesses	10		201		11
Operating income	379		41		632
Other income and (deductions)
Interest expense, net	(20)		(282)		(328)
Other, net	(281)		795		937
Total other (deductions) and income	(301)		513		609
Income before income taxes	78		554		1,241
Income taxes	(40)		332		380
Equity in losses of unconsolidated affiliates	(1)		(9)		(6)
Net income	117		213		855
Net income (loss) attributable to noncontrolling interests	1		123		(9)
Net income from discontinued operations	$	116	$	90	$	864

__________

(a)Includes transaction and transition costs related to the separation of $52 million and $43 million for the years ended December 31, 2022 and 2021, respectively. There were no separation related costs incurred in 2020. See discussion above for additional information.

Discontinued Operations - Balance Sheet

The following table presents the assets and liabilities of discontinued operations in Exelon’s Consolidated Balance Sheets as of December 31, 2021.


	December 31, 2021
ASSETS
Current assets
Cash and cash equivalents	$	510
Restricted cash and cash equivalents	72
Accounts receivable
Customer accounts receivable	1,724
Customer allowance for credit losses	(55)
Customer accounts receivable, net	1,669
Other accounts receivable	596
Other allowance for credit losses	(4)
Other accounts receivable, net	592
Mark-to-market derivative assets	2,169
Inventories, net
Fossil fuel and emission allowances	284
Materials and supplies	1,004
Renewable energy credits	529
Assets held for sale	13
Other	993
Total current assets of discontinued operations	7,835
Property, plant, and equipment (net of accumulated depreciation and amortization of $15,888)	19,661
Deferred debits and other assets
Nuclear decommissioning trust funds	15,938
Investments	193
Mark-to-market derivative assets	949
Other	1,768
Total property, plant, and equipment, deferred debits, and other assets of discontinued operations	38,509
Total assets of discontinued operations	$	46,344


	December 31, 2021
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Short-term borrowings	$	2,082
Long-term debt due within one year	1,220
Accounts payable	1,757
Accrued expenses	818
Mark-to-market derivative liabilities	981
Renewable energy credit obligation	779
Liabilities held for sale	3
Other	300
Total current liabilities of discontinued operations	7,940
Long-term debt	4,575
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	3,583
Asset retirement obligations	12,819
Pension obligations	939
Non-pension postretirement benefit obligations	876
Spent nuclear fuel obligation	1,210
Mark-to-market derivative liabilities	513
Other	1,161
Total long-term debt, deferred credits, and other liabilities of discontinued operations	25,676
Total liabilities of discontinued operations	$	33,616

Discontinued Operations - Cash Flows

The following table presents selected financial information regarding cash flows of the discontinued operations that are included within Exelon’s Consolidated Statements of Cash Flows for the years ended December 31, 2022, 2021, and 2020.


	For the Years Ended December 31,
	2022		2021		2020
Non-cash items included in net income from discontinued operations:
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization	$	207	$	4,540	$	3,636
Asset impairments	—		545		563
Loss (gain) on sales of assets and businesses	9		(201)		(11)
Deferred income taxes and amortization of investment tax credits	(143)		(224)		94
Net fair value changes related to derivatives	(59)		(568)		(270)
Net realized and unrealized losses (gains) on NDT fund investments	205		(586)		(461)
Net unrealized losses (gains) on equity investments	16		160		(186)
Other decommissioning-related activity	36		(946)		(659)
Cash flows from investing activities:
Capital expenditures	(227)		(1,341)		(1,759)
Collection of DPP	169		3,902		3,771
Supplemental cash flow information:
(Decrease) increase in capital expenditures not paid	(128)		96		(88)
Increase in DPP	348		3,652		4,441
Increase in PP&E related to ARO update	335		618		850

Retirement Benefits - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amortization of:
Non-service net periodic benefit cost	$ 63	$ 91	$ 53
Pension Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	236	294	251
Interest cost	439	406	476
Expected return on assets	(822)	(843)	(796)
Amortization of:
Prior service cost (credit)	2	2	3
Actuarial loss	295	399	349
Curtailment benefits	0	0	0
Settlement and other charges	0	7	6
Non-service net periodic benefit cost	150	265	289
Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	41	51	56
Interest cost	76	69	93
Expected return on assets	(99)	(99)	(101)
Amortization of:
Prior service cost (credit)	(19)	(25)	(76)
Actuarial loss	12	27	34
Curtailment benefits	0	0	(1)
Settlement and other charges	0	1	1
Non-service net periodic benefit cost	$ 11	$ 24	$ 6

Commitments and Contingencies - Schedule of PHI Merger Commitments (Details) $ in Millions	Dec. 31, 2022 USD ($)
PHI Merger Commitments [Line Items]
Other Commitment	$ 631
PEPCO Holdings Inc [Member]
PHI Merger Commitments [Line Items]
Other Commitment	513
Pepco Holdings LLC [Member]
PHI Merger Commitments [Line Items]
Other Commitment	125
Pepco Holdings LLC [Member] \| PEPCO Holdings Inc [Member]
PHI Merger Commitments [Line Items]
Other Commitment	320
Potomac Electric Power Company [Member]
PHI Merger Commitments [Line Items]
Other Commitment	94
Potomac Electric Power Company [Member] \| PEPCO Holdings Inc [Member]
PHI Merger Commitments [Line Items]
Other Commitment	120
Delmarva Power & Light Company [Member]
PHI Merger Commitments [Line Items]
Other Commitment	19
Delmarva Power & Light Company [Member] \| PEPCO Holdings Inc [Member]
PHI Merger Commitments [Line Items]
Other Commitment	89
Atlantic City Electric Company [Member]
PHI Merger Commitments [Line Items]
Other Commitment	12
Atlantic City Electric Company [Member] \| PEPCO Holdings Inc [Member]
PHI Merger Commitments [Line Items]
Other Commitment	111
Remaining Commitment [Member] \| PEPCO Holdings Inc [Member]
PHI Merger Commitments [Line Items]
Other Commitment	52
Remaining Commitment [Member] \| Pepco Holdings LLC [Member] \| PEPCO Holdings Inc [Member]
PHI Merger Commitments [Line Items]
Other Commitment	45
Remaining Commitment [Member] \| Potomac Electric Power Company [Member] \| PEPCO Holdings Inc [Member]
PHI Merger Commitments [Line Items]
Other Commitment	39
Remaining Commitment [Member] \| Delmarva Power & Light Company [Member] \| PEPCO Holdings Inc [Member]
PHI Merger Commitments [Line Items]
Other Commitment	4
Remaining Commitment [Member] \| Atlantic City Electric Company [Member] \| PEPCO Holdings Inc [Member]
PHI Merger Commitments [Line Items]
Other Commitment	$ 2

Debt and Credit Agreements - Commercial Paper Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 23, 2022	Feb. 01, 2022	Jan. 31, 2022	Dec. 31, 2021
Commercial Paper
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	$ 4,000				$ 3,700
Commercial Paper	$ 1,938				$ 599
Average interest rate on commercial paper borrowings	4.77%				0.35%
Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	$ 4,000
Line of credit facility, remaining borrowing capacity	3,992
Corporate, Non-Segment [Member] \| Commercial Paper
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	900				$ 600
Commercial Paper	449				0
Corporate, Non-Segment [Member] \| Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	900		$ 900	$ 600
Line of credit facility, remaining borrowing capacity	448
Commonwealth Edison Co [Member] \| Commercial Paper
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	1,000				1,000
Commercial Paper	$ 427				$ 0
Average interest rate on commercial paper borrowings	4.71%				0.00%
Commonwealth Edison Co [Member] \| Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,000		1,000
Line of credit facility, remaining borrowing capacity	995
PECO Energy Co [Member] \| Commercial Paper
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	600				$ 600
Commercial Paper	$ 239				$ 0
Average interest rate on commercial paper borrowings	4.71%				0.00%
PECO Energy Co [Member] \| Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600		600
Line of credit facility, remaining borrowing capacity	600
Baltimore Gas and Electric Company [Member] \| Commercial Paper
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	600				$ 600
Commercial Paper	$ 409				$ 130
Average interest rate on commercial paper borrowings	4.81%				0.37%
Baltimore Gas and Electric Company [Member] \| Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600		600
Line of credit facility, remaining borrowing capacity	600
Pepco Holdings LLC [Member] \| Commercial Paper
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	900				$ 900
Commercial Paper	$ 414				$ 469
Average interest rate on commercial paper borrowings	4.78%				0.35%
Pepco Holdings LLC [Member] \| Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	$ 900
Line of credit facility, remaining borrowing capacity	900
Potomac Electric Power Company [Member] \| Commercial Paper
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	300	$ 400			$ 300
Commercial Paper	$ 299				$ 175
Average interest rate on commercial paper borrowings	4.79%				0.33%
Line of credit facility, remaining borrowing capacity	$ 500
Potomac Electric Power Company [Member] \| Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	300		300
Line of credit facility, remaining borrowing capacity	300
Delmarva Power & Light Company [Member] \| Commercial Paper
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	300				$ 300
Commercial Paper	$ 115				$ 149
Average interest rate on commercial paper borrowings	4.76%				0.36%
Line of credit facility, remaining borrowing capacity	$ 500
Delmarva Power & Light Company [Member] \| Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	300		300
Line of credit facility, remaining borrowing capacity	300
Atlantic City Electric Company [Member] \| Commercial Paper
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	300	250			$ 300
Commercial Paper	$ 0				$ 145
Average interest rate on commercial paper borrowings	0.00%				0.35%
Line of credit facility, remaining borrowing capacity	$ 350
Atlantic City Electric Company [Member] \| Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	300		$ 300
Line of credit facility, remaining borrowing capacity	$ 300
Delmarva Power & Light Co \| Commercial Paper
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		$ 250

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Allowance for Credit Losses Rollforward

The following tables present the rollforward of Allowance for Credit Losses on Customer Accounts Receivable.


	Year Ended December 31, 2022
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2021	$	320	$	73	$	105	$	38	$	104	$	37	$	18	$	49
Plus: Current period provision for expected credit losses(a)(b)	176		29		52		37		58		31		12		15
Less: Write-offs, net(c)(d)(e) of recoveries(f)	169		43		52		21		53		21		9		23

Balance as of December 31, 2022	$	327	$	59	$	105	$	54	$	109	$	47	$	21	$	41

	Year Ended December 31, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2020	$	334	$	97	$	116	$	35	$	86	$	32	$	22	$	32
Plus: Current period provision for expected credit losses	96		21		23		15		37		13		6		18
Less: Write-offs, net of recoveries	110		45		34		12		19		8		10		1
Balance as of December 31, 2021	$	320	$	73	$	105	$	38	$	104	$	37	$	18	$	49

_________

(a)For PECO, BGE, Pepco and DPL, the change in current period provision for expected credit losses is primarily a result of increased receivable balances.

(b)For ACE, the change in current period provision for expected credit losses is primarily a result of decreased receivable balances.

(c)For PECO, the change in write-offs is primarily a result of increased disconnection activities.

(d)For PHI, Pepco and ACE, the change in write-offs is primarily related to the termination of the moratoriums in the District of Columbia and New Jersey, which beginning in March 2020, prevented customer disconnections for non-payment. With disconnection activities restarting in January 2022, write-offs of aging accounts receivable increased during the year.

(e)For DPL, the change in write-offs is primarily a result of favorable customer payment behavior.

(f)Recoveries were not material to the Registrants.

The following tables present the rollforward of Allowance for Credit Losses on Other Accounts Receivable.


	Year Ended December 31, 2022
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2021	$	72	$	17	$	7	$	9	$	39	$	16	$	8	$	15
Plus: Current period provision (benefit) for expected credit losses	26		3		6		6		11		9		(1)		3
Less: Write-offs, net of recoveries(a)	16		3		4		5		4		—		—		4
Balance as of December 31, 2022	$	82	$	17	$	9	$	10	$	46	$	25	$	7	$	14

	Year Ended December 31, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2020	$	71	$	21	$	8	$	9	$	33	$	13	$	9	$	11
Plus: Current period provision (benefit) for expected credit losses	11		(2)		3		4		6		3		(1)		4
Less: Write-offs, net of recoveries	10		2		4		4		—		—		—		—
Balance as of December 31, 2021	$	72	$	17	$	7	$	9	$	39	$	16	$	8	$	15

_________

(a)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, 2022 and 2021.


	Unbilled customer revenues(a)
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
December 31, 2022	$	912	$	223	$	219	$	247	$	223	$	103	$	74	$	46
December 31, 2021	747		240		161		171		175		82		53		40

_________

(a)Unbilled customer revenues are classified in Customer accounts receivables, net in the Registrants' Consolidated Balance Sheets.

Purchases and Sales of Accounts Receivable

The following tables present the total receivables purchased.


	Total receivables purchased
	Exelon(a)		ComEd(a)		PECO(a)		BGE(a)		PHI		Pepco		DPL		ACE
Year ended December 31, 2022	$	3,981	$	965	$	1,081	$	792	$	1,143	$	723	$	205	$	215
Year ended December 31, 2021	$	3,840	$	1,031	$	1,041	$	687	$	1,081	$	660	$	217	$	204

_________

(a)For BGE, includes $4 million of receivables purchased from Generation prior to the separation on February 1, 2022 for the year ended December 31, 2022. For ComEd, PECO, and BGE, includes $1 million, $1 million, and $21 million of receivables purchased from Generation, respectively, for the year ended December 31, 2021.

Lessee - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental Cash Flow Information [Line Items]
Operating cash flows from operating leases	$ 66	$ 93	$ 67
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	46	1	(2)
Commonwealth Edison Co [Member]
Supplemental Cash Flow Information [Line Items]
Operating cash flows from operating leases	3	3	3
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	0	0	0
PECO Energy Co [Member]
Supplemental Cash Flow Information [Line Items]
Operating cash flows from operating leases	0	0	1
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	0	0	1
Baltimore Gas and Electric Company [Member]
Supplemental Cash Flow Information [Line Items]
Operating cash flows from operating leases	16	46	20
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	0	(1)	0
Pepco Holdings LLC [Member]
Supplemental Cash Flow Information [Line Items]
Operating cash flows from operating leases	37	39	39
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	2	1	(1)
Finance Lease, Principal Payments	13	10	6
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	14	32	29
Potomac Electric Power Company [Member]
Supplemental Cash Flow Information [Line Items]
Operating cash flows from operating leases	8	8	8
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	0	0	0
Finance Lease, Principal Payments	5	3	2
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	4	12	8
Delmarva Power & Light Company [Member]
Supplemental Cash Flow Information [Line Items]
Operating cash flows from operating leases	9	9	9
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	1	1	(1)
Finance Lease, Principal Payments	5	4	3
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	7	12	14
Atlantic City Electric Company [Member]
Supplemental Cash Flow Information [Line Items]
Operating cash flows from operating leases	4	4	4
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	1	0	0
Finance Lease, Principal Payments	3	3	1
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 3	$ 8	$ 7

Retirement Benefits- Projected Benefit Obligations and Accumulated Benefit Obligations in Excess of Plan Assets (Details) - Accumulated Benefit Obligation In Excess Of Plan Assets [Member] - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
ABO	$ 10,108	$ 13,497
Fair value of net plan assets	$ 9,427	$ 12,165

Jointly Owned Electric Utility Plant (Tables)

12 Months Ended

Dec. 31, 2022

Public Utilities, Property, Plant and Equipment [Abstract]

Schedule of Jointly Owned Utility Plants

PECO's, DPL's, and ACE's material undivided ownership interests in jointly owned electric plants and transmission facilities as of December 31, 2022 and 2021 were as follows:


	Transmission
	NJ/DE(a)
Operator	PSEG/DPL
Ownership interest	various
Exelon’s share as of December 31, 2022:
Plant in service	$	103
Accumulated depreciation	56
Exelon’s share as of December 31, 2021:
Plant in service	$	103
Accumulated depreciation	55

__________

(a)PECO, DPL, and ACE own a 42.55%, 1%, and 13.9% share, respectively, in 151.3 miles of 500kV lines located in New Jersey and in the Salem generating plant substation. PECO, DPL, and ACE also own a 42.55%, 7.45%, and 7.45% share, respectively, in 2.5 miles of 500kV line located over the Delaware River. ACE also has a 21.78% share in a 500kV New Freedom Switching substation.

Intangible Assets (Exelon, ComEd, PHI, Pepco, DPL, and ACE)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets (Exelon, ComEd, PHI, Pepco, DPL, and ACE)

Intangible Assets

Goodwill (Exelon, ComEd, PHI, Pepco, DPL, and ACE)

The following table presents the gross amount, accumulated impairment loss, and carrying amount of goodwill at Exelon, ComEd, and PHI as of December 31, 2022 and 2021. There were no additions or impairments during the years ended December 31, 2022 and 2021.


	Gross Amount		Accumulated Impairment Loss		Carrying Amount
Exelon	$	8,613	$	1,983	$	6,630
ComEd(a)	4,608		1,983		2,625
PHI(b)	4,005		—		4,005

__________

(a)Reflects goodwill recorded in 2000 from the PECO/Unicom merger (predecessor parent company of ComEd).

(b)Reflects goodwill recorded in 2016 from the PHI merger.

Goodwill is not amortized, but is subject to an assessment for impairment at least annually, or more frequently if events occur or circumstances change that would more likely than not reduce the fair value of ComEd's and PHI's reporting units below their carrying amounts. A reporting unit is an operating segment or one level below an operating segment (known as a component) and is the level at which goodwill is assessed for impairment. A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and its operating results are regularly reviewed by segment management. ComEd has a single operating segment. PHI's operating segments are Pepco, DPL, and ACE. See Note 5 — Segment Information for additional information. There is no level below these operating segments for which operating results are regularly reviewed by segment management. Therefore, the ComEd, Pepco, DPL, and ACE operating segments are also considered reporting units for goodwill impairment assessment purposes. Exelon's and ComEd's $2.6 billion of goodwill has been assigned entirely to the ComEd reporting unit, while Exelon's and PHI's $4.0 billion of goodwill has been assigned to the Pepco, DPL, and ACE reporting units in the amounts of $2.1 billion, $1.4 billion, and $0.5 billion, respectively.

Entities assessing goodwill for impairment have the option of first performing a qualitative assessment to determine whether a quantitative assessment is necessary. As part of the qualitative assessments, Exelon, ComEd, and PHI evaluate, among other things, management's best estimate of projected operating and capital cash flows for their businesses, outcomes of recent regulatory proceedings, changes in certain market conditions, including the discount rate and regulated utility peer EBITDA multiples, and the passing margin from their last quantitative assessments performed. If an entity bypasses the qualitative assessment, a quantitative, fair value-based assessment is performed, which compares the fair value of the reporting unit to its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, the entity recognizes an impairment charge, which is limited to the amount of goodwill allocated to the reporting unit.

Application of the goodwill impairment assessment requires management judgment, including the identification of reporting units and determining the fair value of the reporting unit, which management estimates using a weighted combination of a discounted cash flow analysis and a market multiples analysis. Significant assumptions used in these fair value analyses include discount and growth rates, utility sector market

performance and transactions, projected operating and capital cash flows for ComEd's, Pepco's, DPL's, and ACE's businesses, and the fair value of debt.

2022 and 2021 Goodwill Impairment Assessment. ComEd and PHI qualitatively determined that it was more likely than not that the fair values of their reporting units exceeded their carrying values and, therefore, did not perform quantitative assessments as of November 1, 2022 and 2021. The last quantitative assessments performed were as of November 1, 2016 for ComEd and November 1, 2018 for PHI.

While the annual assessments indicated no impairments, certain assumptions used to estimate reporting unit fair values are highly sensitive to changes. Adverse regulatory actions or changes in significant assumptions could potentially result in future impairments of Exelon's, ComEd's, and PHI’s goodwill, which could be material.

Other Intangible Assets and Liabilities (Exelon and PHI)

Exelon’s other intangible assets, included in Other current assets and Other deferred debits and other assets in the Consolidated Balance Sheets, consisted of the following as of December 31, 2022 and 2021. Exelon's and PHI's other intangible liabilities, included in current and noncurrent Unamortized energy contract liabilities in their Consolidated Balance Sheets, consisted of the following as of December 31, 2022 and 2021. The intangible assets and liabilities shown below are amortized on a straight-line basis, except for unamortized energy contracts which are amortized in relation to the expected realization of the underlying cash flows:


	December 31, 2022						December 31, 2021
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Exelon
Unamortized Energy Contracts	$	(1,515)	$	1,470	$	(45)	$	(1,515)	$	1,280	$	(235)
Software License	81		(61)		20		81		(53)		28
Exelon Total	$	(1,434)	$	1,409	$	(25)	$	(1,434)	$	1,227	$	(207)
PHI
Unamortized Energy Contracts	$	(1,515)	$	1,470	$	(45)	$	(1,515)	$	1,280	$	(235)

The following table summarizes the amortization expense related to intangible assets and liabilities for each of the years ended December 31, 2022, 2021, and 2020:


For the Years Ended December 31,	Exelon(a)		PHI(a)
2022(b)	$	(182)	$	(190)
2021	(83)		(92)
2020	(98)		(115)

__________

(a)For PHI unamortized energy contracts, the amortization of the fair value adjustment amounts and the corresponding offsetting regulatory asset amounts are amortized through Purchased power and fuel expense in their Consolidated Statements of Operations and Comprehensive Income resulting in no effect to net income.

(b)On March 23, 2022, the NJBPU approved a petition by ACE to terminate the provisions in its PPAs. As such, the contract was fully amortized during the year ended December 31, 2022. See Note 3 - Regulatory Matters for additional information.

The following table summarizes the estimated future amortization expense related to intangible assets and liabilities as of December 31, 2022:


For the Years Ending December 31,	Exelon		PHI
2023	$	(2)	$	(10)
2024	—		(8)
2025	(2)		(5)
2026	(5)		(5)
2027	(4)		(4)

Revenue from Contracts with Customers (All Registrants)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer (All Registrants) [Abstract]

Revenue from Contracts with Customers [Text Block]

Revenue from Contracts with Customers (All Registrants)

The Registrants recognize revenue from contracts with customers to depict the transfer of goods or services to customers at an amount that the entities expect to be entitled to in exchange for those goods or services. The primary sources of revenue include regulated electric and gas tariff sales, distribution, and transmission services. The performance obligations, revenue recognition, and payment terms associated with these sources of revenue are further discussed in the table below. There are no significant financing components for these sources of revenue and no variable consideration.

Unless otherwise noted, for each of the significant revenue categories and related performance obligations described below, the Registrants have the right to consideration from the customer in an amount that corresponds directly with the value transferred to the customer for the performance completed to date. Therefore, the Registrants generally recognize revenue in the amount for which they have the right to invoice the customer. As a result, there are generally no significant judgments used in determining or allocating the transaction price.

Revenue Source

Description

Performance Obligation

Timing of Revenue Recognition

Payment Terms

Regulated Electric and Gas Tariff Sales

Sales of electricity and electricity distribution services (the Utility Registrants) and natural gas and gas distribution services (PECO, BGE, and DPL) to residential, commercial, industrial, and governmental customers through regulated tariff rates approved by state regulatory commissions.

Delivery of electricity and/or natural gas.

Over time (each day) as the electricity and/or natural gas is delivered to customers. Tariff sales are generally considered daily contracts as customers can discontinue service at any time. (a)

Within the month following delivery of the electricity or natural gas to the customer.

Regulated Transmission Services

The Utility Registrants provide open access to their transmission facilities to PJM, which directs and controls the operation of these transmission facilities and accordingly compensates the Utility Registrants pursuant to filed tariffs at cost-based rates approved by FERC.

Various including (i) Network Integration Transmission Services (NITS), (ii) scheduling, system control and dispatch services, and (iii) access to the wholesale grid.

Over time utilizing output methods to measure progress towards completion. (b)

Paid weekly by PJM.

__________

(a)Electric and natural gas utility customers have the choice to purchase electricity or natural gas from competitive electric generation and natural gas suppliers. While the Utility Registrants are required under state legislation to bill their customers for the supply and distribution of electricity and/or natural gas, they recognize revenue related only to the distribution services when customers purchase their electricity or natural gas from competitive suppliers.

(b)Passage of time is used for NITS and access to the wholesale grid and MWhs of energy transported over the wholesale grid is used for scheduling, system control and dispatch services.

The Utility Registrants do not incur any material costs to obtain or fulfill contracts with customers.

Contract Liabilities

The Registrants record contract liabilities when consideration is received or due prior to the satisfaction of the performance obligations. The Registrants record contract liabilities in Other current liabilities and Other noncurrent liabilities in the Registrants' Consolidated Balance Sheets.

On July 1, 2020, Pepco, DPL, and ACE each entered into a collaborative arrangement with an unrelated owner and manager of communication infrastructure (the Buyer). Under this arrangement, Pepco, DPL, and ACE sold a 60% undivided interest in their respective portfolios of transmission tower attachment agreements with telecommunications companies to the Buyer, in addition to transitioning management of the day-to-day operations of the jointly-owned agreements to the Buyer for 35 years, while retaining the safe and reliable operation of its utility assets. In return, Pepco, DPL, and ACE will provide the Buyer limited access on the portion of the towers where the equipment resides for the purposes of managing the agreements for the benefit of Pepco, DPL, ACE, and the Buyer. In addition, for an initial period of three years and two, two-year extensions that are subject to certain conditions, the Buyer has the exclusive right to enter into new agreements with telecommunications companies and to receive a 30% undivided interest in those new agreements. PHI, Pepco, DPL, and ACE received cash and recorded contract liabilities as of July 1, 2020. The revenue attributable to this arrangement will be recognized as operating revenue over the 35 years under the collaborative arrangement.

The following table provides a rollforward of the contract liabilities reflected in Exelon's, PHI's, Pepco's, DPL's, and ACE'S Consolidated Balance Sheets. As of December 31, 2022, 2021, and 2020, ComEd's, PECO's, and BGE's contract liabilities were not material.


	Exelon(a)		PHI(a)		Pepco(a)		DPL(a)		ACE(a)



Balance as of December 31, 2020	$	118	$	118	$	94	$	12	$	12

Revenues recognized	(9)		(9)		(7)		(1)		(1)

Balance as of December 31, 2021	109		109		87		11		11

Revenues recognized	(8)		(8)		(6)		(1)		(1)

Balance as of December 31, 2022	$	101	$	101	$	81	$	10	$	10

__________

(a)Revenues recognized in the years ended December 31, 2022 and 2021, were included in the contract liabilities at December 31, 2021 and 2020, respectively.

Transaction Price Allocated to Remaining Performance Obligations

The following table shows the amounts of future revenues expected to be recorded in each year for performance obligations that are unsatisfied or partially unsatisfied as of December 31, 2022. This disclosure only includes contracts for which the total consideration is fixed and determinable at contract inception. The average contract term varies by customer type and commodity but ranges from one month to several years.

This disclosure excludes the Utility Registrants' gas and electric tariff sales contracts and transmission revenue contracts as they generally have an original expected duration of one year or less and, therefore, do not contain any future, unsatisfied performance obligations to be included in this disclosure.


	2023		2024		2025		2026		2027 and thereafter		Total
Exelon	$	8	$	6	$	5	$	5	$	77	$	101
PHI	8		6		5		5		77		101
Pepco	6		5		5		5		60		81
DPL	1		—		—		—		9		10
ACE	1		1		—		—		8		10

Revenue Disaggregation

The Registrants disaggregate revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. See Note 5 — Segment Information for the presentation of the Registrant's revenue disaggregation.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Public Utilities, General Disclosures [Line Items]

Stock-Based Compensation Plans - Components of Tax Benefits from Stock-based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Performance Shares [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Tax benefit on stock compensation	$ 6	$ 6	$ 15
Restricted Stock Units (RSUs) [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Tax benefit on stock compensation	$ 6	$ 6	$ 8

Income Taxes - Reconciliation to Effective Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of Federal income tax benefit	8.80%	5.00%	11.90%
Plant basis differences	(4.10%)	(5.40%)	(8.60%)
Excess deferred tax amortization	(11.80%)	(17.20%)	(29.10%)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.10%)	(0.10%)	(0.30%)
Production tax credits and other credits	0.10%	(0.70%)	(0.50%)
Effective Income Tax Rate Reconciliation, Deferred Prosecution Agreement payments			3.80%
Other	0.60%	(0.30%)	1.20%
Effective income tax rate	14.50%	2.30%	(0.60%)
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	$ 9
Income Tax Credits and Adjustments	15
Federal and State
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	11
Current State and Local Tax Expense (Benefit)	43
Income Tax Credits and Adjustments	$ 17
Commonwealth Edison Co [Member]
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of Federal income tax benefit	8.00%	7.80%	11.60%
Plant basis differences	(0.60%)	(0.80%)	(0.60%)
Excess deferred tax amortization	(5.60%)	(7.60%)	(11.20%)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.10%)	(0.10%)	(0.30%)
Production tax credits and other credits	(0.30%)	(0.50%)	(0.30%)
Effective Income Tax Rate Reconciliation, Deferred Prosecution Agreement payments			6.80%
Other	0.00%	(1.00%)	1.80%
Effective income tax rate	22.40%	18.80%	28.80%
PECO Energy Co [Member]
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of Federal income tax benefit	5.80%	(1.40%)	(4.50%)
Plant basis differences	(11.90%)	(13.60%)	(18.70%)
Excess deferred tax amortization	(3.00%)	(3.80%)	(4.60%)
Amortization of investment tax credit, including deferred taxes on basis difference	0.00%	0.00%	0.00%
Production tax credits and other credits	0.00%	0.00%	0.00%
Effective Income Tax Rate Reconciliation, Deferred Prosecution Agreement payments			0.00%
Other	0.20%	0.10%	(0.40%)
Effective income tax rate	12.10%	2.30%	(7.20%)
Baltimore Gas and Electric Company [Member]
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of Federal income tax benefit	2.60%	(10.80%)	5.50%
Plant basis differences	(1.00%)	(1.70%)	(1.50%)
Excess deferred tax amortization	(19.80%)	(16.30%)	(13.90%)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.10%)	(0.10%)	(0.10%)
Production tax credits and other credits	(0.70%)	(0.90%)	(0.40%)
Effective Income Tax Rate Reconciliation, Deferred Prosecution Agreement payments			0.00%
Other	0.10%	(0.60%)	(0.10%)
Effective income tax rate	2.10%	(9.40%)	10.50%
Pepco Holdings LLC [Member]
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of Federal income tax benefit	2.10%	10.10%	5.10%
Plant basis differences	(1.70%)	(1.10%)	(1.60%)
Excess deferred tax amortization	(19.50%)	(22.40%)	(42.00%)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.10%)	(0.10%)	(0.20%)
Production tax credits and other credits	(0.70%)	(0.50%)	(0.30%)
Effective Income Tax Rate Reconciliation, Deferred Prosecution Agreement payments			0.00%
Other	0.40%	0.00%	(0.40%)
Effective income tax rate	1.50%	7.00%	(18.40%)
Potomac Electric Power Company [Member]
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of Federal income tax benefit	(4.10%)	2.70%	4.50%
Plant basis differences	(2.70%)	(1.60%)	(1.70%)
Excess deferred tax amortization	(16.80%)	(16.40%)	(25.40%)
Amortization of investment tax credit, including deferred taxes on basis difference	0.00%	0.00%	(0.10%)
Production tax credits and other credits	(0.70%)	(0.50%)	(0.30%)
Effective Income Tax Rate Reconciliation, Deferred Prosecution Agreement payments			0.00%
Other	0.30%	(0.40%)	(0.70%)
Effective income tax rate	(3.00%)	4.80%	(2.70%)
Delmarva Power & Light Company [Member]
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of Federal income tax benefit	6.50%	25.00%	6.60%
Plant basis differences	(0.70%)	(0.80%)	(0.40%)
Excess deferred tax amortization	(18.40%)	(20.00%)	(51.70%)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.20%)	(0.20%)	(0.30%)
Production tax credits and other credits	(0.60%)	(0.40%)	(0.30%)
Effective Income Tax Rate Reconciliation, Deferred Prosecution Agreement payments			0.00%
Other	0.10%	0.10%	0.10%
Effective income tax rate	7.70%	24.70%	(25.00%)
Atlantic City Electric Company [Member]
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of Federal income tax benefit	6.90%	7.40%	7.00%
Plant basis differences	(0.70%)	(0.20%)	(3.00%)
Excess deferred tax amortization	(24.50%)	(37.10%)	(82.10%)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.20%)	(0.20%)	(0.50%)
Production tax credits and other credits	(0.50%)	(0.50%)	(0.50%)
Effective Income Tax Rate Reconciliation, Deferred Prosecution Agreement payments			0.00%
Other	0.00%	(0.20%)	0.40%
Effective income tax rate	2.00%	(9.80%)	(57.70%)
Delmarva Power & Light Co
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
Operating Loss Carryforwards, Valuation Allowance	$ 31

Stock-Based Compensation Plans - Schedule of Stock-based Compensation Expense (Details) - Share-based Payment Arrangement [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 41	$ 95	$ 37
Share-based Payment Arrangement, Expense, Tax Benefit	(10)	(25)	(9)
Share-based Payment Arrangement, Expense, after Tax	$ 31	$ 70	$ 28

Asset Impairments (Exelon and BGE)	12 Months Ended
Asset Impairments (Exelon and BGE)	Dec. 31, 2022
Impairment or Disposal of Tangible Assets Disclosure [Abstract]
Asset Impairments (Exelon and BGE)	Asset Impairments (Exelon and BGE)In the third quarter of 2022, a review of the impacts of COVID-19 on office use resulted in plans to cease the renovation and dispose of an office building at BGE before the asset was placed into service. BGE determined that the carrying value was not recoverable and that its fair value was less than carrying value. As a result, in 2022, a pre-tax impairment charge of $48 million was recorded in Operating and maintenance expense in Exelon’s and BGE’s Consolidated Statements of Operations and Comprehensive Income. The fair value used in the analysis was based on an estimate of an expected sales price. However, the office building did not meet all of the criteria for classification as held for sale as of December 31, 2022, and therefore continues to be reported within Property, plant and equipment in Exelon’s and BGE’s Balance Sheets as of December 31, 2022.

Intangible Assets - Schedule of Other Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross	$ (1,434)	$ (1,434)
Accumulated Amortization	1,409	1,227
Net	(25)	(207)
Unamortized Energy Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	(1,515)	(1,515)
Accumulated Amortization	1,470	1,280
Net	(45)	(235)
Business Services Company [Member] \| Licensing Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	81	81
Accumulated Amortization	(61)	(53)
Net	20	28
Pepco Holdings LLC [Member] \| Unamortized Energy Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	(1,515)	(1,515)
Accumulated Amortization	1,470	1,280
Net	$ (45)	$ (235)

Stock-Based Compensation Plans - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Aggregate value	$ 0	$ 11	$ 5
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning Balance	27,007
Options exercised	(27,644)
Options expired	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Other Increases (Decreases) in Period	(2,000)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Number of Shares, Period Increase (Decrease)	2,637
Ending Balance	0	27,007
Shares Exercisable, Aggregate Intrinsic Value	$ 0
Shares Exercisable, Weighted Average Remaining Contractual Life	0 years
Shares Exercisable, Weighted Average Exercise Price (in usd per share)	$ 0
Exercisable at December 31, 2022	0
Weighted Average Exercise Price (in usd per share)	$ 0	$ 46.47
Options Exercised, Weighted Average Exercise Price (in usd per share)	38.56
Options Expired, Weighted Average Exercise Price (in usd per share)	$ 0
Shares Outstanding, Weighted Average Remaining Contractual Life	0 years	1 month 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 0	$ 0
Aggregate value	$ 0

Income Taxes - Recognition of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Recognition of Unrecognized Tax Benefits [Line Items]
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 90	$ 77	$ 73

Regulatory Matters (Tables)

12 Months Ended

Dec. 31, 2022

Public Utilities Distribution Rate Cases [Table Text Block]

The following tables show the completed and pending distribution base rate case proceedings in 2022.

Completed Distribution Base Rate Case Proceedings

Registrant/Jurisdiction

Filing Date

Service

Requested Revenue Requirement Increase

Approved Revenue Requirement Increase

Approved ROE

Approval Date

Rate Effective Date

ComEd - Illinois(a)

April 16, 2021

Electric

7.36%

December 1, 2021

January 1, 2022

April 15, 2022

Electric

199

7.85%

November 17, 2022

January 1, 2023

PECO - Pennsylvania

March 30, 2021

Electric

246

132

N/A(b)

November 18, 2021

January 1, 2022

March 31, 2022

Natural Gas

October 27, 2022

January 1, 2023

BGE - Maryland(c)

May 15, 2020 (amended September 11, 2020)

Electric

203

140

9.50%

December 16, 2020

January 1, 2021

Natural Gas

108

9.65%

Pepco - District of Columbia(d)

May 30, 2019 (amended June 1, 2020)

Electric

136

109

9.275%

June 8, 2021

July 1, 2021

Pepco - Maryland(e)

October 26, 2020 (amended March 31, 2021)

Electric

104

9.55%

June 28, 2021

DPL - Maryland

September 1, 2021 (amended December 23, 2021)(f)

Electric

9.60%

March 2, 2022

May 19, 2022(g)

Electric

9.60%

December 14, 2022

January 1, 2023

DPL - Delaware

January 14, 2022 (amended August 15, 2022)

Natural Gas

9.60%

October 12, 2022

August 14, 2022

ACE - New Jersey(h)

December 9, 2020 (amended February 26, 2021)

Electric

9.60%

July 14, 2021

January 1, 2022

__________

(a)Pursuant to EIMA and FEJA, ComEd’s electric distribution rates are established through a performance-based formula, which sunsets at the end of 2022. See discussion of CEJA below for details on the transition away from the electric distribution formula rate. The electric distribution formula rate includes decoupling provisions and, as a result, ComEd's electric distribution formula rate revenues are not impacted by abnormal weather, usage per customer, or number of customers. Under the performance-based formula, ComEd filed annual updates to its electric distribution formula rate on or before May 1st, with resulting rates effective in January of the following year. ComEd’s annual electric distribution formula rate update is based on prior year actual costs and current year projected capital additions (initial year revenue requirement). The update also reconciles any differences between the revenue requirement in effect for the prior year and actual costs incurred from the year (annual reconciliation).

ComEd’s 2022 approved revenue requirement reflects an increase of $37 million for the initial year revenue requirement for 2022 and an increase of $9 million related to the annual reconciliation for 2020. The revenue requirement for 2022 provides for a weighted average debt and equity return on distribution rate base of 5.72% inclusive of an allowed ROE of 7.36%, reflecting the monthly average yields for 30-year treasury bonds plus 580 basis points. The reconciliation revenue requirement for 2020 provides for a weighted average debt and equity return on distribution rate base of 5.69%, inclusive of an allowed ROE of 7.29%, reflecting the monthly yields on 30-year treasury bonds plus 580 basis points less a performance metrics penalty of 7 basis points.

ComEd’s 2023 approved revenue requirement above reflects an increase of $144 million for the initial year revenue requirement for 2023 and an increase of $55 million related to the annual reconciliation for 2021. The revenue requirement for 2023 provides for a weighted average debt and equity return on distribution rate base of 5.94% inclusive of an allowed ROE of 7.85%, reflecting the monthly average yields for 30-year treasury bonds plus 580 basis points. The reconciliation revenue requirement for 2021 provides for a weighted average debt and equity return on distribution rate base of 5.91%, inclusive of an allowed ROE of 7.78%, reflecting the monthly yields on 30-year treasury bonds plus 580 basis points less a performance metrics penalty of 7 basis points. This is ComEd's last performance-based electric distribution formula rate update filing under EIMA. See discussion of CEJA below for details on the transition away from the electric distribution formula rate.

(b)The PECO electric and natural gas base rate case proceedings were resolved through settlement agreements, which did not specify an approved ROE.

(c)Reflects a three-year cumulative multi-year plan for 2021 through 2023. BGE proposed to use certain tax benefits to fully offset the increases in 2021 and 2022 and partially offset the increase in 2023. The MDPSC awarded BGE electric revenue requirement increases of $59 million, $39 million, and $42 million, before offsets, in 2021, 2022, and 2023, respectively, and natural gas revenue requirement increases of $53 million, $11 million, and $10 million, before offsets, in 2021, 2022, and 2023, respectively. However, the MDPSC utilized the tax benefits to fully offset the increases in 2021 and January 2022 such that customer rates remained unchanged. For the remainder of 2022, the MDPSC chose to offset only 25% of the cumulative 2021 and 2022 electric revenue requirement increases and 50% of the cumulative gas revenue requirement increases. In 2021, the MDPSC deferred a decision on whether to use certain tax benefits to offset the revenue requirement increases in 2023 and directed BGE to make another proposal at the end of 2022. In September 2022 BGE proposed that tax benefits not be used to offset the 2023 revenue requirement increases. On October 26, 2022, the MDPSC accepted BGE's recommendation to not use tax benefits to offset the 2023 revenue requirement increases.

(d)Reflects a cumulative multi-year plan with 18-months remaining in 2021 through 2022. The DCPSC awarded Pepco electric incremental revenue requirement increases of $42 million and $67 million, before offsets, for 2021 and 2022, respectively. However, the DCPSC utilized the acceleration of refunds for certain tax benefits along with other rate relief to partially offset the customer rate increases by $22 million and $40 million for 2021 and 2022, respectively.

(e)Reflects a three-year cumulative multi-year plan for April 1, 2021 through March 31, 2024. The MDPSC awarded Pepco electric incremental revenue requirement increases of $21 million, $16 million, and $15 million, before offsets, for the 12-month periods ending March 31, 2022, 2023, and 2024, respectively. Pepco proposed to utilize certain tax benefits to fully offset the increase through 2023 and partially offset customer rate increases in 2024. However, the MDPSC only utilized the acceleration of refunds for certain tax benefits to fully offset the increases such that customer rates remain unchanged through March 31, 2022. On February 23, 2022, the MDPSC chose to offset 25% of the cumulative revenue requirement increase through March 31, 2023. Whether certain tax benefits will be used to offset the customer rate increases for the twelve months ended March 31, 2024 has not been decided, and Pepco cannot predict the outcome.

(f)The approved settlement reflects a 9.60% ROE, which is solely for the purposes of calculating AFUDC and regulatory asset carrying costs.

(g)Reflects a three-year cumulative multi-year plan for January 1, 2023 through December 31, 2025. The MDPSC awarded DPL electric incremental revenue requirement increases of $17 million, $6 million, and $6 million for 2023, 2024, and 2025, respectively.

(h)Requested and approved increases are before New Jersey sales and use tax. The order allows ACE to retain approximately $11 million of certain tax benefits which resulted in a decrease to income tax expense in Exelon's, PHI's, and ACE's Consolidated Statements of Operations and Comprehensive Income in the third quarter of 2021.

Pending Distribution Base Rate Case Proceedings

Registrant/Jurisdiction

Filing Date

Service

Requested Revenue Requirement Increase

Requested ROE

Expected Approval Timing

ComEd - Illinois(a)

January 17, 2023

Electric

1,472

10.50% to 10.65%

Fourth quarter of 2023

DPL - Delaware(b)

December 15, 2022

Electric

10.50%

Second quarter of 2024

__________

(a)Reflects a four-year cumulative MRP for January 1, 2024 to December 31, 2027 and total requested revenue requirement increases of $877 million effective January 1, 2024, $175 million effective January 1, 2025, $217 million effective January 1, 2026, and $203 million effective January 1, 2027, based on forecasted revenue requirements. The revenue requirement will provide for a weighted average debt and equity return on distribution rate base of 7.43% in 2024, 7.50% in 2025, 7.62% in 2026, and 7.70% in 2027, inclusive of an allowed ROE of 10.50% in 2024, 10.55% in 2025, 10.60% in 2026, and 10.65% in 2027. The requested revenue requirements are based on capital structures that reflect between 50.58% and 51.19% common equity. ComEd’s MRP also includes a proposed rate phase-in to defer approximately $307 million of the $877 million year-over-year increase for 2024 revenue from 2024 to 2026.

(b)The rates will go into effect on July 15, 2023, subject to refund.

Public Utilities Transmission Rate Filings [Table Text Block]

For 2022, the following total increases/(decreases) were included in the Utility Registrants' electric transmission formula rate updates:


Registrant(a)	Initial Revenue Requirement Increase		Annual Reconciliation (Decrease) Increase		Total Revenue Requirement Increase			Allowed Return on Rate Base(b)		Allowed ROE(c)
ComEd	$	24	$	(24)	$	—		8.11	%	11.50	%
PECO	23		16		39			7.30	%	10.35	%
BGE	25		(4)		16		(d)	7.30	%	10.50	%
Pepco	16		15		31			7.60	%	10.50	%
DPL	9		2		11			7.09	%	10.50	%
ACE	21		13		34			7.18	%	10.50	%

__________

(a)All rates are effective June 1, 2022 - May 31, 2023, subject to review by interested parties pursuant to review protocols of each Utility Registrants' tariff.

(b)Represents the weighted average debt and equity return on transmission rate bases. For ComEd and PECO, the common equity component of the ratio used to calculate the weighted average debt and equity return on the transmission formula rate base is currently capped at 55% and 55.75%, respectively.

(c)The rate of return on common equity for each Utility Registrant includes a 50-basis-point incentive adder for being a member of a RTO.

(d)The increase in BGE's transmission revenue requirement includes a $5 million reduction related to a FERC-approved dedicated facilities charge to recover the costs of providing transmission service to specifically designated load by BGE.

Public Utilities Energy Efficiency Revenue [Table Text Block]

During 2022, the ICC approved the following total increases in ComEd's requested energy efficiency revenue requirement:


Filing Date	Requested Revenue Requirement Increase		Approved Revenue Requirement Increase(a)		Approved ROE		Approval Date	Rate Effective Date
May 25, 2022	$	50	$	50	7.85	%	October 27, 2022	January 1, 2023

_________

(a)ComEd’s 2023 approved revenue requirement above reflects an increase of $66 million for the initial year revenue requirement for 2023 and a decrease of $16 million related to the annual reconciliation for 2021. The revenue requirement for 2023 provides for a weighted average debt and equity return on the energy efficiency regulatory asset and rate base of 5.94% inclusive of an allowed ROE of 7.85%, reflecting the monthly average yields for 30-year treasury bonds plus 580 basis points. The revenue requirement for the 2021 reconciliation year provides for a weighted average debt and equity return on the energy efficiency regulatory asset and rate base of 5.52% inclusive of an allowed ROE of 6.99%, which includes a downward performance adjustment that decreased the ROE. The performance adjustment can either increase or decrease the ROE based upon the achievement of energy efficiency savings goals. See table below for ComEd's regulatory assets associated with its energy efficiency formula rate.

Capitalized Ratemaking Amounts Not Recognized [Table Text Block]

The following table presents authorized amounts capitalized for ratemaking purposes related to earnings on shareholders’ investment that are not recognized for financial reporting purposes in the Registrants' Consolidated Balance Sheets. These amounts will be recognized as revenues in the related Consolidated Statements of Operations and Comprehensive Income in the periods they are billable to the Utility Registrants' customers.


	Exelon		ComEd(a)		PECO		BGE(b)		PHI		Pepco(c)		DPL(c)		ACE(b)
December 31, 2022	$	57	$	8	$	—	$	28	$	21	$	18	$	2	$	1
December 31, 2021	43		1		—		37		5		3		2		—

__________

(a)Reflects ComEd's unrecognized equity returns earned for ratemaking purposes on its electric distribution formula rate regulatory assets.

(b)BGE's and ACE's authorized amounts capitalized for ratemaking purposes primarily relate to earnings on shareholders' investment on their respective AMI programs.

(c)Pepco's and DPL's authorized amounts capitalized for ratemaking purposes relate to earnings on shareholders' investment on their respective AMI Programs and Energy Efficiency and Demand Response Programs, and for Pepco District of Columbia revenue decoupling program. The earnings on energy efficiency are on Pepco District of Columbia and DPL Delaware programs only.

Regulatory assets 2022 [Member]

Public Utilities, General Disclosures [Line Items]

Schedule of Regulatory Assets

The following tables provide information about the regulatory assets and liabilities of the Registrants as of December 31, 2022 and 2021:


December 31, 2022	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory assets
Pension and OPEB	$	1,867	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Pension and OPEB - merger related	769		—		—		—		—		—		—		—
Deferred income taxes	606		—		595		—		11		11		—		—
AMI programs - deployment costs	122		—		—		69		53		25		22		6
AMI programs - legacy meters	160		48		—		20		92		53		17		22

Electric distribution formula rate annual reconciliations	271		271		—		—		—		—		—		—
Electric distribution formula rate significant one-time events	115		115		—		—		—		—		—		—
Energy efficiency costs	1,434		1,434		—		—		—		—		—		—
Fair value of long-term debt	521		—		—		—		414		—		—		—
Fair value of PHI's unamortized energy contracts	44		—		—		—		44		—		—		—
Carbon mitigation credit	843		843		—		—		—		—		—		—
Asset retirement obligations	151		99		22		21		9		6		2		1
MGP remediation costs	318		293		13		12		—		—		—		—
Renewable energy	85		85		—		—		—		—		—		—
Electric energy and natural gas costs	241		—		15		25		201		41		26		134
Transmission formula rate annual reconciliations	37		—		16		—		21		3		5		13
Energy efficiency and demand response programs	560		—		—		286		274		187		74		13

Under-recovered revenue decoupling	106		—		—		8		98		98		—		—

Removal costs	782		—		—		171		611		144		109		359
DC PLUG charge	37		—		—		—		37		37		—		—
Deferred storm costs	90		—		—		55		35		2		2		31
COVID-19	58		20		17		8		13		10		3		—
Under-recovered credit loss expense	71		38		—		—		33		—		—		33
Other	390		196		54		29		119		55		22		12
Total regulatory assets	9,678		3,442		732		704		2,065		672		282		624
Less: current portion	1,641		775		80		177		455		235		80		130
Total noncurrent regulatory assets	$	8,037	$	2,667	$	652	$	527	$	1,610	$	437	$	202	$	494

Regulatory liabilities 2022 [Member]

Public Utilities, General Disclosures [Line Items]

Schedule of Regulatory Liabilities


December 31, 2022	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory liabilities
Deferred income taxes	$	3,546	$	2,010	$	—	$	682	$	854	$	402	$	304	$	148
Decommissioning the Regulatory Agreement Units	2,897		2,660		237		—		—		—		—		—
Removal costs	1,750		1,604		—		35		111		20		91		—
Electric energy and natural gas costs	87		11		65		4		7		—		7		—
Transmission formula rate annual reconciliations	31		3		—		18		10		9		1		—
Renewable portfolio standards costs	810		810		—		—		—		—		—		—
Stranded costs	9		—		—		—		9		—		—		9
Energy efficiency and demand response programs	15		—		15		—		—		—		—		—
Over-recovered revenue decoupling	19		—		—		4		15		—		6		9
Dedicated facilities charge	110		—		—		110		—		—		—		—
Other	275		41		28		10		81		30		15		16
Total regulatory liabilities	9,549		7,139		345		863		1,087		461		424		182
Less: current portion	437		226		75		47		76		6		44		26
Total noncurrent regulatory liabilities	$	9,112	$	6,913	$	270	$	816	$	1,011	$	455	$	380	$	156

Regulatory assets 2021 [Member]

Public Utilities, General Disclosures [Line Items]

Schedule of Regulatory Assets


December 31, 2021	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory assets
Pension and OPEB	$	2,409	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Pension and OPEB - merger related	893		—		—		—		—		—		—		—
Deferred income taxes	883		—		873		—		10		10		—		—
AMI programs - deployment costs	145		—		—		89		56		30		26		—
AMI programs - legacy meters	186		69		—		29		88		60		21		7
Electric distribution formula rate annual reconciliations	44		44		—		—		—		—		—		—
Electric distribution formula rate significant one-time events	104		104		—		—		—		—		—		—
Energy efficiency costs	1,181		1,181		—		—		—		—		—		—
Fair value of long-term debt	557		—		—		—		443		—		—		—
Fair value of PHI's unamortized energy contracts	236		—		—		—		236		—		—		—
Asset retirement obligations	145		99		21		19		6		5		—		1
MGP remediation costs	283		266		8		9		—		—		—		—
Renewable energy	219		219		—		—		—		—		—		—
Electric energy and natural gas costs	96		—		—		49		47		29		13		5
Transmission formula rate annual reconciliations	43		—		14		1		28		—		8		20
Energy efficiency and demand response programs	564		—		—		283		281		199		79		3

Under-recovered revenue decoupling	157		—		—		32		125		125		—		—

Removal costs	758		—		—		143		615		147		109		360
DC PLUG charge	70		—		—		—		70		70		—		—
Deferred storm costs	49		—		—		—		49		3		3		43
COVID-19	82		28		33		8		13		10		3		—
Under-recovered credit loss expense	89		60		—		—		29		—		—		29
Other	327		135		42		30		130		57		18		23
Total regulatory assets	9,520		2,205		991		692		2,226		745		280		491
Less: current portion	1,296		335		48		215		432		213		68		61
Total noncurrent regulatory assets	$	8,224	$	1,870	$	943	$	477	$	1,794	$	532	$	212	$	430

Regulatory liabilities 2021 [Member]

Public Utilities, General Disclosures [Line Items]

Schedule of Regulatory Liabilities


December 31, 2021	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory liabilities
Deferred income taxes	$	4,005	$	2,105	$	—	$	819	$	1,081	$	525	$	354	$	202
Decommissioning the Regulatory Agreement Units	3,357		2,760		597		—		—		—		—		—
Removal costs	1,694		1,541		—		39		114		20		94		—

Electric energy and natural gas costs	113		25		71		—		17		9		3		5
Transmission formula rate annual reconciliations	8		7		—		—		1		1		—		—

Renewable portfolio standards costs	500		500		—		—		—		—		—		—
Stranded costs	35		—		—		—		35		—		—		24
Other	292		6		61		102		58		8		15		11
Total regulatory liabilities	10,004		6,944		729		960		1,306		563		466		242
Less: current portion	376		185		94		26		68		14		25		28
Total noncurrent regulatory liabilities	$	9,628	$	6,759	$	635	$	934	$	1,238	$	549	$	441	$	214

Related Party Transactions - Operating Revenues and Purchased Power and Fuel From Affiliates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	$ (159)	$ (1,178)	$ (1,209)
Exelon Generation Co L L C [Member] \| Commonwealth Edison Co Affiliate [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	59	376	330
Exelon Generation Co L L C [Member] \| PECO Energy Co Affiliate [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	33	196	190
Exelon Generation Co L L C [Member] \| Baltimore Gas And Electric Company Affiliate [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	18	236	315
Exelon Generation Co L L C [Member] \| Pepco Holdings LLC Affiliate [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	51	366	367
Exelon Generation Co L L C [Member] \| Potomac Electric Power Co Affiliate [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	39	270	279
Exelon Generation Co L L C [Member] \| Delmarva Power and Light Co Affiliate [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	10	79	75
Exelon Generation Co L L C [Member] \| Atlantic City Electric Co Affiliate [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	2	17	13
Commonwealth Edison Co [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	16	41	37
Related Party Transaction, Purchases from Related Party	$ (59)	$ (383)	$ (345)

Retirement Benefits - Defined Contribution Savings Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Savings plan matching contributions	$ 91	$ 90	$ 95
Commonwealth Edison Co [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Savings plan matching contributions	39	35	36
PECO Energy Co [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Savings plan matching contributions	13	12	12
Baltimore Gas and Electric Company [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Savings plan matching contributions	11	12	13
Pepco Holdings LLC [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Savings plan matching contributions	14	14	14
Potomac Electric Power Company [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Savings plan matching contributions	4	4	4
Delmarva Power & Light Company [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Savings plan matching contributions	3	3	3
Atlantic City Electric Company [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Savings plan matching contributions	$ 2	$ 2	$ 3

Debt and Credit Agreements - Narrative (Details) - USD ($) $ in Millions				12 Months Ended
	Oct. 11, 2022	Aug. 11, 2022	Jan. 24, 2022	Dec. 31, 2022	Oct. 07, 2022	Jan. 31, 2022	Dec. 31, 2021
Short-term Loan Agreements [Abstract]
Proceeds from (Repayments of) Debt		$ 575
Long-term Debt, Current Maturities				$ 1,802			$ 2,153
Corporate, Non-Segment [Member]
Short-term Loan Agreements [Abstract]
Proceeds from (Repayments of) Debt	$ 575	$ 575
Long-term Debt, Current Maturities				850			1,150
Notes Receivable, Related Parties							319
Due from Affiliate, Noncurrent				0			319
Corporate, Non-Segment [Member] \| ShortTermDebt03232017 [Member]
Short-term Loan Agreements [Abstract]
Short-Term Loans				$ 500
Corporate, Non-Segment [Member] \| ShortTermDebt03232017 [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Short-term Loan Agreements [Abstract]
Short-Term Loans, Interest rate terms				0.65
Corporate, Non-Segment [Member] \| ShortTermDebt03312021.1 [Member]
Short-term Loan Agreements [Abstract]
Short-Term Loans				$ 150
Corporate, Non-Segment [Member] \| ShortTermDebt03312021.1 [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Short-term Loan Agreements [Abstract]
Short-Term Loans, Interest rate terms				0.65
Corporate, Non-Segment [Member] \| ShortTermDebt03312021.2 [Member]
Short-term Loan Agreements [Abstract]
Short-Term Loans				$ 150
Corporate, Non-Segment [Member] \| ShortTermDebt03312021.2 [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Short-term Loan Agreements [Abstract]
Short-Term Loans, Interest rate terms				0.65
Corporate, Non-Segment [Member] \| ShortTermDebt01242022
Short-term Loan Agreements [Abstract]
Short-Term Loans			$ 1,150
Corporate, Non-Segment [Member] \| ShortTermDebt01242022 \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Short-term Loan Agreements [Abstract]
Short-Term Loans, Interest rate terms			0.75
Corporate, Non-Segment [Member] \| ShortTermDebtSOFRplus075PLUS22.5BPincreaseJan2023 \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Short-term Loan Agreements [Abstract]
Short-Term Loans, Interest rate terms				0.975
Corporate, Non-Segment [Member] \| CorpTermLoanApr2024 \| Notes Payable to Banks
Short-term Loan Agreements [Abstract]
Debt Instrument, Face Amount					$ 500
Exelon Corporate [Member] \| Exelon Generation Co L L C [Member]
Short-term Loan Agreements [Abstract]
Due from Affiliate, Noncurrent				$ 0		$ 258	319
Commonwealth Edison Co [Member] \| ShortTermDebtSOFRplus075Oct2023
Short-term Loan Agreements [Abstract]
Short-Term Loans				$ 150
Commonwealth Edison Co [Member] \| ShortTermDebtSOFRplus075Oct2023 \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Short-term Loan Agreements [Abstract]
Short-Term Loans, Interest rate terms				0.75
Delmarva Power & Light Company [Member]
Short-term Loan Agreements [Abstract]
Long-term Debt, Current Maturities				$ 79			$ 79

Income Taxes - Allocation of Tax Benefits (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Commonwealth Edison Co [Member]
Income Taxes [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	$ 1	$ 1	$ 14
PECO Energy Co [Member]
Income Taxes [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	47	19	17
Baltimore Gas and Electric Company [Member]
Income Taxes [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	0	0	0
Pepco Holdings LLC [Member]
Income Taxes [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	28	17	17
Potomac Electric Power Company [Member]
Income Taxes [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	23	16	8
Delmarva Power and Light Company [Member]
Income Taxes [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	3	0	6
Atlantic City Electric Company [Member]
Income Taxes [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	$ 2	$ 0	$ 1

Fair Value of Financial Assets and Liabilities - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Notional Amount	$ 3,434	$ 3,481
Interest Rate Swap [Member] \| Cash Flow Hedging
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Notional Amount	$ 1,270	$ 0

Retirement Benefits - Reconciliation of Level 3 Assets and Liabilities measured at Fair Value for Pension and Other Postretirement Benefit Plans (Details) - Pension and other post retirement benefit [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of net plan assets as of the beginning of year	$ 469	$ 485
Relating to assets still held at the reporting date	(24)	6
Relating to assets sold during the period	(6)
Defined Benefit Plan Purchases	7	15
Settlements	(53)	(42)
Transfers into (out of) Level 3	(381)	5
Fair value of net plan assets as of the end of year	12	469
Debt Securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of net plan assets as of the beginning of year	337	348
Relating to assets still held at the reporting date	(9)	(12)
Relating to assets sold during the period	(19)
Defined Benefit Plan Purchases	0	10
Settlements	(1)	(13)
Transfers into (out of) Level 3	(296)	4
Fair value of net plan assets as of the end of year	12	337
Equity Securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of net plan assets as of the beginning of year	2	1
Relating to assets still held at the reporting date	0	0
Defined Benefit Plan Purchases	0	0
Settlements	0	0
Transfers into (out of) Level 3	(2)	1
Fair value of net plan assets as of the end of year	0	2
Equity Security Individually Held [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Relating to assets sold during the period	0
Private Placement [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of net plan assets as of the beginning of year	130	136
Relating to assets still held at the reporting date	(15)	18
Relating to assets sold during the period	13
Defined Benefit Plan Purchases	7	5
Settlements	(52)	(29)
Transfers into (out of) Level 3	(83)	0
Fair value of net plan assets as of the end of year	$ 0	$ 130

Lessee - Narrative (Details)	12 Months Ended
Lessee - Narrative (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	9 years 6 months	8 years 10 months 24 days	9 years
Operating Lease, Weighted Average Discount Rate, Percent	3.90%	4.00%	4.00%
Real Estate [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Vehicles [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	1 year
Options to extend the term, Lessee, Operating Lease	3 years
Option to terminate within, Lessee, Operating Lease	1 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	83 years
Options to extend the term, Lessee, Operating Lease	30 years
Option to terminate within, Lessee, Operating Lease	10 years
Commonwealth Edison Co [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	1 year	3 years 3 months 18 days	3 years 9 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	2.60%	2.80%	3.00%
Commonwealth Edison Co [Member] \| Real Estate [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Commonwealth Edison Co [Member] \| Vehicles [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Commonwealth Edison Co [Member] \| Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	1 year
Options to extend the term, Lessee, Operating Lease	N/A years
Option to terminate within, Lessee, Operating Lease	1 years
Commonwealth Edison Co [Member] \| Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	3 years
Options to extend the term, Lessee, Operating Lease	N/A years
Option to terminate within, Lessee, Operating Lease	1 years
PECO Energy Co [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	5 years 6 months	6 years 1 month 6 days	4 years 2 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	2.30%	2.20%	2.90%
PECO Energy Co [Member] \| Real Estate [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
PECO Energy Co [Member] \| Vehicles [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
PECO Energy Co [Member] \| Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	1 year
PECO Energy Co [Member] \| Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	11 years
Baltimore Gas and Electric Company [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	70 years 10 months 24 days	13 years 8 months 12 days	8 years 3 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	4.50%	4.00%	3.80%
Baltimore Gas and Electric Company [Member] \| Real Estate [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Baltimore Gas and Electric Company [Member] \| Vehicles [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Baltimore Gas and Electric Company [Member] \| Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	1 year
Option to terminate within, Lessee, Operating Lease	N/A years
Baltimore Gas and Electric Company [Member] \| Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	83 years
Option to terminate within, Lessee, Operating Lease	N/A years
Pepco Holdings LLC [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	6 years 9 months 18 days	7 years 6 months	8 years 2 months 12 days
Finance Lease, Weighted Average Remaining Lease Term	5 years 6 months	6 years 1 month 6 days	6 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	4.20%	4.20%	4.20%
Finance Lease, Weighted Average Discount Rate, Percent	2.30%	2.20%	2.50%
Pepco Holdings LLC [Member] \| Real Estate [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Pepco Holdings LLC [Member] \| Vehicles [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Pepco Holdings LLC [Member] \| Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	1 year
Options to extend the term, Lessee, Operating Lease	3 years
Pepco Holdings LLC [Member] \| Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	9 years
Options to extend the term, Lessee, Operating Lease	30 years
Potomac Electric Power Company [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	8 years 1 month 6 days	8 years 7 months 6 days	9 years 1 month 6 days
Finance Lease, Weighted Average Remaining Lease Term	5 years 4 months 24 days	5 years 10 months 24 days	6 years 3 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	4.00%	4.00%	4.00%
Finance Lease, Weighted Average Discount Rate, Percent	2.30%	2.30%	2.60%
Potomac Electric Power Company [Member] \| Real Estate [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Potomac Electric Power Company [Member] \| Vehicles [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Potomac Electric Power Company [Member] \| Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	1 year
Options to extend the term, Lessee, Operating Lease	5 years
Potomac Electric Power Company [Member] \| Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	9 years
Options to extend the term, Lessee, Operating Lease	5 years
Delmarva Power & Light Company [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	7 years 10 months 24 days	8 years 6 months	9 years 1 month 6 days
Finance Lease, Weighted Average Remaining Lease Term	5 years 6 months	6 years 1 month 6 days	6 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	4.00%	4.00%	4.00%
Finance Lease, Weighted Average Discount Rate, Percent	2.30%	2.10%	2.40%
Delmarva Power & Light Company [Member] \| Real Estate [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Delmarva Power & Light Company [Member] \| Vehicles [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Delmarva Power & Light Company [Member] \| Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	1 year
Options to extend the term, Lessee, Operating Lease	3 years
Delmarva Power & Light Company [Member] \| Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	9 years
Options to extend the term, Lessee, Operating Lease	30 years
Atlantic City Electric Company [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	3 years 3 months 18 days	3 years 6 months	4 years
Finance Lease, Weighted Average Remaining Lease Term	5 years 7 months 6 days	6 years 3 months 18 days	6 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	3.30%	3.40%	3.50%
Finance Lease, Weighted Average Discount Rate, Percent	2.40%	2.10%	2.40%
Atlantic City Electric Company [Member] \| Real Estate [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Atlantic City Electric Company [Member] \| Vehicles [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Description	●
Atlantic City Electric Company [Member] \| Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	1 year
Options to extend the term, Lessee, Operating Lease	5 years
Atlantic City Electric Company [Member] \| Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms, Lessee, Operating Lease	7 years
Options to extend the term, Lessee, Operating Lease	5 years

Retirement Benefits - Summary of Changes in Benefit Obligations and Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension Plan, Defined Benefit [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Net benefit obligation as of the beginning of year	$ 14,236	$ 14,861
Service cost	236	294	$ 251
Interest cost	439	406	476
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant	0	0
Actuarial (gain) loss(a)	(3,379)	(442)
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Remeasurement due to Settlement	0	(23)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	(855)	(860)
Net benefit obligation as of the end of year	10,677	14,236	14,861
Fair value of net plan assets as of the beginning of year	12,165	11,883
Actual return on plan assets	(2,359)	822
Employer contributions	570	343
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	0	0
Defined Benefit Plan, Plan Assets, Benefits Paid	(855)	(860)
Defined Benefit Plan, Plan Assets, Payment for Settlement	0	(23)
Fair value of net plan assets as of the end of year	9,521	12,165	11,883
Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Net benefit obligation as of the beginning of year	2,502	2,661
Service cost	41	51	56
Interest cost	76	69	93
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant	26	32
Actuarial (gain) loss(a)	(604)	(116)
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Remeasurement due to Settlement	0	(5)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	(157)	(190)
Net benefit obligation as of the end of year	1,884	2,502	2,661
Fair value of net plan assets as of the beginning of year	1,665	1,635
Actual return on plan assets	(225)	130
Employer contributions	42	63
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	26	32
Defined Benefit Plan, Plan Assets, Benefits Paid	(157)	(190)
Defined Benefit Plan, Plan Assets, Payment for Settlement	0	(5)
Fair value of net plan assets as of the end of year	$ 1,351	$ 1,665	$ 1,635

Lessee - Lessee Future Minimum Operating Lease Maturity Payments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
2023	$ 52
2024	45
2025	43
2026	39
2027	39
Remaining years	161
Lessee, Operating Lease, Liability, to be Paid	379
Interest	73
Operating Lease, Liability	306	$ 315
Total property, plant and equipment	85,006	78,988
Construction work in progress
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
Total property, plant and equipment	4,534	3,698
Commonwealth Edison Co [Member]
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
2023	2
2024	0
2025	0
2026	0
2027	0
Remaining years	0
Lessee, Operating Lease, Liability, to be Paid	2
Interest	0
Operating Lease, Liability	2	5
Total property, plant and equipment	34,186	32,094
Commonwealth Edison Co [Member] \| Construction work in progress
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
Total property, plant and equipment	1,174	918
PECO Energy Co [Member]
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
2023	0
2024	0
2025	0
2026	0
2027	0
Remaining years	1
Lessee, Operating Lease, Liability, to be Paid	1
Interest	0
Operating Lease, Liability	1	1
Total property, plant and equipment	16,203	15,081
PECO Energy Co [Member] \| Construction work in progress
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
Total property, plant and equipment	744	620
Baltimore Gas and Electric Company [Member]
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
2023	1
2024	0
2025	0
2026	0
2027	0
Remaining years	18
Lessee, Operating Lease, Liability, to be Paid	19
Interest	15
Operating Lease, Liability	4	19
Total property, plant and equipment	15,921	14,876
Baltimore Gas and Electric Company [Member] \| Construction work in progress
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
Total property, plant and equipment	487	554
Pepco Holdings LLC [Member]
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
2023	37
2024	35
2025	34
2026	30
2027	29
Remaining years	67
Lessee, Operating Lease, Liability, to be Paid	232
Interest	34
Operating Lease, Liability	198	226
Total property, plant and equipment	20,304	18,606
Schedule of Lessee, Finance Lease, Liability, Maturity [Line Items]
2023	14
2024	14
2025	15
2026	15
2027	12
Remaining years	12
Finance Lease, Liability, to be Paid	82
Interest	6
Finance lease, liability	76	74
Pepco Holdings LLC [Member] \| Construction work in progress
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
Total property, plant and equipment	2,101	1,590
Potomac Electric Power Company [Member]
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
2023	7
2024	6
2025	6
2026	5
2027	4
Remaining years	20
Lessee, Operating Lease, Liability, to be Paid	48
Interest	8
Operating Lease, Liability	40	46
Total property, plant and equipment	12,861	11,979
Schedule of Lessee, Finance Lease, Liability, Maturity [Line Items]
2023	5
2024	5
2025	5
2026	5
2027	4
Remaining years	4
Finance Lease, Liability, to be Paid	28
Interest	3
Finance lease, liability	25	26
Potomac Electric Power Company [Member] \| Construction work in progress
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
Total property, plant and equipment	1,526	1,118
Delmarva Power & Light Company [Member]
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
2023	10
2024	9
2025	7
2026	5
2027	6
Remaining years	25
Lessee, Operating Lease, Liability, to be Paid	62
Interest	12
Operating Lease, Liability	50	57
Total property, plant and equipment	6,592	6,195
Schedule of Lessee, Finance Lease, Liability, Maturity [Line Items]
2023	6
2024	6
2025	6
2026	6
2027	5
Remaining years	5
Finance Lease, Liability, to be Paid	34
Interest	2
Finance lease, liability	32	29
Delmarva Power & Light Company [Member] \| Construction work in progress
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
Total property, plant and equipment	271	229
Atlantic City Electric Company [Member]
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
2023	4
2024	3
2025	2
2026	1
2027	1
Remaining years	0
Lessee, Operating Lease, Liability, to be Paid	11
Interest	1
Operating Lease, Liability	10	12
Total property, plant and equipment	5,541	5,149
Schedule of Lessee, Finance Lease, Liability, Maturity [Line Items]
2023	3
2024	3
2025	4
2026	4
2027	3
Remaining years	3
Finance Lease, Liability, to be Paid	20
Interest	1
Finance lease, liability	19	19
Atlantic City Electric Company [Member] \| Construction work in progress
Schedule of Lessee, Operating Lease, Liability, Maturity [Line Items]
Total property, plant and equipment	$ 296	$ 242

Lessee - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	$ 1,155	$ 766
Other deferred credits and other liabilities	1,967	1,573
Operating Lease, Liability	306	315
Other Noncurrent Assets [Member]
Supplemental Balance Sheet Information [Line Items]
Operating Lease, Right-of-Use Asset	265	271
Other Current Liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	40	52
Other deferred credits and other liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other deferred credits and other liabilities	266	263
Commonwealth Edison Co [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	191	133
Other deferred credits and other liabilities	642	592
Operating Lease, Liability	2	5
Commonwealth Edison Co [Member] \| Other Noncurrent Assets [Member]
Supplemental Balance Sheet Information [Line Items]
Operating Lease, Right-of-Use Asset	2	5
Commonwealth Edison Co [Member] \| Other Current Liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	2	2
Commonwealth Edison Co [Member] \| Other deferred credits and other liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other deferred credits and other liabilities	0	3
PECO Energy Co [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	32	35
Other deferred credits and other liabilities	85	83
Operating Lease, Liability	1	1
PECO Energy Co [Member] \| Other Noncurrent Assets [Member]
Supplemental Balance Sheet Information [Line Items]
Operating Lease, Right-of-Use Asset	1	1
PECO Energy Co [Member] \| Other Current Liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	0	0
PECO Energy Co [Member] \| Other deferred credits and other liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other deferred credits and other liabilities	1	1
Baltimore Gas and Electric Company [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	55	48
Other deferred credits and other liabilities	88	98
Operating Lease, Liability	4	19
Baltimore Gas and Electric Company [Member] \| Other Noncurrent Assets [Member]
Supplemental Balance Sheet Information [Line Items]
Operating Lease, Right-of-Use Asset	2	16
Baltimore Gas and Electric Company [Member] \| Other Current Liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	0	15
Baltimore Gas and Electric Company [Member] \| Other deferred credits and other liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other deferred credits and other liabilities	4	4
Pepco Holdings LLC [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	330	171
Other deferred credits and other liabilities	536	570
Operating Lease, Liability	198	226
Finance Lease, Liability, Current	12	10
Finance Lease, Liability, Noncurrent	64	64
Finance lease, liability	76	74
Pepco Holdings LLC [Member] \| Other Noncurrent Assets [Member]
Supplemental Balance Sheet Information [Line Items]
Operating Lease, Right-of-Use Asset	180	209
Pepco Holdings LLC [Member] \| Other Current Liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	31	31
Pepco Holdings LLC [Member] \| Other deferred credits and other liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other deferred credits and other liabilities	167	195
Pepco Holdings LLC [Member] \| Property, Plant and Equipment
Supplemental Balance Sheet Information [Line Items]
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	74	73
Potomac Electric Power Company [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	93	55
Other deferred credits and other liabilities	244	314
Operating Lease, Liability	40	46
Finance Lease, Liability, Current	4	3
Finance Lease, Liability, Noncurrent	21	23
Finance lease, liability	25	26
Potomac Electric Power Company [Member] \| Other Noncurrent Assets [Member]
Supplemental Balance Sheet Information [Line Items]
Operating Lease, Right-of-Use Asset	36	43
Potomac Electric Power Company [Member] \| Other Current Liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	6	6
Potomac Electric Power Company [Member] \| Other deferred credits and other liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other deferred credits and other liabilities	34	40
Potomac Electric Power Company [Member] \| Property, Plant and Equipment
Supplemental Balance Sheet Information [Line Items]
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	25	25
Delmarva Power & Light Company [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	136	59
Other deferred credits and other liabilities	84	89
Operating Lease, Liability	50	57
Finance Lease, Liability, Current	5	4
Finance Lease, Liability, Noncurrent	27	25
Finance lease, liability	32	29
Delmarva Power & Light Company [Member] \| Other Noncurrent Assets [Member]
Supplemental Balance Sheet Information [Line Items]
Operating Lease, Right-of-Use Asset	39	46
Delmarva Power & Light Company [Member] \| Other Current Liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	8	8
Delmarva Power & Light Company [Member] \| Other deferred credits and other liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other deferred credits and other liabilities	42	49
Delmarva Power & Light Company [Member] \| Property, Plant and Equipment
Supplemental Balance Sheet Information [Line Items]
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	31	29
Atlantic City Electric Company [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	58	12
Other deferred credits and other liabilities	100	49
Operating Lease, Liability	10	12
Finance Lease, Liability, Current	3	3
Finance Lease, Liability, Noncurrent	16	16
Finance lease, liability	19	19
Atlantic City Electric Company [Member] \| Other Noncurrent Assets [Member]
Supplemental Balance Sheet Information [Line Items]
Operating Lease, Right-of-Use Asset	9	11
Atlantic City Electric Company [Member] \| Other Current Liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other current liabilities	3	3
Atlantic City Electric Company [Member] \| Other deferred credits and other liabilities [Member]
Supplemental Balance Sheet Information [Line Items]
Other deferred credits and other liabilities	7	9
Atlantic City Electric Company [Member] \| Property, Plant and Equipment
Supplemental Balance Sheet Information [Line Items]
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 18	$ 19

Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Analysis and reconciliation of reportable segment information



	ComEd		PECO		BGE		PHI		Other(a)		Intersegment Eliminations		Exelon
Operating revenues(b):
2022
Electric revenues	$	5,761	$	3,165	$	2,871	$	5,317	$	—	$	(31)	$	17,083
Natural gas revenues	—		738		1,024		238		—		(5)		1,995
Shared service and other revenues	—		—		—		10		1,823		(1,833)		—
Total operating revenues	$	5,761	$	3,903	$	3,895	$	5,565	$	1,823	$	(1,869)	$	19,078
2021
Electric revenues	$	6,406	$	2,659	$	2,505	$	4,860	$	—	$	(35)	$	16,395
Natural gas revenues	—		539		836		168		—		—		1,543
Shared service and other revenues	—		—		—		13		2,213		(2,226)		—
Total operating revenues	$	6,406	$	3,198	$	3,341	$	5,041	$	2,213	$	(2,261)	$	17,938
2020
Electric revenues	$	5,904	$	2,543	$	2,336	$	4,485	$	—	$	(44)	$	15,224
Natural gas revenues	—		515		762		162		—		—		1,439
Shared service and other revenues	—		—		—		16		2,035		(2,051)		—
Total operating revenues	$	5,904	$	3,058	$	3,098	$	4,663	$	2,035	$	(2,095)	$	16,663

Intersegment revenues(c):
2022	$	16	$	7	$	15	$	10	$	1,823	$	(1,865)	$	6
2021	41		21		31		13		2,203		(2,252)		57
2020	37		9		20		17		2,024		(2,084)		23
Depreciation and amortization:
2022	$	1,323	$	373	$	630	$	938	$	61	$	—	$	3,325
2021	1,205		348		591		821		67		1		3,033
2020	1,133		347		550		782		79		—		2,891
Operating expenses:
2022	$	4,218	$	3,102	$	3,376	$	4,734	$	2,093	$	(1,762)	$	15,761
2021	5,151		2,547		2,860		4,240		2,045		(1,587)		15,256
2020	4,950		2,512		2,598		4,045		1,882		(1,502)		14,485
Interest expense, net:
2022	$	414	$	177	$	152	$	292	$	415	$	(3)	$	1,447
2021	389		161		138		267		335		(1)		1,289
2020	382		147		133		268		380		(3)		1,307





Income taxes:
2022	$	264	$	79	$	8	$	9	$	—	$	(11)	$	349
2021	172		12		(35)		42		8		(161)		38
2020	177		(30)		41		(77)		35		(153)		(7)
Net income (loss) from continuing operations:
2022	$	917	$	576	$	380	$	608	$	(393)	$	(34)	$	2,054
2021	742		504		408		561		(156)		(443)		1,616
2020	438		447		349		495		(184)		(446)		1,099
Capital expenditures:
2022	$	2,506	$	1,349	$	1,262	$	1,709	$	95	$	—	$	6,921
2021	2,387		1,240		1,226		1,720		67		—		6,640
2020	2,217		1,147		1,247		1,604		74		—		6,289
Total assets:
2022	$	39,661	$	14,502	$	13,350	$	26,082	$	6,014	$	(4,260)	$	95,349
2021	36,470		13,824		12,324		24,744		7,626		(8,319)		86,669

__________

(a)Other primarily includes Exelon’s corporate operations, shared service entities, and other financing and investment activities.

(c)See Note 23 — Related Party Transactions for additional information on intersegment revenues.

PHI:


	Pepco		DPL		ACE		Other(a)		Intersegment Eliminations		PHI
Operating revenues(b):
2022
Electric revenues	$	2,531	$	1,357	$	1,431	$	—	$	(2)	$	5,317
Natural gas revenues	—		238		—		—		—		238
Shared service and other revenues	—		—		—		391		(381)		10
Total operating revenues	$	2,531	$	1,595	$	1,431	$	391	$	(383)	$	5,565
2021
Electric revenues	$	2,274	$	1,212	$	1,388	$	—	$	(14)	$	4,860
Natural gas revenues	—		168		—		—		—		168
Shared service and other revenues	—		—		—		379		(366)		13
Total operating revenues	$	2,274	$	1,380	$	1,388	$	379	$	(380)	$	5,041
2020
Electric revenues	$	2,149	$	1,109	$	1,245	$	—	$	(18)	$	4,485
Natural gas revenues	—		162		—		—		—		162
Shared service and other revenues	—		—		—		372		(356)		16
Total operating revenues	$	2,149	$	1,271	$	1,245	$	372	$	(374)	$	4,663
Intersegment revenues(c):
2022	$	5	$	6	$	2	$	380	$	(383)	$	10
2021	5		7		2		380		(381)		13
2020	7		9		4		372		(375)		17
Depreciation and amortization:
2022	$	417	$	232	$	261	$	28	$	—	$	938
2021	403		210		179		29		—		821
2020	377		191		180		34		—		782
Operating expenses:
2022	$	2,140	$	1,359	$	1,225	$	393	$	(383)	$	4,734
2021	1,871		1,161		1,201		388		(381)		4,240
2020	1,799		1,120		1,123		378		(375)		4,045
Interest expense, net:
2022	$	150	$	66	$	66	$	9	$	1	$	292
2021	140		61		58		8		—		267
2020	138		61		59		10		—		268




Income taxes:
2022	$	(9)	$	14	$	3	$	1	$	—	$	9
2021	15		42		(13)		(2)		—		42
2020	(7)		(25)		(41)		(4)		—		(77)
Net income (loss):
2022	$	305	$	169	$	148	$	(14)	$	—	$	608
2021	296		128		146		(9)		—		561
2020	266		125		112		(8)		—		495
Capital expenditures:
2022	$	874	$	430	$	398	$	7	$	—	$	1,709
2021	843		429		445		3		—		1,720
2020	773		424		401		6		—		1,604
Total assets:
2022	$	10,657	$	5,802	$	4,979	$	4,677	$	(33)	$	26,082
2021	9,903		5,412		4,556		4,933		(60)		24,744

__________

(a)Other primarily includes PHI’s corporate operations, shared service entities, and other financing and investment activities.

(c)Includes intersegment revenues with ComEd, BGE, and PECO, which are eliminated at Exelon.

Schedule of Revenue by Major Customers by Reporting Segments


	2022

Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	3,304	$	2,026	$	1,564	$	2,590	$	1,076	$	750	$	764
Small commercial & industrial	1,173		521		327		607		155		235		217
Large commercial & industrial	5		299		567		1,422		1,083		137		202
Public authorities & electric railroads	29		30		27		64		34		15		15
Other(a)	955		271		398		695		208		227		252
Total electric revenues(b)	$	5,466	$	3,147	$	2,883	$	5,378	$	2,556	$	1,364	$	1,450
Natural gas revenues
Residential	$	—	$	512	$	678	$	127	$	—	$	127	$	—
Small commercial & industrial	—		186		111		55		—		55		—
Large commercial & industrial	—		—		183		12		—		12		—
Transportation	—		26		—		15		—		15		—
Other(c)	—		12		68		29		—		29		—
Total natural gas revenues(d)	$	—	$	736	$	1,040	$	238	$	—	$	238	$	—
Total revenues from contracts with customers	$	5,466	$	3,883	$	3,923	$	5,616	$	2,556	$	1,602	$	1,450
Other revenues
Revenues from alternative revenue programs	$	267	$	2	$	(47)	$	(59)	$	(31)	$	(9)	$	(19)
Other electric revenues(e)	28		16		14		8		6		2		—
Other natural gas revenues(e)	—		2		5		—		—		—		—

Total other revenues	$	295	$	20	$	(28)	$	(51)	$	(25)	$	(7)	$	(19)
Total revenues for reportable segments	$	5,761	$	3,903	$	3,895	$	5,565	$	2,531	$	1,595	$	1,431


	2021

Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	3,233	$	1,704	$	1,375	$	2,441	$	1,003	$	694	$	744
Small commercial & industrial	1,571		422		267		521		135		193		193
Large commercial & industrial	559		243		459		1,123		844		94		185
Public authorities & electric railroads	45		31		27		58		31		14		13
Other(a)	926		229		371		634		205		201		229
Total electric revenues(b)	$	6,334	$	2,629	$	2,499	$	4,777	$	2,218	$	1,196	$	1,364
Natural gas revenues
Residential	$	—	$	372	$	518	$	97	$	—	$	97	$	—
Small commercial & industrial	—		136		83		42		—		42		—
Large commercial & industrial	—		—		147		7		—		7		—
Transportation	—		24		—		14		—		14		—
Other(c)	—		7		68		8		—		8		—
Total natural gas revenues(d)	$	—	$	539	$	816	$	168	$	—	$	168	$	—
Total revenues from contracts with customers	$	6,334	$	3,168	$	3,315	$	4,945	$	2,218	$	1,364	$	1,364
Other revenues
Revenues from alternative revenue programs	$	42	$	26	$	12	$	91	$	53	$	14	$	24
Other electric revenues(e)	30		4		11		5		3		2		—
Other natural gas revenues(e)	—		—		3		—		—		—		—

Total other revenues	$	72	$	30	$	26	$	96	$	56	$	16	$	24
Total revenues for reportable segments	$	6,406	$	3,198	$	3,341	$	5,041	$	2,274	$	1,380	$	1,388


	2020
Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	3,090	$	1,656	$	1,345	$	2,332	$	988	$	652	$	692
Small commercial & industrial	1,399		386		241		472		132		171		169
Large commercial & industrial	515		228		406		1,001		736		89		176
Public authorities & electric railroads	45		29		27		60		34		13		13
Other(a)	884		225		309		613		218		190		207
Total electric revenues(b)	$	5,933	$	2,524	$	2,328	$	4,478	$	2,108	$	1,115	$	1,257
Natural gas revenues
Residential	$	—	$	361	$	504	$	96	$	—	$	96	$	—
Small commercial & industrial	—		126		79		42		—		42		—
Large commercial & industrial	—		—		135		4		—		4		—
Transportation	—		24		—		14		—		14		—
Other(c)	—		4		29		6		—		6		—
Total natural gas revenues(d)	$	—	$	515	$	747	$	162	$	—	$	162	$	—
Total revenues from contracts with customers	$	5,933	$	3,039	$	3,075	$	4,640	$	2,108	$	1,277	$	1,257
Other revenues
Revenues from alternative revenue programs	$	(47)	$	16	$	16	$	21	$	40	$	(7)	$	(12)
Other electric revenues(e)	18		3		5		2		1		1		—
Other natural gas revenues(e)	—		—		2		—		—		—		—

Total other revenues	$	(29)	$	19	$	23	$	23	$	41	$	(6)	$	(12)
Total revenues for reportable segments	$	5,904	$	3,058	$	3,098	$	4,663	$	2,149	$	1,271	$	1,245

__________

(a)Includes revenues from transmission revenue from PJM, wholesale electric revenue and mutual assistance revenue.

(b)Includes operating revenues from affiliates in 2022, 2021, and 2020 respectively of:

•$16 million, $41 million, and $37 million at ComEd

•$7 million, $20 million, and $8 million at PECO

•$7 million, $13 million, and $10 million at BGE

•$10 million, $13 million, and $17 million at PHI

•$5 million, $5 million, and $7 million at Pepco

•$6 million, $7 million, and $9 million at DPL

•$2 million, $2 million, and $4 million at ACE

(c)Includes revenues from off-system natural gas sales.

(d)Includes operating revenues from affiliates in 2022, 2021, and 2020 respectively of:

•less than $1 million, $1 million, and $1 million at PECO

•$8 million, $18 million, and $10 million at BGE

(e)Includes late payment charge revenues.

Accounts Receivable - Allowance for Credit Losses Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Line Items]
Current Period Provision for Expected Credit Losses	$ (173)	$ (160)	$ (150)
Commonwealth Edison Co [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Current Period Provision for Expected Credit Losses	(46)	(47)	(32)
PECO Energy Co [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Current Period Provision for Expected Credit Losses	(45)	(39)	(42)
Baltimore Gas and Electric Company [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Current Period Provision for Expected Credit Losses	(25)	(17)	(15)
Pepco Holdings LLC [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Current Period Provision for Expected Credit Losses	(58)	(24)	(43)
Potomac Electric Power Company [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Current Period Provision for Expected Credit Losses	(29)	(9)	(24)
Delmarva Power & Light Company [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Current Period Provision for Expected Credit Losses	(12)	(5)	(16)
Atlantic City Electric Company [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Current Period Provision for Expected Credit Losses	(16)	(10)	(2)
Customer accounts receivable
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	320	334
Current Period Provision for Expected Credit Losses	176	96
Writeoffs, net of recoveries	169	110
Ending balance	327	320	334
Customer accounts receivable \| Commonwealth Edison Co [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	73	97
Current Period Provision for Expected Credit Losses	29	21
Writeoffs, net of recoveries	43	45
Ending balance	59	73	97
Customer accounts receivable \| PECO Energy Co [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	105	116
Current Period Provision for Expected Credit Losses	52	23
Writeoffs, net of recoveries	52	34
Ending balance	105	105	116
Customer accounts receivable \| Baltimore Gas and Electric Company [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	38	35
Current Period Provision for Expected Credit Losses	37	15
Writeoffs, net of recoveries	21	12
Ending balance	54	38	35
Customer accounts receivable \| Pepco Holdings LLC [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	104	86
Current Period Provision for Expected Credit Losses	58	37
Writeoffs, net of recoveries	53	19
Ending balance	109	104	86
Customer accounts receivable \| Potomac Electric Power Company [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	37	32
Current Period Provision for Expected Credit Losses	31	13
Writeoffs, net of recoveries	21	8
Ending balance	47	37	32
Customer accounts receivable \| Delmarva Power & Light Company [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	18	22
Current Period Provision for Expected Credit Losses	12	6
Writeoffs, net of recoveries	9	10
Ending balance	21	18	22
Customer accounts receivable \| Atlantic City Electric Company [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	49	32
Current Period Provision for Expected Credit Losses	15	18
Writeoffs, net of recoveries	23	1
Ending balance	41	49	32
Other Receivables
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	72	71
Current Period Provision for Expected Credit Losses	26	11
Writeoffs, net of recoveries	16	10
Ending balance	82	72	71
Other Receivables \| Commonwealth Edison Co [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	17	21
Current Period Provision for Expected Credit Losses	3	(2)
Writeoffs, net of recoveries	3	2
Ending balance	17	17	21
Other Receivables \| PECO Energy Co [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	7	8
Current Period Provision for Expected Credit Losses	6	3
Writeoffs, net of recoveries	4	4
Ending balance	9	7	8
Other Receivables \| Baltimore Gas and Electric Company [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	9	9
Current Period Provision for Expected Credit Losses	6	4
Writeoffs, net of recoveries	5	4
Ending balance	10	9	9
Other Receivables \| Pepco Holdings LLC [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	39	33
Current Period Provision for Expected Credit Losses	11	6
Writeoffs, net of recoveries	4	0
Ending balance	46	39	33
Other Receivables \| Potomac Electric Power Company [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	16	13
Current Period Provision for Expected Credit Losses	9	3
Writeoffs, net of recoveries	0	0
Ending balance	25	16	13
Other Receivables \| Delmarva Power & Light Company [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	8	9
Current Period Provision for Expected Credit Losses	(1)	(1)
Writeoffs, net of recoveries	0	0
Ending balance	7	8	9
Other Receivables \| Atlantic City Electric Company [Member]
Accounts Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	15	11
Current Period Provision for Expected Credit Losses	3	4
Writeoffs, net of recoveries	4	0
Ending balance	$ 14	$ 15	$ 11

Accounts Receivable - Unbilled Customer Revenue (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenues	$ 912	$ 747
Commonwealth Edison Co [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenues	223	240
PECO Energy Co [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenues	219	161
Baltimore Gas and Electric Company [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenues	247	171
Pepco Holdings LLC [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenues	223	175
Potomac Electric Power Company [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenues	103	82
Delmarva Power & Light Company [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenues	74	53
Atlantic City Electric Company [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenues	$ 46	$ 40

Schedule I - Condensed Financial Information of Parent (Exelon Corporate)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule I - Condensed Financial Information of Parent (Exelon Corporate)

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Condensed Statements of Operations and Other Comprehensive Income


	For the Years Ended December 31,
(In millions)	2022		2021		2020
Operating expenses
Operating and maintenance	$	25	$	(9)	$	(2)
Operating and maintenance from affiliates	4		14		10
Other	2		2		2
Total operating expenses	31		7		10
Operating loss	(31)		(7)		(10)
Other income and (deductions)
Interest expense, net	(413)		(333)		(378)
Equity in earnings of investments	2,450		1,908		1,482
Interest income from affiliates, net	5		—		1
Other, net	22		—		15
Total other income	2,064		1,575		1,120
Income from continuing operations before income taxes	2,033		1,568		1,110
Income taxes	(21)		(48)		11
Net income from continuing operations after income taxes	2,054		1,616		1,099
Net income from discontinued operations after income taxes	116		90		864
Net income	$	2,170	$	1,706	$	1,963
Other comprehensive income (loss), net of income taxes
Pension and non-pension postretirement benefit plans:
Prior service benefit reclassified to periodic costs	$	(1)	$	(4)	$	(40)
Actuarial loss reclassified to periodic cost	42		223		190
Pension and non-pension postretirement benefit plan valuation adjustment	46		431		(357)
Unrealized gain (loss) on cash flow hedges	2		—		(1)
Other comprehensive income (loss)	89		650		(208)
Comprehensive income	$	2,259	$	2,356	$	1,755

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Condensed Statements of Cash Flows


	For the Years Ended December 31,
(In millions)	2022		2021		2020
Net cash flows provided by operating activities	$	1,690	$	3,629	$	3,018
Cash flows from investing activities
Changes in Exelon intercompany money pool	35		381		(477)
Notes receivable from affiliates	274		—		550

Investment in affiliates	(4,011)		(2,231)		(1,969)

Other investing activities	—		1		—
Net cash flows used in investing activities	(3,702)		(1,849)		(1,896)
Cash flows from financing activities
Changes in short-term borrowings	448		—		(136)
Proceeds from short-term borrowings with maturities greater than 90 days	1,150		500		—
Repayments on short-term borrowings with maturities greater than 90 days	(1,300)		(350)		—
Issuance of long-term debt	3,350		—		2,000
Retirement of long-term debt	(1,150)		(300)		(1,450)
Issuance of common stock	563		—		—

Dividends paid on common stock	(1,334)		(1,497)		(1,492)
Proceeds from employee stock plans	36		80		45
Other financing activities	(35)		19		(27)
Net cash flows provided by (used in) financing activities	1,728		(1,548)		(1,060)
(Decrease) increase in cash, restricted cash, and cash equivalents	(284)		232		62
Cash, restricted cash, and cash equivalents at beginning of period	295		63		1
Cash, restricted cash, and cash equivalents at end of period	$	11	$	295	$	63

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Condensed Balance Sheets


	December 31,
(In millions)	2022		2021
ASSETS
Current assets
Cash and cash equivalents	$	11	$	295


Accounts receivable, net
Other accounts receivable	358		318
Accounts receivable from affiliates	17		35
Notes receivable from affiliates	182		217
Regulatory assets	154		266
Other	6		41
Total current assets	728		1,172
Property, plant, and equipment, net	44		45
Deferred debits and other assets
Regulatory assets	2,650		3,164
Investments in affiliates from continuing operations	35,925		29,563
Investments in affiliates from discontinued operations	—		12,333
Deferred income taxes	929		1,351
Non-pension postretirement benefit asset	187		—
Notes receivable from affiliates	—		319
Other	115		42
Total deferred debits and other assets	39,806		46,772
Total assets	$	40,578	$	47,989

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Condensed Balance Sheets


	December 31,
(In millions)	2022		2021
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Short-term borrowings	$	948	$	650
Long-term debt due within one year	850		1,150
Accounts payable	188		—

Accrued expenses	101		47

Payables to affiliates	360		360
Regulatory liabilities	12		3
Pension obligations	77		49
Other	7		40
Total current liabilities	2,543		2,299
Long-term debt	8,742		6,265

Deferred credits and other liabilities
Regulatory liabilities	103		63
Pension obligations	3,896		4,416
Non-pension postretirement benefit obligations	—		87

Deferred income taxes	53		362
Other	497		104
Total deferred credits and other liabilities	4,549		5,032
Total liabilities	15,834		13,596
Commitments and contingencies
Shareholders’ equity
Common stock (No par value, 2,000 shares authorized, 994 shares and 979 shares outstanding as of December 31, 2022 and 2021, respectively)	20,908		20,324
Treasury stock, at cost (2 shares as of December 31, 2022 and 2021)	(123)		(123)
Retained earnings	4,597		16,942
Accumulated other comprehensive loss, net	(638)		(2,750)
Total shareholders’ equity	24,744		34,393

Total liabilities and shareholders’ equity	$	40,578	$	47,989

Exelon Corporation and Subsidiary Companies

Schedule I – Condensed Financial Information of Parent (Exelon Corporate)

Notes to Financial Statements

Exelon Corporate is a holding company that conducts substantially all of its business operations through its subsidiaries. These condensed financial statements and related footnotes have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X. These statements should be read in conjunction with the consolidated financial statements, and notes thereto, of Exelon Corporation.

As of December 31, 2022 and 2021, Exelon Corporate owned 100% of all of its significant subsidiaries, either directly or indirectly, except for Commonwealth Edison Company (ComEd), of which Exelon Corporate owns more than 99%. As of February 1, 2022, as a result of the completion of the separation, Exelon Corporate no longer retains any equity ownership interest in Generation or Constellation. The separation of Constellation, including Generation and its subsidiaries, meets the criteria for discontinued operations and as such, results of operations are presented as discontinued operations and have been excluded from continuing operations for all periods presented. Accounting rules require that certain BSC costs previously allocated to Generation be presented as part of Exelon’s continuing operations as these costs do not qualify as expenses of the discontinued operations. Comprehensive income and cash flows related to Generation have not been segregated and are included in the Condensed Statements of Operations and Comprehensive Income and Condensed Statements of Cash Flows, respectively, for all periods presented. See Note 2 — Discontinued Operations of the Combined Notes to Consolidated Financial Statements for additional information.

See Note 15—Derivative Financial Instruments of the Combined Notes to Consolidated Financial Statements for Exelon Corporate’s derivatives.

Short-Term Borrowings

Exelon Corporate meets its short-term liquidity requirements primarily through the issuance of commercial paper. Exelon Corporate had $449 million in outstanding commercial paper borrowings as of December 31, 2022 and no outstanding commercial paper as of December 31, 2021.

Short-Term Loan Agreements

On March 23, 2017, Exelon Corporate entered into a term loan agreement for $500 million. The loan agreement was renewed on March 14, 2022 and will expire on March 16, 2023. Pursuant to the loan agreement, loans made thereunder bear interest at a variable rate equal to SOFR plus 0.65% and all indebtedness thereunder is unsecured. The loan agreement is reflected in Exelon Corporation's Balance Sheets within Short-term borrowings.

On March 31, 2021, Exelon Corporate entered into a 364-day term loan agreement for $150 million with a variable interest rate of LIBOR plus 0.65% and an expiration date of March 30, 2022. Exelon Corporate repaid the term loan on March 30, 2022.

In connection with the separation, on January 24, 2022, Exelon Corporate entered into a 364-day term loan agreement for $1.15 billion. The loan agreement was set to expire on January 23, 2023. Pursuant to the loan agreement, loans made thereunder bore interest at a variable rate equal to SOFR plus 0.75% until July 23, 2022 and a rate of SOFR plus 0.975% thereafter. All indebtedness pursuant to the loan agreement was unsecured. On August 11, 2022, Exelon Corporate made a partial repayment of $575 million on the term loan. The remaining $575 million outstanding balance was repaid on October 11, 2022 in conjunction with the $500 million 18-month term loan that was entered into on October 7, 2022.

Revolving Credit Agreements

As of December 31, 2022, Exelon Corporation had a $900 million aggregate bank commitment under its existing syndicated revolving facility in which $448 million was available to support additional commercial paper as of December 31, 2022. See Note 16 — Debt and Credit Agreements of the Combined Notes to Consolidated Financial Statements for additional information regarding Exelon Corporate’s credit agreement.

On February 1, 2022, Exelon Corporate entered into a new 5-year revolving credit facility with an aggregate bank commitment of $900 million at a variable interest rate of SOFR plus 1.275% which replaced its existing $600 million syndicated revolving credit facility.

Long-Term Debt

The following tables present the outstanding long-term debt for Exelon Corporate as of December 31, 2022 and December 31, 2021:


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
Junior subordinated notes				3.50	%	2022	$	—	$	1,150

Senior unsecured notes(a)	2.75	%	-	7.60	%	2025 - 2052	8,139		6,139
Loan agreement	4.95	%	-	5.15	%	2023 - 2024	1,350		—
Total long-term debt							9,489		7,289
Unamortized debt discount and premium, net							(10)		(10)
Unamortized debt issuance costs							(51)		(39)
Fair value adjustment							164		175
Long-term debt due within one year(b)							(850)		(1,150)
Long-term debt							$	8,742	$	6,265

__________

(a)Senior unsecured notes included mirror debt that was held on Exelon Corporation's Balance Sheet in 2021. In connection with the separation, on January 31, 2022, Exelon Corporate received cash from Generation of $258 million to settle the intercompany loan. See Note 16 — Debt and Credit Agreements for additional information on the merger debt.

(b)In connection with the separation, Exelon Corporate entered into three 18-month term loan agreements. On January 21, 2022, two of the loan agreements were issued for $300 million each with an expiration date of July 21, 2023. On January 24, 2022, the third loan agreement was issued for $250 million with an expiration date of July 24, 2023. Pursuant to the loan agreement, loans made thereunder bear interest at a variable rate equal to SOFR plus 0.65%.

The long-term debt maturities for Exelon Corporate for the periods 2023 through 2027 and thereafter are as follows:


2023	$	850
2024	500
2025	807
2026	750
2027	650
Thereafter	5,932
Total long-term debt	$	9,489

See Note 18—Commitments and Contingencies of the Combined Notes to Consolidated Financial Statements for Exelon Corporate’s commitments and contingencies.

The financial statements of Exelon Corporate include related party transactions as presented in the tables below:


	For the Years Ended December 31,
(In millions)	2022		2021		2020
Operating and maintenance from affiliates:
BSC(a)	$	4	$	14	$	10

Total operating and maintenance from affiliates:	$	4	$	14	$	10
Interest income (expense) from affiliates, net:

BSC	$	4	$	—	$	1
EEDC(b)	1		—		—
Total interest income from affiliates, net:	$	5	$	—	$	1
Equity in earnings (losses) of investments:
BSC	$	(18)	$	(301)	$	(273)
EEDC(b)	2,482		2,215		1,729

PCI	(9)		(1)		—


Exelon InQB8R	(4)		(7)		(1)


Other	(1)		2		27
Total equity in earnings of investments:	$	2,450	$	1,908	$	1,482

Cash contributions received from affiliates	$	2,027	$	1,842	$	1,638


	As of December 31,
(in millions)	2022		2021
Accounts receivable from affiliates (current):
BSC(a)	$	3	$	4
Generation	—		13
ComEd	4		5
PECO	2		4
BGE	1		2
PHISCO	7		6
Exelon Enterprises	—		1

Total accounts receivable from affiliates (current):	$	17	$	35
Notes receivable from affiliates (current):
BSC(a)	$	138	$	210


PHI	44		7
Total notes receivable from affiliates (current):	$	182	$	217
Investments in affiliates from continuing operations:
BSC(a)	$	384	$	146
EEDC(b)	35,092		32,621
PCI	52		62
UII	365		365
Voluntary Employee Beneficiary Association trust	4		3
Exelon Enterprises	3		3
Conectiv	12		—
Exelon InQB8R	15		26
Other(d)	(2)		(3,663)
Total investments in affiliates from continuing operations:	$	35,925	$	29,563
Notes receivable from affiliates (noncurrent):
Generation(c)	$	—	$	319


Accounts payable to affiliates (current):

UII	$	360	$	360




Total accounts payable to affiliates (current):	$	360	$	360

__________

(a)Exelon Corporate receives a variety of corporate support services from BSC, including legal, human resources, financial, information technology, and supply management services. All services are provided at cost, including applicable overhead.

(b)EEDC consists of ComEd, PECO, BGE, PHI, Pepco, DPL, and ACE.

(c)In connection with the debt obligations assumed by Exelon as part of the Constellation merger, Exelon and subsidiaries of Generation (former Constellation subsidiaries) entered into intercompany loan agreements that mirror the terms and amounts of the third-party debt obligations of Exelon, resulting in intercompany notes receivable at Exelon Corporate from Generation. In connection with the separation, on January 31, 2022, Exelon Corporate received cash from Generation of $258 million to settle the intercompany loan. See Schedule 1 - 2. Debit and Credit agreements for additional information on the merger debt.

(d)Primarily relates to elimination of affiliate transactions with Generation, primarily related to the Regulatory Agreement Units. See Note 3 — Regulatory Matters and Note 23 — Related Party Transactions of the Combined Notes to Consolidated Financial Statements for additional information.

Charitable Contributions

In December 2022, Exelon Corporation made an unconditional promise to give $20 million to the Exelon Foundation. The contribution was recorded in Operating and maintenance expense within the Condensed Statements of Operations and Comprehensive Income with the offset in Accrued expenses and Other Deferred credits and other liabilities on the Condensed Balance Sheets.

Jointly Owned Electric Utility Plant - Ownership Interests in Jointly Owned Electric Plants and Transmission Facilities (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) V mi	Dec. 31, 2021 USD ($)
Delaware And New Jersey [Member]
Schedule Of Jointly Owned Utility Plant Net Ownership [Abstract]
Miles of transmission voltage lines \| mi	151.3
Transmission line capacity	500
Delaware River Crossing [Member]
Schedule Of Jointly Owned Utility Plant Net Ownership [Abstract]
Miles of transmission voltage lines \| mi	2.5
Transmission line capacity	500
New Freedom Switching [Member]
Schedule Of Jointly Owned Utility Plant Net Ownership [Abstract]
Transmission line capacity	500
Electric Transmission [Member] \| Delaware And New Jersey [Member]
Schedule Of Jointly Owned Utility Plant Net Ownership [Abstract]
Plant \| $	$ 103	$ 103
Accumulated depreciation \| $	$ 56	$ 55
PECO Energy Co [Member] \| Delaware And New Jersey [Member]
Schedule Of Jointly Owned Utility Plant Net Ownership [Abstract]
Ownership interest	42.55%
PECO Energy Co [Member] \| Delaware River Crossing [Member]
Schedule Of Jointly Owned Utility Plant Net Ownership [Abstract]
Ownership interest	42.55%
Delmarva Power & Light Company [Member] \| Delaware And New Jersey [Member]
Schedule Of Jointly Owned Utility Plant Net Ownership [Abstract]
Ownership interest	1.00%
Delmarva Power & Light Company [Member] \| Delaware River Crossing [Member]
Schedule Of Jointly Owned Utility Plant Net Ownership [Abstract]
Ownership interest	7.45%
Atlantic City Electric Company [Member] \| Delaware And New Jersey [Member]
Schedule Of Jointly Owned Utility Plant Net Ownership [Abstract]
Ownership interest	13.90%
Atlantic City Electric Company [Member] \| Delaware River Crossing [Member]
Schedule Of Jointly Owned Utility Plant Net Ownership [Abstract]
Ownership interest	7.45%
Atlantic City Electric Company [Member] \| New Freedom Switching [Member]
Schedule Of Jointly Owned Utility Plant Net Ownership [Abstract]
Ownership interest	21.78%

Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2021
Significant Accounting Policies Additional Narrative Information [Line Items]
Retained earnings/Undistributed earnings (losses)	$ 4,597	$ 16,942
Regulatory Liabilities	9,549	10,004
Deferred income taxes and unamortized investment tax credits	11,250	10,611
Net income (loss)	$ 2,171	1,829	$ 1,954
Minimum expectation of tax position to be realized	50.00%
Corporate, Non-Segment [Member]
Significant Accounting Policies Additional Narrative Information [Line Items]
Retained earnings/Undistributed earnings (losses)	$ 4,597	16,942
Net income (loss)	$ 2,170	$ 1,706	1,963
Commonwealth Edison Company [Member] \| Corporate, Non-Segment [Member]
Significant Accounting Policies Additional Narrative Information [Line Items]
Percentage ownership of consolidated subsidiaries	99.00%	99.00%
Exelon Generation Co L L C [Member]
Significant Accounting Policies Additional Narrative Information [Line Items]
Percentage ownership of consolidated subsidiaries		100.00%
Exelon significant subsidiaries \| Corporate, Non-Segment [Member]
Significant Accounting Policies Additional Narrative Information [Line Items]
Percentage ownership of consolidated subsidiaries	100.00%	100.00%
Pepco Holdings LLC [Member]
Significant Accounting Policies Additional Narrative Information [Line Items]
Retained earnings/Undistributed earnings (losses)	$ (352)	$ (210)
Regulatory Liabilities	1,087	1,306
Deferred income taxes and unamortized investment tax credits	2,895	2,675
Net income (loss)	608	$ 561	495
Pepco Holdings LLC [Member] \| Pepco Holdings LLC [Member]
Significant Accounting Policies Additional Narrative Information [Line Items]
Net income (loss)	$ 8
Pepco Holdings LLC [Member] \| Potomac Electric Power Company [Member]
Significant Accounting Policies Additional Narrative Information [Line Items]
Percentage ownership of consolidated subsidiaries	100.00%	100.00%
Pepco Holdings LLC [Member] \| Delmarva Power & Light Company [Member]
Significant Accounting Policies Additional Narrative Information [Line Items]
Percentage ownership of consolidated subsidiaries	100.00%	100.00%
Pepco Holdings LLC [Member] \| Atlantic City Electric Company [Member]
Significant Accounting Policies Additional Narrative Information [Line Items]
Percentage ownership of consolidated subsidiaries	100.00%	100.00%
Atlantic City Electric Company [Member]
Significant Accounting Policies Additional Narrative Information [Line Items]
Retained earnings/Undistributed earnings (losses)	$ (12)	$ (15)
Regulatory Liabilities	182	242
Deferred income taxes and unamortized investment tax credits	734	682
Net income (loss)	$ 148	146	$ 112
Atlantic City Electric Company [Member] \| Atlantic City Electric Company [Member]
Significant Accounting Policies Additional Narrative Information [Line Items]
Retained earnings/Undistributed earnings (losses)				$ 8
Regulatory Liabilities				11
Deferred income taxes and unamortized investment tax credits				$ 3
Net income (loss)		$ 1

Accounts Receivable (All Registrants)

12 Months Ended

Dec. 31, 2022

Credit Loss [Abstract]

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, 2022
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2021	$	320	$	73	$	105	$	38	$	104	$	37	$	18	$	49
Plus: Current period provision for expected credit losses(a)(b)	176		29		52		37		58		31		12		15
Less: Write-offs, net(c)(d)(e) of recoveries(f)	169		43		52		21		53		21		9		23

Balance as of December 31, 2022	$	327	$	59	$	105	$	54	$	109	$	47	$	21	$	41

	Year Ended December 31, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2020	$	334	$	97	$	116	$	35	$	86	$	32	$	22	$	32
Plus: Current period provision for expected credit losses	96		21		23		15		37		13		6		18
Less: Write-offs, net of recoveries	110		45		34		12		19		8		10		1
Balance as of December 31, 2021	$	320	$	73	$	105	$	38	$	104	$	37	$	18	$	49

_________

(a)For PECO, BGE, Pepco and DPL, the change in current period provision for expected credit losses is primarily a result of increased receivable balances.

(b)For ACE, the change in current period provision for expected credit losses is primarily a result of decreased receivable balances.

(c)For PECO, the change in write-offs is primarily a result of increased disconnection activities.

(e)For DPL, the change in write-offs is primarily a result of favorable customer payment behavior.

(f)Recoveries were not material to the Registrants.

The following tables present the rollforward of Allowance for Credit Losses on Other Accounts Receivable.


	Year Ended December 31, 2022
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2021	$	72	$	17	$	7	$	9	$	39	$	16	$	8	$	15
Plus: Current period provision (benefit) for expected credit losses	26		3		6		6		11		9		(1)		3
Less: Write-offs, net of recoveries(a)	16		3		4		5		4		—		—		4
Balance as of December 31, 2022	$	82	$	17	$	9	$	10	$	46	$	25	$	7	$	14

	Year Ended December 31, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2020	$	71	$	21	$	8	$	9	$	33	$	13	$	9	$	11
Plus: Current period provision (benefit) for expected credit losses	11		(2)		3		4		6		3		(1)		4
Less: Write-offs, net of recoveries	10		2		4		4		—		—		—		—
Balance as of December 31, 2021	$	72	$	17	$	7	$	9	$	39	$	16	$	8	$	15

_________

(a)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, 2022 and 2021.


	Unbilled customer revenues(a)
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
December 31, 2022	$	912	$	223	$	219	$	247	$	223	$	103	$	74	$	46
December 31, 2021	747		240		161		171		175		82		53		40

_________

(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

The Utility Registrants are 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 participate in the utilities' consolidated billing. The following tables present the total receivables purchased.


	Total receivables purchased
	Exelon(a)		ComEd(a)		PECO(a)		BGE(a)		PHI		Pepco		DPL		ACE
Year ended December 31, 2022	$	3,981	$	965	$	1,081	$	792	$	1,143	$	723	$	205	$	215
Year ended December 31, 2021	$	3,840	$	1,031	$	1,041	$	687	$	1,081	$	660	$	217	$	204

_________

Retirement Benefits - Components of Accumulated Other Comprehensive Income and Regulatory Assets (Liabilities) related to Retirement Plans (Details) - USD ($) $ in Millions	3 Months Ended	11 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Feb. 01, 2022
Defined Benefit Plan Disclosure [Line Items]
Accumulated Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Tax	$ 5					$ 1,994
Defined benefit plan, amounts recognized in regulatory assets, before tax	$ 30	$ 14
Pension Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial (gain) loss			$ (226)	$ (700)	$ 941
Amortization of actuarial loss			(295)	(598)	(512)
Accumulated Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Tax		(2,631)	(2,631)	0	0
Current year prior service cost (credit)			0	0	0
Amortization of prior service (cost) credit			(2)	(3)	(4)
Curtailments			0	0	0
Settlements			0	(27)	(14)
Total recognized in AOCI and regulatory assets (liabilities)			(3,154)	(1,328)	411
Defined benefit plan, amounts recognized in OCI, before tax			(2,719)	(747)	271
Defined benefit plan, amounts recognized in regulatory assets, before tax			(435)	(581)	140
Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial (gain) loss			(271)	(270)	22
Amortization of actuarial loss			(12)	(37)	(49)
Accumulated Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Tax		$ (43)	(43)	0	0
Current year prior service cost (credit)			0	0	(111)
Amortization of prior service (cost) credit			19	34	124
Curtailments			0	0	1
Settlements			0	(1)	(1)
Total recognized in AOCI and regulatory assets (liabilities)			(307)	(274)	(14)
Defined benefit plan, amounts recognized in OCI, before tax			(74)	(130)	6
Defined benefit plan, amounts recognized in regulatory assets, before tax			$ (233)	$ (144)	$ (20)

Significant Accounting Policies (All Registrants)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Significant Accounting Policies (All Registrants)

Description of Business (All Registrants)

Exelon is a utility services holding company engaged in the energy distribution and transmission businesses through ComEd, PECO, BGE, Pepco, DPL, and ACE.

On February 21, 2021, Exelon’s Board of Directors approved a plan to separate the Utility Registrants and Generation. The separation was completed on February 1, 2022, creating two publicly traded companies, Exelon and Constellation. See Note 2 — Discontinued Operations for additional information.

Name of Registrant

Business

Service Territories

Commonwealth Edison Company

Purchase and regulated retail sale of electricity

Northern Illinois, including the City of Chicago

Transmission and distribution of electricity to retail customers

PECO Energy Company

Purchase and regulated retail sale of electricity and natural gas

Southeastern Pennsylvania, including the City of Philadelphia (electricity)

Transmission and distribution of electricity and distribution of natural gas to retail customers

Pennsylvania counties surrounding the City of Philadelphia (natural gas)

Baltimore Gas and Electric Company

Purchase and regulated retail sale of electricity and natural gas

Central Maryland, including the City of Baltimore (electricity and natural gas)

Transmission and distribution of electricity and distribution of natural gas to retail customers

Pepco Holdings LLC

Utility services holding company engaged, through its reportable segments Pepco, DPL, and ACE

Service Territories of Pepco, DPL, and ACE

Potomac Electric Power Company

Purchase and regulated retail sale of electricity

District of Columbia, and major portions of Montgomery and Prince George’s Counties, Maryland.

Transmission and distribution of electricity to retail customers

Delmarva Power & Light Company

Purchase and regulated retail sale of electricity and natural gas

Portions of Delaware and Maryland (electricity)

Transmission and distribution of electricity and distribution of natural gas to retail customers

Portions of New Castle County, Delaware (natural gas)

Atlantic City Electric Company

Purchase and regulated retail sale of electricity

Portions of Southern New Jersey

Transmission and distribution of electricity to retail customers

Basis of Presentation (All Registrants)

This is a combined annual report of all Registrants. The Notes to the Consolidated Financial Statements apply to the Registrants as indicated parenthetically next to each corresponding disclosure. When appropriate, the Registrants are named specifically for their related activities and disclosures. Each of the Registrant’s Consolidated Financial Statements includes the accounts of its subsidiaries. All intercompany transactions have been eliminated, except for the historical transactions between the Utility Registrants and Generation for the purposes of presenting discontinued operations in all periods presented in the Consolidated Statements of Operations and Comprehensive Income.

Through its business services subsidiary, BSC, Exelon provides its subsidiaries with a variety of support services at cost, including legal, human resources, financial, information technology, and supply management services. PHI also has a business services subsidiary, PHISCO, which provides a variety of support services at cost, including legal, finance, engineering, customer operations, distribution and transmission planning, asset management, system operations, and power procurement, to PHI operating companies. The costs of BSC and PHISCO are directly charged or allocated to the applicable subsidiaries. The results of Exelon’s corporate operations are presented as “Other” within the consolidated financial statements and include intercompany eliminations unless otherwise disclosed.

As of December 31, 2022 and 2021, Exelon owned 100% of PECO, BGE, and PHI and more than 99% of ComEd. PHI owns 100% of Pepco, DPL, and ACE. As of December 31, 2021, Exelon owned 100% of Generation. As of February 1, 2022, as a result of the completion of the separation, Exelon no longer owns any interest in Generation. The separation of Constellation, including Generation and its subsidiaries, meets the

criteria for discontinued operations and as such, its results of operations are presented as discontinued operations and have been excluded from continuing operations for all periods presented. Accounting rules require that certain BSC costs previously allocated to Generation be presented as part of Exelon’s continuing operations as these costs do not qualify as expenses of the discontinued operations. Comprehensive income, shareholders' equity, and cash flows related to Generation have not been segregated and are included in the Consolidated Statements of Operations and Comprehensive Income, Consolidated Statements of Changes in Shareholders’ Equity, and Consolidated Statements of Cash Flows, respectively, for all periods presented. See Note 2 — Discontinued Operations for additional information.

The accompanying consolidated financial statements have been prepared in accordance with GAAP for annual financial statements and in accordance with the instructions to Form 10-K and Regulation S-X promulgated by the SEC.

COVID-19 (All Registrants)

The Registrants have taken steps to mitigate the potential risks posed by the global outbreak (pandemic) of the 2019 novel coronavirus (COVID-19). The Registrants provide a critical service to their customers and have taken measures to keep employees who operate the business safe and minimize unnecessary risk of exposure to the virus, including extra precautions for employees who work in the field. The Registrants have implemented work from home policies where appropriate and imposed travel limitations on employees.

Management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and accompanying notes, and the amounts of revenues and expenses reported during the periods covered by those financial statements and accompanying notes. As of December 31, 2022 and 2021, and through the date of this report, management assessed certain accounting matters that require consideration of forecasted financial information, including, but not limited to, allowance for credit losses and the carrying value of goodwill and other long-lived assets, in context with the information reasonably available and the unknown future impacts of COVID-19. The Registrants' future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to their consolidated financial statements in future reporting periods.

Use of Estimates (All Registrants)

The preparation of financial statements of each of the Registrants in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Areas in which significant estimates have been made include, but are not limited to, the accounting for pension and OPEB, unbilled energy revenues, allowance for credit losses, inventory reserves, goodwill and long-lived asset impairment assessments, derivative instruments, unamortized energy contracts, fixed asset depreciation, environmental costs and other loss contingencies, AROs, and taxes. Actual results could differ from those estimates.

Prior Period Adjustments and Reclassifications (Exelon, PHI, ACE)

In the first quarter of 2022, management identified an error related to an overstatement of the regulatory liability associated with ACE’s mechanism to recover the cost of Transition Bonds issued in 2002 and 2003 by ACE Funding. Management has concluded that the error was not material to previously issued financial statements for Exelon, PHI or ACE.

The error was corrected through a revision to ACE’s financial statements contained herein. The impact of the error correction was an $8 million increase to ACE’s opening Retained earnings as of January 1, 2021 with a corresponding reduction to Regulatory liabilities of $11 million and an increase to Deferred income taxes and unamortized investment tax credits of $3 million. The impact of the error to ACE’s Total operating revenues and Net income was less than $1 million for the year ended December 31, 2021. The error did not impact net cash flows provided by operating activities, net cash flows used in investing activities or net cash flows provided by financing activities for the year ended December 31, 2021.

The error was corrected in the Exelon and PHI financial statements for the year ended December 31, 2022 as it was not material, resulting in an increase to Net income of $8 million.

Regulatory Accounting (All Registrants)

For their regulated electric and gas operations, the Registrants reflect the effects of cost-based rate regulation in their financial statements, which is required for entities with regulated operations that meet the following criteria: (1) rates are established or approved by a third-party regulator; (2) rates are designed to recover the entities’ cost of providing services or products; and (3) there is a reasonable expectation that rates designed to recover costs can be charged to and collected from customers. The Registrants account for their regulated operations in accordance with regulatory and legislative guidance from the regulatory authorities having jurisdiction, principally the ICC, PAPUC, MDPSC, DCPSC, DEPSC, and NJBPU, under state public utility laws and the FERC under various Federal laws. Regulatory assets and liabilities are amortized and the related expense or revenue is recognized in the Consolidated Statements of Operations consistent with the recovery or refund included in customer rates. The Registrants' regulatory assets and liabilities as of the balance sheet date are probable of being recovered or settled in future rates. If a separable portion of the Registrants' business was no longer able to meet the criteria discussed above, the affected entities would be required to eliminate from their consolidated financial statements the effects of regulation for that portion, which could have a material impact on their financial statements. See Note 3 — Regulatory Matters for additional information.

With the exception of income tax-related regulatory assets and liabilities, the Registrants classify regulatory assets and liabilities with a recovery or settlement period greater than one year as both current and noncurrent in their Consolidated Balance Sheets, with the current portion representing the amount expected to be recovered from or refunded to customers over the next twelve-month period as of the balance sheet date. Income tax-related regulatory assets and liabilities are classified entirely as noncurrent in the Registrants’ Consolidated Balance Sheets to align with the classification of the related deferred income tax balances.

The Registrants treat the impacts of a final rate order received after the balance sheet date but prior to the issuance of the financial statements as a non-recognized subsequent event, as the receipt of a final rate order is a separate and distinct event that has future impacts on the parties affected by the order.

Revenues (All Registrants)

Operating Revenues. The Registrants’ operating revenues generally consist of revenues from contracts with customers involving the sale and delivery of power and natural gas and utility revenues from ARP. The Registrants recognize revenue from contracts with customers to depict the transfer of goods or services to customers in an amount that the entities expect to be entitled to in exchange for those goods or services. The primary sources of revenue include regulated electric and natural gas tariff sales, distribution, and transmission services. At the end of each month, the Registrants accrue an estimate for the unbilled amount of energy delivered or services provided to customers.

ComEd records ARP revenue for its best estimate of the electric distribution, energy efficiency, and transmission revenue impacts resulting from future changes in rates that ComEd believes are probable of approval by the ICC and FERC in accordance with its formula rate mechanisms. BGE, Pepco, DPL, and ACE record ARP revenue for their best estimate of the electric and natural gas distribution revenue impacts resulting from future changes in rates that they believe are probable of approval by the MDPSC, DCPSC, and/or NJBPU in accordance with their revenue decoupling mechanisms. PECO, BGE, Pepco, DPL, and ACE record ARP revenue for their best estimate of the transmission revenue impacts resulting from future changes in rates that they believe are probable of approval by FERC in accordance with their formula rate mechanisms. The companies recognize all ARP revenues that will be collected within 24 months of the end of the annual period in which they are recorded. See Note 3 — Regulatory Matters for additional information.

Taxes Directly Imposed on Revenue-Producing Transactions. The Registrants collect certain taxes from customers such as sales and gross receipts taxes, along with other taxes, surcharges, and fees, that are levied by state or local governments on the sale or distribution of electricity and gas. Some of these taxes are imposed on the customer, but paid by the Registrants, while others are imposed on the Registrants. Where these taxes are imposed on the customer, such as sales taxes, they are reported on a net basis with no impact to the Consolidated Statements of Operations and Comprehensive Income. However, where these taxes are imposed on the Registrants, such as gross receipts taxes or other surcharges or fees, they are reported on a gross basis. Accordingly, revenues are recognized for the taxes collected from customers along with an offsetting expense. See Note 22 — Supplemental Financial Information for taxes that are presented on a gross basis.

Leases (All Registrants)

The Registrants recognize a ROU asset and lease liability for operating and finance leases with a term of greater than one year. Operating lease ROU assets are included in Other deferred debits and other assets and operating lease liabilities are included in Other current liabilities and Other deferred credits and other liabilities on the Consolidated Balance Sheets. Finance lease ROU assets are included in Plant, property, and equipment, net and finance lease liabilities are included in Long-term debt due within one year and Long-term debt on the Consolidated Balance Sheets. The ROU asset is measured as the sum of (1) the present value of all remaining fixed and in-substance fixed payments using the rate implicit in the lease whenever that is readily determinable or each Registrant’s incremental borrowing rate, (2) any lease payments made at or before the commencement date (less any lease incentives received), and (3) any initial direct costs incurred. The lease liability is measured the same as the ROU asset, but excludes any payments made before the commencement date and initial direct costs incurred. Lease terms include options to extend or terminate the lease if it is reasonably certain they will be exercised. The Registrants include non-lease components for most asset classes, which are service-related costs that are not integral to the use of the asset, in the measurement of the ROU asset and lease liability.

Expense for operating leases and leases with a term of one year or less is recognized on a straight-line basis over the term of the lease, unless another systematic and rational basis is more representative of the derivation of benefit from use of the leased property. Variable lease payments are recognized in the period in which the related obligation is incurred. Operating lease expense, finance lease expense, and variable lease payments are primarily recorded to Operating and maintenance expense on the Registrants’ Statements of Operations and Comprehensive Income.

Income from operating leases, including subleases, is recognized on a straight-line basis over the term of the lease, unless another systematic and rational basis is more representative of the pattern in which income is earned over the term of the lease. Variable lease income is recognized in the period in which the related obligation is performed. Operating lease income and variable lease income are recorded to Operating revenues on the Registrants’ Statements of Operations and Comprehensive Income.

The Registrants’ operating and finance leases consist primarily of real estate including office buildings and vehicles and equipment. The Registrants account for land right arrangements that provide for exclusive use as leases while shared use land arrangements are generally not leases. The Registrants do not account for secondary use pole attachments as leases.

See Note 10 — Leases for additional information.

Income Taxes (All Registrants)

Deferred federal and state income taxes are recorded on significant temporary differences between the book and tax basis of assets and liabilities and for tax benefits carried forward. Investment tax credits have been deferred in the Registrants’ Consolidated Balance Sheets and are recognized in book income over the life of the related property. The Registrants account for uncertain income tax positions using a benefit recognition model with a two-step approach; a more-likely-than-not recognition criterion; and a measurement approach that measures the position as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. If it is not more-likely-than-not that the benefit of the tax position will be sustained on its technical merits, no benefit is recorded. Uncertain tax positions that relate only to timing of when an item is included on a tax return are considered to have met the recognition threshold. The Registrants recognize accrued interest related to unrecognized tax benefits in Interest expense, net or Other, net (interest income) and recognize penalties related to unrecognized tax benefits in Other, net in their Consolidated Statements of Operations and Comprehensive Income.

Cash and Cash Equivalents (All Registrants)

The Registrants consider investments purchased with an original maturity of three months or less to be cash equivalents.

Restricted Cash and Cash Equivalents (All Registrants)

Restricted cash and cash equivalents represent funds that are restricted to satisfy designated current liabilities. As of December 31, 2022 and 2021, the Registrants' restricted cash and cash equivalents primarily represented the following items:


Registrant			Description
Exelon			Payment of medical, dental, vision, and long-term disability benefits, in addition to the items listed below for the Utility Registrants.
ComEd			Collateral held from suppliers associated with energy and REC procurement contracts, any over-recovered RPS costs and alternative compliance payments received from RES pursuant to FEJA, and costs for the remediation of an MGP site.
PECO			Proceeds from the sales of assets that were subject to PECO’s mortgage indenture.
BGE			Proceeds from the loan program for the completion of certain energy efficiency measures and collateral held from energy suppliers.
PHI(a)			Payment of merger commitments, collateral held from its energy suppliers associated with procurement contracts, and repayment of Transition Bonds
Pepco			Payment of merger commitments and collateral held from energy suppliers.
DPL			Collateral held from energy suppliers.
ACE(a)			Repayment of Transition Bonds

__________

(a) As of December 31, 2021, the Transition Bonds were fully redeemed.

Restricted cash and cash equivalents not available to satisfy current liabilities are classified as noncurrent assets. As of December 31, 2022 and 2021, the Registrants' noncurrent restricted cash and cash equivalents primarily represented ComEd’s over-recovered RPS costs and alternative compliance payments received from RES pursuant to FEJA and costs for the remediation of an MGP site.

See Note 16 — Debt and Credit Agreements and Note 22 — Supplemental Financial Information for additional information.

Allowance for Credit Losses on Accounts Receivables (All Registrants)

The allowance for credit losses reflects the Registrants’ best estimates of losses on the customers' accounts receivable balances based on historical experience, current information, and reasonable and supportable forecasts.

The allowance for credit losses is developed by applying loss rates for each Utility Registrant, based on historical loss experience, current conditions, and forward-looking risk factors, to the outstanding receivable balance by customer risk segment. Utility Registrants' customer accounts are written off consistent with approved regulatory requirements. Adjustments to the allowance for credit losses are primarily recorded to Operating and maintenance expense on the Registrants' Consolidated Statements of Operations and Comprehensive Income or Regulatory assets and liabilities on the Registrants' Consolidated Balance Sheets. See Note 3 - Regulatory Matters for additional information regarding the regulatory recovery of credit losses on customer accounts receivable.

The Registrants have certain non-customer receivables in Other deferred debits and other assets which primarily are with governmental agencies and other high-quality counterparties with no history of default. As such, the allowance for credit losses related to these receivables is not material. The Registrants monitor these balances and will record an allowance if there are indicators of a decline in credit quality. See Note 6 — Accounts Receivable for additional information.

Inventories (All Registrants)

Inventory is recorded at the lower of weighted average cost or net realizable value. Provisions are recorded for excess and obsolete inventory. Fossil fuel and materials and supplies are generally included in inventory when purchased. Fossil fuel is expensed to Purchased power and fuel expense when used or sold. Materials and supplies generally includes transmission and distribution materials and are expensed to Operating and maintenance or capitalized to Property, plant, and equipment, as appropriate, when installed or used.

Property, Plant, and Equipment (All Registrants)

Property, plant, and equipment is recorded at original cost. Original cost includes construction-related direct labor and material costs and indirect construction costs including labor and related costs of departments associated with supporting construction activities. When appropriate, original cost also includes AFUDC for regulated property at the Utility Registrants. The cost of repairs and maintenance and minor replacements of property is charged to Operating and maintenance expense as incurred.

Third parties reimburse the Utility Registrants for all or a portion of expenditures for certain capital projects. Such contributions in aid of construction costs (CIAC) are recorded as a reduction to Property, plant, and equipment, net.

Upon retirement, the cost of property, net of salvage, is charged to accumulated depreciation consistent with the composite and group methods of depreciation. Depreciation expense at ComEd, BGE, Pepco, DPL, and ACE includes the estimated cost of dismantling and removing plant from service upon retirement. Actual incurred removal costs are applied against a related regulatory liability or recorded to a regulatory asset if in excess of previously collected removal costs. PECO’s removal costs are capitalized to accumulated depreciation when incurred and recorded to depreciation expense over the life of the new asset constructed consistent with PECO’s regulatory recovery method.

Capitalized Software. Certain costs, such as design, coding, and testing incurred during the application development stage of software projects that are internally developed or purchased for operational use are capitalized within Property, plant, and equipment. Similar costs incurred for cloud-based solutions treated as service arrangements are capitalized within Other Current Assets and Deferred Debits and Other Assets. Such capitalized amounts are amortized ratably over the expected lives of the projects when they become operational, generally not to exceed five years. Certain other capitalized software costs are being amortized over longer lives based on the expected life or pursuant to prescribed regulatory requirements.

AFUDC. AFUDC is the cost, during the period of construction, of debt and equity funds used to finance construction projects for regulated operations. AFUDC is recorded to construction work in progress and as a non-cash credit to an allowance that is included in interest expense for debt-related funds and other income and deductions for equity-related funds. The rates used for capitalizing AFUDC are computed under a method prescribed by regulatory authorities.

See Note 7 — Property, Plant, and Equipment, Note 8 — Jointly Owned Electric Utility Plant and Note 22 — Supplemental Financial Information for additional information.

Depreciation and Amortization (All Registrants)

Depreciation is generally recorded over the estimated service lives of property, plant, and equipment on a straight-line basis using the group or composite methods of depreciation. The group approach is typically for groups of similar assets that have approximately the same useful lives and the composite approach is used for dissimilar assets that have different lives. Under both methods, a reporting entity depreciates the assets over the average life of the assets in the group. ComEd, BGE, Pepco, DPL, and ACE's depreciation expense includes the estimated cost of dismantling and removing plant from service upon retirement, which is consistent with each utility's regulatory recovery method. PECO's removal costs are capitalized to accumulated depreciation when incurred and recorded to depreciation expense over the life of the new asset constructed consistent with PECO's regulatory recovery method. The estimated service lives for the Registrants are based on a combination of depreciation studies and historical retirements. See Note 7 — Property, Plant, and Equipment for additional information regarding depreciation.

Amortization of regulatory assets and liabilities are recorded over the recovery or refund period specified in the related legislation or regulatory order or agreement. When the recovery or refund period is less than one year, amortization is recorded to the line item in which the deferred cost or income would have originally been recorded in the Registrants’ Consolidated Statements of Operations and Comprehensive Income. Amortization of ComEd’s electric distribution and energy efficiency formula rate regulatory assets and the Utility Registrants' transmission formula rate regulatory assets is recorded to Operating revenues.

Amortization of income tax related regulatory assets and liabilities is generally recorded to Income tax expense. Except for the regulatory assets and liabilities discussed above, amortization is generally recorded to

Depreciation and amortization in the Registrants’ Consolidated Statements of Operations and Comprehensive Income when the recovery period is more than one year.

See Note 3 — Regulatory Matters and Note 22 — Supplemental Financial Information for additional information regarding the amortization of the Registrants' regulatory assets.

Asset Retirement Obligations (All Registrants)

The Registrants estimate and recognize a liability for their legal obligation to perform asset retirement activities even though the timing and/or methods of settlement may be conditional on future events. The Registrants update their AROs either annually or on a rotational basis at least once every three years, based on a risk profile, unless circumstances warrant more frequent updates. The updates factor in new cost estimates, credit-adjusted, risk-free rates (CARFR) and escalation rates, and the timing of cash flows. AROs are accreted throughout each year to reflect the time value of money for these present value obligations through an increase to regulatory assets. See Note 9 — Asset Retirement Obligations for additional information.

Guarantees (All Registrants)

If necessary, the Registrants recognize a liability at the time of issuance of a guarantee for the fair value of the obligations they have undertaken by issuing the guarantee. The liability is reduced or eliminated as the Registrants are released from risk under the guarantee. Depending on the nature of the guarantee, the release from risk of the Registrant may be recognized only upon the expiration or settlement of the guarantee or by a systematic and rational amortization method over the term of the guarantee. See Note 18 — Commitments and Contingencies for additional information.

Asset Impairments

Long-Lived Assets (All Registrants). The Registrants evaluate the carrying value of long-lived assets for recoverability whenever events or changes in circumstances indicate that the carrying value of those assets may not be recoverable. Indicators of impairment may include specific regulatory disallowance, abandonment, or plans to dispose of a long-lived asset significantly before the end of its useful life. When the estimated undiscounted future cash flows attributable to the long-lived asset may not be recoverable, the amount of the impairment loss is determined by measuring the excess of the carrying amount of the long-lived asset over its fair value.

Goodwill (Exelon, ComEd, and PHI). Goodwill represents the excess of the purchase price paid over the estimated fair value of the net assets acquired and liabilities assumed in the acquisition of a business. Goodwill is not amortized but is assessed for impairment at least annually or on an interim basis if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. See Note 12 — Intangible Assets for additional information.

Derivative Financial Instruments (All Registrants)

Derivatives are recognized on the balance sheet at their fair value unless they qualify for certain exceptions, including NPNS. For derivatives that qualify and are designated as cash flow hedges, changes in fair value each period are initially recorded in AOCI and recognized in earnings when the underlying hedged transaction affects earnings. Amounts recognized in earnings are recorded in Interest expense, net on the Consolidated Statement of Operations and Comprehensive Income based on the activity the transaction is economically hedging. Cash inflows and outflows related to derivative instruments designated as cash flow hedges are included as a component of operating, investing, or financing cash flows in the Consolidated Statements of Cash Flows, depending on the nature of each transaction.

For derivatives intended to serve as economic hedges, which are not designated for hedge accounting, changes in fair value each period are recognized in earnings or as a regulatory asset or liability each period. Amounts recognized in earnings are recorded in Electric operating revenues, Purchased power and fuel, or Interest expense in the Consolidated Statements of Operations and Comprehensive Income based on the activity the transaction is economically hedging. Changes in fair value are also recorded as a regulatory asset or liability when there is an ability to recover or return the associated costs or benefits in accordance with regulatory requirements. Cash inflows and outflows related to derivative instruments are included as a component of operating, investing, or financing cash flows in the Consolidated Statements of Cash Flows, depending on the

nature of the hedged item. See Note 3 — Regulatory Matters and Note 15 — Derivative Financial Instruments for additional information.

Retirement Benefits (All Registrants)

Exelon sponsors defined benefit pension plans and OPEB plans for substantially all current employees.

The plan obligations and costs of providing benefits under these plans are measured as of December 31. The measurement involves various factors, assumptions, and accounting elections. The impact of assumption changes or experience different from that assumed on pension and OPEB obligations is recognized over time rather than immediately recognized in the Consolidated Statements of Operations and Comprehensive Income. Gains or losses in excess of the greater of ten percent of the projected benefit obligation or the MRV of plan assets are amortized over the expected average remaining service period of plan participants. See Note 14 — Retirement Benefits for additional information.

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

The following tables present a summary of property, plant, and equipment by asset category as of December 31, 2022 and 2021:


Asset Category	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
December 31, 2022
Electric—transmission and distribution	$	69,034	$	32,906	$	10,719	$	9,993	$	17,165	$	11,270	$	5,231	$	5,219
Gas—transportation and distribution	8,126		—		3,619		4,074		696		—		855		—
Common—electric and gas	2,521		—		1,071		1,317		228		—		206		—
Construction work in progress	4,534		1,174		744		487		2,101		1,526		271		296
Other property, plant, and equipment(a)	791		106		50		50		114		65		29		26
Total property, plant, and equipment	85,006		34,186		16,203		15,921		20,304		12,861		6,592		5,541
Less: accumulated depreciation	15,930		6,673		4,078		4,583		2,618		4,067		1,772		1,551
Property, plant, and equipment, net	$	69,076	$	27,513	$	12,125	$	11,338	$	17,686	$	8,794	$	4,820	$	3,990

December 31, 2021
Electric—transmission and distribution	$	64,771	$	31,077	$	10,076	$	9,352	$	16,062	$	10,798	$	4,957	$	4,882
Gas—transportation and distribution	7,429		—		3,339		3,712		646		—		806		—
Common—electric and gas	2,335		—		1,005		1,224		201		—		180		—
Construction work in progress	3,698		918		620		554		1,590		1,118		229		242
Other property, plant and equipment(a)	755		99		41		34		107		63		23		25
Total property, plant and equipment	78,988		32,094		15,081		14,876		18,606		11,979		6,195		5,149
Less: accumulated depreciation	14,430		6,099		3,964		4,299		2,108		3,875		1,635		1,420
Property, plant, and equipment, net	$	64,558	$	25,995	$	11,117	$	10,577	$	16,498	$	8,104	$	4,560	$	3,729

__________

(a)Primarily composed of land and non-utility property.

The following table presents the average service life for each asset category in number of years:


	Average Service Life (years)
Asset Category	Exelon	ComEd	PECO	BGE	PHI	Pepco	DPL	ACE
Electric - transmission and distribution	5-80	5-80	5-70	5-80	5-75	5-75	5-75	5-75
Gas - transportation and distribution	5-80	N/A	5-70	5-80	5-75	N/A	5-75	N/A
Common - electric and gas	4-75	N/A	5-55	4-50	5-75	N/A	5-75	N/A
Other property, plant, and equipment	4-61	31-50	50	20-50	10-43	10-33	10-43	13-15

Property Plant And Equipment Average Service Life Percentage By Asset Category Table

The following table presents the annual depreciation rates for each asset category.


	Annual Depreciation Rates
	Exelon	ComEd	PECO	BGE	PHI	Pepco	DPL	ACE
December 31, 2022
Electric—transmission and distribution	2.87%	3.00%	2.29%	2.82%	2.96%	2.58%	3.08%	3.38%
Gas—transportation and distribution	2.14%	N/A	1.87%	2.53%	1.45%	N/A	1.45%	N/A
Common—electric and gas	7.54%	N/A	6.31%	8.20%	8.96%	N/A	10.03%	N/A

December 31, 2021
Electric—transmission and distribution	2.81%	2.94%	2.28%	2.80%	2.87%	2.56%	2.86%	3.21%
Gas—transportation and distribution	2.13%	N/A	1.84%	2.54%	1.47%	N/A	1.47%	N/A
Common—electric and gas	7.31%	N/A	6.34%	7.88%	8.33%	N/A	8.69%	N/A

December 31, 2020
Electric—transmission and distribution	2.79%	2.95%	2.31%	2.69%	2.81%	2.53%	2.85%	3.08%
Gas—transportation and distribution	2.14%	N/A	1.85%	2.56%	1.50%	N/A	1.50%	N/A
Common—electric and gas	7.01%	N/A	6.39%	7.45%	7.36%	N/A	6.72%	N/A

Schedule Of Capitalized Interest And AFUDC

The following table summarizes credits to AFUDC by year:


	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
December 31, 2022
AFUDC debt and equity	$	215	$	54	$	42	$	29	$	90	$	69	$	10	$	11

December 31, 2021
AFUDC debt and equity	$	189	$	47	$	34	$	36	$	72	$	59	$	8	$	5

December 31, 2020
AFUDC debt and equity	$	150	$	42	$	23	$	30	$	55	$	42	$	6	$	7

Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

$ 161

$ 171

$ 6

19,078

17,938

16,663

159

1,178

1,209

4,673

4,547

4,641

3,325

3,033

2,891

1,390

1,291

1,232

15,761

15,256

14,485

(2)

3,315

2,682

2,191

Interest expense to affiliates

(1,422)

(1,264)

(1,282)

(25)

535

261

208

(912)

(1,028)

(1,099)

2,403

1,654

1,092

Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest

349

(7)

2,054

1,616

1,099

Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest

117

213

855

Net income (loss) attributable to noncontrolling interests

2,171

1,829

1,954

123

(9)

Net income (loss) attributable to common shareholders

2,170

1,706

1,963

Net Income (Loss) from Continuing Operations Available to Common Shareholders, Basic

2,054

1,616

1,099

Net Income (Loss) from Discontinued Operations Available to Common Shareholders, Basic

116

864

Other comprehensive income (loss), net of income taxes

Prior service benefit reclassified to periodic benefit cost

(1)

(4)

(40)

Actuarial loss reclassified to periodic cost

223

190

Pension and non-pension postretirement benefit plan valuation adjustment

432

(357)

Unrealized (loss) gain on cash flow hedges

(1)

(3)

Unrealized (loss) gain on foreign currency translation

Other comprehensive income (loss)

650

(206)

Comprehensive income attributable to noncontrolling interests

2,260

2,479

1,748

123

(9)

Comprehensive income (loss) attributable to common shareholders

$ 2,259

$ 2,356

$ 1,757

Average shares of common stock outstanding:

Basic Average Number of Shares Outstanding

986

979

976

Assumed Exercise and/or Distributions of Stock-Based Awards

Diluted Average Number of Shares Outstanding

^[1]

987

980

977

Income (Loss) from Continuing Operations, Per Basic Share

$ 2.08

$ 1.65

$ 1.13

Income (Loss) from Continuing Operations, Per Diluted Share

2.08

1.65

1.13

Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share

0.12

0.09

0.88

Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share

$ 0.12

$ 0.09

$ 0.88

Earnings per average common share from discontinued operations

Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount

Commonwealth Edison Co [Member]

$ 267

$ 42

$ (47)

5,761

6,406

5,904

383

345

1,094

1,048

1,231

318

307

289

1,323

1,205

1,133

374

320

299

4,218

5,151

4,950

(2)

1,541

1,255

954

Interest expense to affiliates

(401)

(376)

(369)

(13)

(360)

(341)

(339)

1,181

914

615

264

172

177

Other comprehensive income (loss), net of income taxes

917

742

438

917

742

438

PECO Energy Co [Member]

3,903

3,198

3,058

194

188

791

757

816

201

177

159

373

348

347

202

184

172

3,102

2,547

2,512

801

651

546

Interest expense to affiliates

(165)

(149)

(136)

(12)

(11)

(146)

(135)

(129)

655

516

417

(30)

Other comprehensive income (loss), net of income taxes

576

504

447

Baltimore Gas and Electric Company [Member]

576

504

447

(47)

3,895

3,341

3,098

233

311

670

618

617

207

193

172

630

591

550

302

283

268

3,376

2,860

2,598

519

481

500

(152)

(138)

(133)

(131)

(108)

(110)

388

373

390

(35)

Other comprehensive income (loss), net of income taxes

380

408

349

Pepco Holdings LLC [Member]

380

408

349

(59)

5,565

5,041

4,663

367

366

966

925

940

191

179

159

938

821

782

475

458

450

4,734

4,240

4,045

831

801

629

(292)

(267)

(268)

(214)

(198)

(211)

617

603

418

(77)

Other comprehensive income (loss), net of income taxes

608

561

495

Comprehensive income (loss) attributable to common shareholders

608

561

495

Potomac Electric Power Company [Member]

(31)

2,531

2,274

2,149

271

278

284

258

248

223

213

205

417

403

377

382

373

367

2,140

1,871

1,799

391

403

359

(150)

(140)

(138)

(95)

(92)

(100)

296

311

259

(9)

(7)

Other comprehensive income (loss), net of income taxes

305

296

266

Delmarva Power & Light Company [Member]

305

296

266

(9)

(7)

1,595

1,380

1,271

183

208

166

162

153

232

210

191

1,359

1,161

1,120

236

219

151

(66)

(61)

(53)

(49)

(51)

183

170

100

(25)

Other comprehensive income (loss), net of income taxes

169

128

125

Atlantic City Electric Company [Member]

169

128

125

(19)

(12)

1,431

1,388

1,245

189

179

192

142

141

134

261

179

180

1,225

1,201

1,123

206

187

124

(66)

(58)

(59)

(55)

(54)

(53)

151

133

(13)

(41)

Other comprehensive income (loss), net of income taxes

148

146

112

Electricity, US Regulated [Member]

148

146

112

Revenue from Contract with Customer, Including Assessed Tax

16,899

16,245

15,236

Electricity, US Regulated [Member] | Commonwealth Edison Co [Member]

5,380

4,703

4,086

Revenue from Contract with Customer, Including Assessed Tax

5,478

6,323

5,914

Electricity, US Regulated [Member] | PECO Energy Co [Member]

1,050

1,888

1,653

Revenue from Contract with Customer, Including Assessed Tax

3,156

2,613

2,519

Electricity, US Regulated [Member] | Baltimore Gas and Electric Company [Member]

1,160

699

645

Revenue from Contract with Customer, Including Assessed Tax

2,890

2,497

2,323

Electricity, US Regulated [Member] | Pepco Holdings LLC [Member]

1,186

699

509

Revenue from Contract with Customer, Including Assessed Tax

5,376

4,769

4,463

Electricity, US Regulated [Member] | Potomac Electric Power Company [Member]

1,984

1,417

1,279

Revenue from Contract with Customer, Including Assessed Tax

2,557

2,216

2,102

Electricity, US Regulated [Member] | Delmarva Power & Light Company [Member]

795

353

324

Revenue from Contract with Customer, Including Assessed Tax

1,360

1,191

1,107

Electricity, US Regulated [Member] | Atlantic City Electric Company [Member]

567

387

359

Revenue from Contract with Customer, Including Assessed Tax

1,448

1,362

1,253

Natural Gas, US Regulated [Member]

622

677

596

Revenue from Contract with Customer, Excluding Assessed Tax

2,018

1,522

1,421

Natural Gas, US Regulated [Member] | PECO Energy Co [Member]

834

504

426

Revenue from Contract with Customer, Including Assessed Tax

738

538

514

Natural Gas, US Regulated [Member] | Baltimore Gas and Electric Company [Member]

342

188

185

Revenue from Contract with Customer, Including Assessed Tax

1,037

801

739

Natural Gas, US Regulated [Member] | Pepco Holdings LLC [Member]

363

243

171

Revenue from Contract with Customer, Including Assessed Tax

238

168

162

Natural Gas, US Regulated [Member] | Delmarva Power & Light Company [Member]

129

Revenue from Contract with Customer, Including Assessed Tax

238

168

162

Debt and Credit Agreements (All Registrants)

$ 129

$ 73

$ 69

[1]	The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect were none for the year ended December 31, 2022 and 2021 and less than 1 million for the years ended December 31, 2020

Shareholders' Equity - Schedule of Preferred Stock (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding	0	0
Preferred Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock [Member] \| Commonwealth Edison Co [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding	0	0
Preferred Stock, Shares Authorized	850,000	850,000
Preferred Stock [Member] \| PECO Energy Co [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding	0	0
Preferred Stock, Shares Authorized	15,000,000	15,000,000
Preferred Stock [Member] \| Baltimore Gas and Electric Company [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding	0	0
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock [Member] \| Potomac Electric Power Company [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding	0	0
Preferred Stock, Shares Authorized	6,000,000	6,000,000
Preferred Stock [Member] \| Atlantic City Electric Company [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding	0	0
Preferred Stock, Shares Authorized	2,799,979	2,799,979
Preferred Stock [Member] \| Delmarva Power & Light Company [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	0
Cumulative Preferred Stock [Member] \| Atlantic City Electric Company [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	799,979	799,979
No-Par Preferred Stock [Member] \| Atlantic City Electric Company [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	2,000,000	2,000,000

Income Taxes - Tax Effects of Temporary Differences and Carryforwards (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Plant basis differences	$ (12,130)	$ (11,606)
Deferred Tax Liabilities, Other Finite-Lived Assets	10	56
Derivatives and other financial instruments	26	63
Deferred pension and postretirement obligation	551	641
Deferred debt refinancing costs	132	146
Deferred Tax Liabilities, Regulatory Assets and Liabilities	(1,107)	(1,130)
Tax loss carryforward, net of valuation allowances	250	242
Tax credit carryforward	468	584
Investment in partnerships	(21)	(21)
Other, net	591	449
Deferred income tax liabilities (net)	(11,230)	(10,576)
Unamortized investment tax credits	(14)	(15)
Total deferred income tax liabilities (net) and unamortized investment tax credits	(11,244)	(10,591)
Commonwealth Edison Co [Member]
Operating Loss Carryforwards [Line Items]
Plant basis differences	(4,823)	(4,648)
Deferred Tax Liabilities, Other Finite-Lived Assets	0	0
Derivatives and other financial instruments	23	61
Deferred pension and postretirement obligation	(300)	(308)
Deferred debt refinancing costs	(5)	(6)
Deferred Tax Liabilities, Regulatory Assets and Liabilities	(131)	8
Tax loss carryforward, net of valuation allowances	0	0
Tax credit carryforward	0	0
Investment in partnerships	0	0
Other, net	223	216
Deferred income tax liabilities (net)	(5,013)	(4,677)
Unamortized investment tax credits	(8)	(8)
Total deferred income tax liabilities (net) and unamortized investment tax credits	(5,021)	(4,685)
PECO Energy Co [Member]
Operating Loss Carryforwards [Line Items]
Plant basis differences	(2,119)	(2,271)
Deferred Tax Liabilities, Other Finite-Lived Assets	0	0
Derivatives and other financial instruments	0	0
Deferred pension and postretirement obligation	(31)	(32)
Deferred debt refinancing costs	0	0
Deferred Tax Liabilities, Regulatory Assets and Liabilities	(169)	(280)
Tax loss carryforward, net of valuation allowances	33	65
Tax credit carryforward	0	0
Investment in partnerships	0	0
Other, net	73	97
Deferred income tax liabilities (net)	(2,213)	(2,421)
Unamortized investment tax credits	0	0
Total deferred income tax liabilities (net) and unamortized investment tax credits	(2,213)	(2,421)
Baltimore Gas and Electric Company [Member]
Operating Loss Carryforwards [Line Items]
Plant basis differences	(1,949)	(1,826)
Deferred Tax Liabilities, Other Finite-Lived Assets	0	0
Derivatives and other financial instruments	0	0
Deferred pension and postretirement obligation	(31)	(37)
Deferred debt refinancing costs	(2)	(2)
Deferred Tax Liabilities, Regulatory Assets and Liabilities	57	92
Tax loss carryforward, net of valuation allowances	72	68
Tax credit carryforward	0	0
Investment in partnerships	0	0
Other, net	23	21
Deferred income tax liabilities (net)	(1,830)	(1,684)
Unamortized investment tax credits	(2)	(2)
Total deferred income tax liabilities (net) and unamortized investment tax credits	(1,832)	(1,686)
Pepco Holdings LLC [Member]
Operating Loss Carryforwards [Line Items]
Plant basis differences	(3,131)	(2,976)
Deferred Tax Liabilities, Other Finite-Lived Assets	10	56
Derivatives and other financial instruments	2	2
Deferred pension and postretirement obligation	(80)	(90)
Deferred debt refinancing costs	111	123
Deferred Tax Liabilities, Regulatory Assets and Liabilities	(50)	(53)
Tax loss carryforward, net of valuation allowances	71	64
Tax credit carryforward	0	0
Investment in partnerships	0	0
Other, net	182	212
Deferred income tax liabilities (net)	(2,885)	(2,662)
Unamortized investment tax credits	(4)	(5)
Total deferred income tax liabilities (net) and unamortized investment tax credits	(2,889)	(2,667)
Potomac Electric Power Company [Member]
Operating Loss Carryforwards [Line Items]
Plant basis differences	(1,394)	(1,321)
Deferred Tax Liabilities, Other Finite-Lived Assets	0	0
Derivatives and other financial instruments	0	0
Deferred pension and postretirement obligation	(76)	(76)
Deferred debt refinancing costs	(4)	(2)
Deferred Tax Liabilities, Regulatory Assets and Liabilities	7	24
Tax loss carryforward, net of valuation allowances	3	2
Tax credit carryforward	0	0
Investment in partnerships	0	0
Other, net	83	99
Deferred income tax liabilities (net)	(1,381)	(1,274)
Unamortized investment tax credits	(1)	(1)
Total deferred income tax liabilities (net) and unamortized investment tax credits	(1,382)	(1,275)
Delmarva Power & Light Company [Member]
Operating Loss Carryforwards [Line Items]
Plant basis differences	(906)	(853)
Deferred Tax Liabilities, Other Finite-Lived Assets	0	0
Derivatives and other financial instruments	0	0
Deferred pension and postretirement obligation	(39)	(40)
Deferred debt refinancing costs	(2)	(1)
Deferred Tax Liabilities, Regulatory Assets and Liabilities	43	55
Tax loss carryforward, net of valuation allowances	20	18
Tax credit carryforward	0	0
Investment in partnerships	0	0
Other, net	16	19
Deferred income tax liabilities (net)	(868)	(802)
Unamortized investment tax credits	(1)	(1)
Total deferred income tax liabilities (net) and unamortized investment tax credits	(869)	(803)
Atlantic City Electric Company [Member]
Operating Loss Carryforwards [Line Items]
Plant basis differences	(813)	(777)
Deferred Tax Liabilities, Other Finite-Lived Assets	0	0
Derivatives and other financial instruments	0	0
Deferred pension and postretirement obligation	(3)	(6)
Deferred debt refinancing costs	(1)	(1)
Deferred Tax Liabilities, Regulatory Assets and Liabilities	11	31
Tax loss carryforward, net of valuation allowances	46	42
Tax credit carryforward	0	0
Investment in partnerships	0	0
Other, net	28	34
Deferred income tax liabilities (net)	(732)	(677)
Unamortized investment tax credits	(2)	(2)
Total deferred income tax liabilities (net) and unamortized investment tax credits	$ (734)	$ (679)

Supplemental Financial Information - Summary of Taxes other than income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental Statement of Operations Information [Line Items]
Utility	$ 878	$ 774	$ 759
Property	377	364	336
Payroll	117	124	121
Commonwealth Edison Co [Member]
Supplemental Statement of Operations Information [Line Items]
Utility	306	246	238
Property	31	39	30
Payroll	28	27	27
PECO Energy Co [Member]
Supplemental Statement of Operations Information [Line Items]
Utility	166	139	135
Property	17	18	16
Payroll	16	16	16
Baltimore Gas and Electric Company [Member]
Supplemental Statement of Operations Information [Line Items]
Utility	94	88	87
Property	191	176	164
Payroll	17	18	17
Pepco Holdings LLC [Member]
Supplemental Statement of Operations Information [Line Items]
Utility	312	301	299
Property	138	131	126
Payroll	25	27	25
Potomac Electric Power Company [Member]
Supplemental Statement of Operations Information [Line Items]
Utility	283	278	275
Property	94	88	84
Payroll	6	7	7
Delmarva Power & Light Company [Member]
Supplemental Statement of Operations Information [Line Items]
Utility	25	22	21
Property	42	40	39
Payroll	4	5	5
Atlantic City Electric Company [Member]
Supplemental Statement of Operations Information [Line Items]
Utility	4	3	3
Property	2	3	3
Payroll	$ 3	$ 3	$ 3

Debt and Credit Agreements (All Registrants)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Short-Term Borrowings

Exelon Corporate, ComEd, and BGE meet their short-term liquidity requirements primarily through the issuance of commercial paper. PECO meets its short-term liquidity requirements primarily through the issuance of commercial paper and borrowings from the Exelon intercompany money pool. Pepco, DPL, and ACE meet their short-term liquidity requirements primarily through the issuance of commercial paper and borrowings from the PHI intercompany money pool. PHI Corporate meets its short-term liquidity requirements primarily through the issuance of short-term notes and borrowings from the Exelon intercompany money pool. The Registrants may use their respective credit facilities for general corporate purposes, including meeting short-term funding requirements and the issuance of letters of credit.

Commercial Paper

The following table reflects the Registrants' commercial paper programs supported by the revolving credit agreements and bilateral credit agreements as of December 31, 2022 and 2021:


	Credit Facility Size as of December 31,					Outstanding Commercial Paper as of December 31,				Average Interest Rate on Commercial Paper Borrowings as of December 31,
Commercial Paper Issuer	2022(a)			2021(a)		2022		2021		2022		2021
Exelon(b)	$	4,000		$	3,700	$	1,938	$	599	4.77	%	0.35	%
ComEd	1,000			1,000		427		—		4.71	%	—	%
PECO	600			600		239		—		4.71	%	—	%
BGE	600			600		409		130		4.81	%	0.37	%
PHI(c)	900			900		414		469		4.78	%	0.35	%
Pepco	300		(d)	300		299		175		4.79	%	0.33	%
DPL	300		(d)	300		115		149		4.76	%	0.36	%
ACE	300		(d)	300		—		145		—	%	0.35	%

__________

(a)Excludes credit facility agreements arranged at minority and community banks. See below for additional information.

(c)Represents the consolidated amounts of Pepco, DPL, and ACE.

In order to maintain their respective commercial paper programs in the amounts indicated above, each Registrant must have credit facilities in place, at least equal to the amount of its commercial paper program. A registrant does not issue commercial paper in an aggregate amount exceeding the then available capacity under its credit facility.

As of December 31, 2022, the Registrants had the following aggregate bank commitments, credit facility borrowings, and available capacity under their respective credit facilities:


								Available Capacity as of December 31, 2022
Borrower(a)	Facility Type	Aggregate Bank Commitment(b)		Facility Draws		Outstanding Letters of Credit		Actual		To Support Additional Commercial Paper(c)
Exelon(c)	Syndicated Revolver	$	4,000	$	—	$	8	$	3,992	$	2,054
ComEd	Syndicated Revolver	1,000		—		5		995		568
PECO	Syndicated Revolver	600		—		—		600		361
BGE	Syndicated Revolver	600		—		—		600		191
PHI(d)	Syndicated Revolver	900		—		—		900		486
Pepco	Syndicated Revolver	300		—		—		300		1
DPL	Syndicated Revolver	300		—		—		300		185
ACE	Syndicated Revolver	300		—		—		300		300

__________

(a)On February 1, 2022, Exelon Corporate and the Utility Registrants' respective syndicated revolving credit facilities were replaced with a new 5-year revolving credit facility.

(b)Excludes credit facility agreements arranged at minority and community banks. See below for additional information.

(d)Represents the consolidated amounts of Pepco, DPL, and ACE.


	Aggregate Bank Commitments				Outstanding Letters of Credit
Borrower	2022(a)		2021		2022		2021
Exelon(b)	$	140	$	98	$	10	$	8
ComEd	40		33		7		5
PECO	40		33		1		1
BGE	15		8		2		2
PHI(c)	45		24		—		—
Pepco	15		8		—		—
DPL	15		8		—		—
ACE	15		8		—		—

__________

(a)These facilities were entered into on October 7, 2022 and expire on October 6, 2023.

(b)Represents the consolidated amounts of ComEd, PECO, BGE, Pepco, DPL, and ACE.

(c)Represents the consolidated amounts of Pepco, DPL, and ACE.

Revolving Credit Agreements


Borrower	Aggregate Bank Commitment		Interest Rate
Exelon Corporate	$	900	SOFR plus 1.275	%
ComEd	1,000		SOFR plus 1.000	%
PECO	600		SOFR plus 0.900	%
BGE	600		SOFR plus 0.900	%
Pepco	300		SOFR plus 1.075	%
DPL	300		SOFR plus 1.000	%
ACE	300		SOFR plus 1.075	%


	Exelon(a)	ComEd	PECO	BGE	Pepco	DPL	ACE
Prime based borrowings	0 - 27.5	—	—	—	7.5	—	7.5
SOFR-based borrowings	90.0 - 127.5	100.0	90.0	90.0	107.5	100.0	107.5

__________

(a)Includes interest rate adders at Exelon Corporate of 27.5 basis points and 127.5 basis points for prime and SOFR-based borrowings, respectively.

If any registrant loses its investment grade rating, the maximum adders for prime rate borrowings and SOFR-based rate borrowings would be 65 basis points and 165 basis points, respectively. The credit agreements also require the borrower to pay a facility fee based upon the aggregate commitments. The fee varies depending upon the respective credit ratings of the borrower.

Short-Term Loan Agreements

On March 23, 2017, Exelon Corporate entered into a term loan agreement for $500 million. The loan agreement was renewed on March 14, 2022 and will expire on March 16, 2023. Pursuant to the loan agreement, loans made thereunder bear interest at a variable rate equal to SOFR plus 0.65% and all indebtedness thereunder is unsecured. The loan agreement is reflected in Exelon's Consolidated Balance Sheets within Short-term borrowings.

In connection with the separation, on January 24, 2022, Exelon Corporate entered into a 364-day term loan agreement for $1.15 billion. The loan agreement had an expiration date of January 23, 2023. Pursuant to the loan agreement, loans made thereunder bore interest at a variable rate equal to SOFR plus 0.75% until July 23, 2022 and a rate of SOFR plus 0.975% thereafter. All indebtedness pursuant to the loan agreement was unsecured. On August 11, 2022, Exelon Corporate made a partial repayment of $575 million on the term loan. On October 11, 2022, the remaining $575 million outstanding balance was repaid in conjunction with the $500 million 18-month term loan that was entered into on October 7, 2022.

On October 4, 2022, ComEd entered into a 364-day term loan agreement for $150 million with a variable rate equal to SOFR plus 0.75% and an expiration date of October 3, 2023. The proceeds from this loan were used to repay outstanding commercial paper obligations. The loan agreement is reflected in Exelon's and ComEd's Consolidated Balance Sheets within Short-term borrowings. The balance of the loan was repaid on January 13, 2023 in conjunction with the $400 million and $575 million First Mortgage Bond agreements that were entered into on January 3, 2023.

Variable Rate Demand Bonds

DPL has outstanding obligations in respect of Variable Rate Demand Bonds (VRDB). VRDBs are subject to repayment on the demand of the holders and, for this reason, are accounted for as short-term debt in

accordance with GAAP. However, these bonds may be converted to a fixed-rate, fixed-term option to establish a maturity which corresponds to the date of final maturity of the bonds. On this basis, PHI views VRDBs as a source of long-term financing. As of both December 31, 2022 and December 31, 2021, $79 million in variable rate demand bonds issued by DPL were outstanding and are included in the Long-term debt due within one year in Exelon's, PHI's, and DPL's Consolidated Balance Sheets.

Long-Term Debt

The following tables present the outstanding long-term debt at the Registrants as of December 31, 2022 and 2021:

Exelon


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt

First mortgage bonds(a)(b)	1.05	%	-	7.90	%	2023 - 2052	$	22,651	$	20,751
Senior unsecured notes	2.75	%	-	7.60	%	2025 - 2052	8,324		6,324
Unsecured notes	2.25	%	-	6.35	%	2023 - 2052	4,250		4,000

Notes payable and other	1.64	%	-	7.49	%	2025 - 2053	86		86
Junior subordinated notes				3.50	%	2022	—		1,150

Long-term software licensing agreement	2.30	%	-	3.95	%	2024 - 2025	25		9
Unsecured tax-exempt bonds	4.00	%	-	4.05	%	2024	33		143
Medium-terms notes (unsecured)				7.72	%	2027	10		10
Loan agreement	2.00	%		5.15	%	2023 - 2024	1,400		50
Total long-term debt							36,779		32,523
Unamortized debt discount and premium, net							(74)		(70)
Unamortized debt issuance costs							(257)		(220)
Fair value adjustment							626		669

Long-term debt due within one year(c)							(1,802)		(2,153)
Long-term debt							$	35,272	$	30,749
Long-term debt to financing trusts(d)
Subordinated debentures to ComEd Financing III				6.35	%	2033	$	206	$	206
Subordinated debentures to PECO Trust III	7.38	%	-	9.50	%	2028	81		81
Subordinated debentures to PECO Trust IV				5.75	%	2033	103		103

Total long-term debt to financing trusts							$	390	$	390

__________

(d)Amounts owed to these financing trusts are recorded as Long-term debt to financing trusts within Exelon’s Consolidated Balance Sheets.

ComEd


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
First mortgage bonds(a)(b)	2.20	%	-	6.45	%	2024 - 2052	$	10,629	$	9,879
Other				7.49	%	2053	8		8
Total long-term debt							10,637		9,887
Unamortized debt discount and premium, net							(27)		(27)
Unamortized debt issuance costs							(92)		(87)

Long-term debt							$	10,518	$	9,773
Long-term debt to financing trust(c)
Subordinated debentures to ComEd Financing III				6.35	%	2033	$	206	$	206
Total long-term debt to financing trusts							206		206
Unamortized debt issuance costs							(1)		(1)
Long-term debt to financing trusts							$	205	$	205

__________

(a)Substantially all of ComEd’s assets, other than expressly excepted property, are subject to the lien of its mortgage indenture.

(c)Amount owed to this financing trust is recorded as Long-term debt to financing trust within ComEd’s Consolidated Balance Sheets.

PECO


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
First mortgage bonds(a)	2.80	%	-	5.95	%	2025 - 2052	$	4,625	$	4,200
Loan agreement				2.00	%	2023	50		50
Total long-term debt							4,675		4,250
Unamortized debt discount and premium, net							(24)		(20)
Unamortized debt issuance costs							(39)		(33)
Long-term debt due within one year							(50)		(350)
Long-term debt							$	4,562	$	3,847
Long-term debt to financing trusts(b)
Subordinated debentures to PECO Trust III	7.38	%	-	9.50	%	2028	$	81	$	81
Subordinated debentures to PECO Trust IV				5.75	%	2033	103		103


Long-term debt to financing trusts							$	184	$	184

__________

(a)Substantially all of PECO’s assets are subject to the lien of its mortgage indenture.

(b)Amounts owed to this financing trust are recorded as Long-term debt to financing trusts within PECO’s Consolidated Balance Sheets.

BGE


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt

Unsecured notes	2.25	%	-	6.35	%	2023 - 2052	$	4,250	$	4,000
Total long-term debt							4,250		4,000
Unamortized debt discount and premium, net							(13)		(12)
Unamortized debt issuance costs							(30)		(27)
Long-term debt due within one year							(300)		(250)
Long-term debt							$	3,907	$	3,711

PHI


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
First mortgage bonds(a)	1.05	%	-	7.90	%	2023 - 2052	$	7,397	$	6,672
Senior unsecured notes				7.45	%	2032	185		185
Unsecured tax-exempt bonds	4.00	%	-	4.05	%	2024	33		143
Medium-terms notes (unsecured)				7.72	%	2027	10		10
Finance leases				5.59	%	2025 - 2030	76		74
Other(b)	7.28	%	-	7.49	%	2022	—		—
Total long-term debt							7,701		7,084
Unamortized debt discount and premium, net							4		4
Unamortized debt issuance costs							(47)		(36)
Fair value adjustment							462		495
Long-term debt due within one year							(591)		(399)
Long-term debt							$	7,529	$	7,148

_________

(a)Substantially all of Pepco's, DPL's, and ACE's assets are subject to the liens of their respective mortgage indentures.

(b)The amount in the Other category was zero and less than $1 million as of December 31, 2022 and December 31, 2021, respectively.

Pepco


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
First mortgage bonds(a)	2.32	%	-	7.90	%	2024 - 2052	$	3,775	$	3,350
Unsecured tax-exempt bonds				1.70	%	2022	—		110
Finance leases				5.59	%	2025 - 2029	25		26
Other(b)	7.28	%	-	7.49	%	2022	—		—
Total long-term debt							3,800		3,486
Unamortized debt discount and premium, net							2		2
Unamortized debt issuance costs							(51)		(43)
Long-term debt due within one year							(4)		(313)
Long-term debt							$	3,747	$	3,132

________

(a)Substantially all of Pepco's assets are subject to the lien of its mortgage indenture.

(b)The amount in the Other category was zero and less than $1 million as of December 31, 2022 and December 31, 2021, respectively.

DPL


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
First mortgage bonds(a)	1.05	%	-	4.27	%	2023 - 2052	$	1,874	$	1,749
Unsecured tax-exempt bonds	4.00	%	-	4.05	%	2024	33		33
Medium-terms notes (unsecured)				7.72	%	2027	10		10
Finance leases				5.39	%	2025 - 2030	32		29
Total long-term debt							1,949		1,821
Unamortized debt discount and premium, net(b)							—		—
Unamortized debt issuance costs							(11)		(11)
Long-term debt due within one year							(584)		(83)
Long-term debt							$	1,354	$	1,727

__________

(a)Substantially all of DPL's assets are subject to the lien of its mortgage indenture.

(b)The amount in the Unamortized debt discount and premium, net category was less than $1 million as of December 31, 2022 and 2021.

ACE


						Maturity Date	December 31,
	Rates						2022		2021
Long-term debt
First mortgage bonds(a)	2.25	%	-	5.80	%	2024 - 2052	$	1,748	$	1,573
Finance leases				5.59	%	2025 - 2030	19		19
Total long-term debt							1,767		1,592
Unamortized debt discount and premium, net							(1)		(1)
Unamortized debt issuance costs							(9)		(9)
Long-term debt due within one year							(3)		(3)
Long-term debt							$	1,754	$	1,579

__________

(a)Substantially all of ACE's assets are subject to the lien of its mortgage indenture.

Long-term debt maturities at the Registrants in the periods 2023 through 2027 and thereafter are as follows:


Year	Exelon			ComEd			PECO			BGE		PHI		Pepco		DPL		ACE
2023	$	1,802		$	—		$	50		$	300	$	591	$	4	$	584	$	3
2024	1,317			250			—			—		564		405		6		153
2025	1,414			—			350			—		242		5		84		153
2026	1,613			500			—			350		13		4		6		3
2027	1,021			350			—			—		21		3		15		3
Thereafter	30,002		(a)	9,743		(b)	4,459		(c)	3,600		6,270		3,379		1,254		1,452
Total	$	37,169		$	10,843		$	4,859		$	4,250	$	7,701	$	3,800	$	1,949	$	1,767

__________

(a)Includes $390 million due to ComEd and PECO financing trusts.

(b)Includes $206 million due to ComEd financing trust.

(c)Includes $184 million due to PECO financing trusts.

Long-Term Debt to Affiliates

In connection with the debt obligations assumed by Exelon as part of the Constellation merger, Exelon and subsidiaries of Generation (former Constellation subsidiaries) entered into intercompany loan agreements that mirror the terms and amounts of the third-party debt obligations of Exelon, resulting in intercompany notes

receivable at Exelon Corporate from Generation. As of December 31, 2021, Exelon Corporate had $319 million recorded to intercompany notes receivable from Generation. In connection with the separation, on January 31, 2022, Exelon Corporate received cash from Generation of $258 million to settle the intercompany loan.

Debt Covenants

As of December 31, 2022, the Registrants are in compliance with debt covenants.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Finite-Lived Intangible Assets [Line Items]

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Schedule Of Goodwill


	Gross Amount		Accumulated Impairment Loss		Carrying Amount
Exelon	$	8,613	$	1,983	$	6,630
ComEd(a)	4,608		1,983		2,625
PHI(b)	4,005		—		4,005

__________

(a)Reflects goodwill recorded in 2000 from the PECO/Unicom merger (predecessor parent company of ComEd).

(b)Reflects goodwill recorded in 2016 from the PHI merger.

Schedule of Finite-Lived Intangible Assets


	December 31, 2022						December 31, 2021
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Exelon
Unamortized Energy Contracts	$	(1,515)	$	1,470	$	(45)	$	(1,515)	$	1,280	$	(235)
Software License	81		(61)		20		81		(53)		28
Exelon Total	$	(1,434)	$	1,409	$	(25)	$	(1,434)	$	1,227	$	(207)
PHI
Unamortized Energy Contracts	$	(1,515)	$	1,470	$	(45)	$	(1,515)	$	1,280	$	(235)

Schedule Of Finite-Lived Intangible Assets Amortization Expense

The following table summarizes the amortization expense related to intangible assets and liabilities for each of the years ended December 31, 2022, 2021, and 2020:


For the Years Ended December 31,	Exelon(a)		PHI(a)
2022(b)	$	(182)	$	(190)
2021	(83)		(92)
2020	(98)		(115)

__________

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

The following table summarizes the estimated future amortization expense related to intangible assets and liabilities as of December 31, 2022:


For the Years Ending December 31,	Exelon		PHI
2023	$	(2)	$	(10)
2024	—		(8)
2025	(2)		(5)
2026	(5)		(5)
2027	(4)		(4)

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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Supplemental Financial Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Depreciation, amortization and accretion
Depreciation	$ 2,690	$ 5,384	$ 4,364
Amortization of Regulatory Asset	718	594	588
Amortization of Intangible Assets	(182)	(83)	(98)
Amortization of Nuclear Fuel Lease	66	992	983
Accretion expense	44	514	500
Total depreciation, amortization and accretion	3,533	7,573	6,527
Cash paid (refunded) during the year:
Interest (net of amount capitalized)	1,434	1,505	1,521
Income taxes (net of refunds)	73	281	10
Other non-cash operating activities:
Pension and non-pension postretirement benefit costs	164	411	411
Provision for uncollectible accounts	173	160	150
Other decommissioning related-activity	36	(946)	(659)
Energy-related options	60	125	104
True-up Adjustments to Decoupling Mechanisms and Formula Rate	(161)	(171)	(6)
Restructuring Costs		(57)	105
Long-term incentive plan	42	137	56
Operating Leases, Income Statement, Depreciation Expense on Property Subject to or Held-for-lease	56	183	222
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(150)	(136)	(104)
Inventory Write-down			131
Asset impairments	48	552	591
Change in environmental liabilities			0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	407	672	432	$ 587
Restricted cash	566	321	349	358
Restricted cash included in other long-term assets	117	44	53	177
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations		582	332
Total cash, cash equivalents and restricted cash	1,090	1,619	1,166	1,122
Other Non-Cash [Member]
Other non-cash operating activities:
True-up Adjustments to Decoupling Mechanisms and Formula Rate	(168)	(171)	(6)
Return on borrowed funds
Other non-cash operating activities:
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(150)	(136)	(104)
Commonwealth Edison Co [Member]
Depreciation, amortization and accretion
Depreciation	1,031	970	922
Amortization of Regulatory Asset	292	235	211
Amortization of Nuclear Fuel Lease	0	0	0
Accretion expense	0	0	0
Total depreciation, amortization and accretion	1,323	1,205	1,133
Cash paid (refunded) during the year:
Interest (net of amount capitalized)	396	372	371
Income taxes (net of refunds)	23	(72)	(61)
Other non-cash operating activities:
Pension and non-pension postretirement benefit costs	60	129	114
Provision for uncollectible accounts	46	47	32
Other decommissioning related-activity	0	0	0
Energy-related options	0	0	0
True-up Adjustments to Decoupling Mechanisms and Formula Rate	(267)	(42)	47
Restructuring Costs		2	1
Long-term incentive plan	0	0	0
Operating Leases, Income Statement, Depreciation Expense on Property Subject to or Held-for-lease	2	1	2
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(35)	(34)	(29)
Inventory Write-down			2
Change in environmental liabilities			15
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	67	131	83	90
Restricted cash	327	210	279	150
Restricted cash included in other long-term assets	117	43	43	163
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations		0	0
Total cash, cash equivalents and restricted cash	511	384	405	403
Commonwealth Edison Co [Member] \| Other Non-Cash [Member]
Other non-cash operating activities:
True-up Adjustments to Decoupling Mechanisms and Formula Rate	(267)	(42)	47
Commonwealth Edison Co [Member] \| Return on borrowed funds
Other non-cash operating activities:
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(35)	(34)	(29)
PECO Energy Co [Member]
Depreciation, amortization and accretion
Depreciation	359	336	319
Amortization of Regulatory Asset	14	12	28
Amortization of Nuclear Fuel Lease	0	0	0
Accretion expense	0	0	0
Total depreciation, amortization and accretion	373	348	347
Cash paid (refunded) during the year:
Interest (net of amount capitalized)	166	152	144
Income taxes (net of refunds)	31	(4)	(37)
Other non-cash operating activities:
Pension and non-pension postretirement benefit costs	(9)	8	5
Provision for uncollectible accounts	45	39	42
Other decommissioning related-activity	0	0	0
Energy-related options	0	0	0
True-up Adjustments to Decoupling Mechanisms and Formula Rate	(2)	(26)	(16)
Restructuring Costs		0	1
Long-term incentive plan	0	0	0
Operating Leases, Income Statement, Depreciation Expense on Property Subject to or Held-for-lease	0	0	1
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(31)	(26)	(17)
Inventory Write-down			1
Change in environmental liabilities			0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	59	36	19	21
Restricted cash	9	8	7	6
Restricted cash included in other long-term assets	0	0	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations		0	0
Total cash, cash equivalents and restricted cash	68	44	26	27
PECO Energy Co [Member] \| Other Non-Cash [Member]
Other non-cash operating activities:
True-up Adjustments to Decoupling Mechanisms and Formula Rate	(2)	(26)	(16)
PECO Energy Co [Member] \| Return on borrowed funds
Other non-cash operating activities:
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(31)	(26)	(17)
Baltimore Gas and Electric Company [Member]
Depreciation, amortization and accretion
Depreciation	476	439	397
Amortization of Regulatory Asset	154	152	153
Amortization of Nuclear Fuel Lease	0	0	0
Accretion expense	0	0	0
Total depreciation, amortization and accretion	630	591	550
Cash paid (refunded) during the year:
Interest (net of amount capitalized)	147	134	125
Income taxes (net of refunds)	16	(38)	(57)
Other non-cash operating activities:
Pension and non-pension postretirement benefit costs	44	61	62
Provision for uncollectible accounts	25	17	15
Other decommissioning related-activity	0	0	0
Energy-related options	0	0	0
True-up Adjustments to Decoupling Mechanisms and Formula Rate	47	(12)	(16)
Restructuring Costs		0	0
Long-term incentive plan	0	0	0
Operating Leases, Income Statement, Depreciation Expense on Property Subject to or Held-for-lease	14	29	31
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(21)	(27)	(22)
Inventory Write-down			0
Asset impairments	48	0	0
Change in environmental liabilities			0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	43	51	144	24
Restricted cash	24	4	1	1
Restricted cash included in other long-term assets	0	0	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations		0	0
Total cash, cash equivalents and restricted cash	67	55	145	25
Baltimore Gas and Electric Company [Member] \| Other Non-Cash [Member]
Other non-cash operating activities:
True-up Adjustments to Decoupling Mechanisms and Formula Rate	47	(12)	(16)
Baltimore Gas and Electric Company [Member] \| Return on borrowed funds
Other non-cash operating activities:
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(21)	(27)	(22)
Pepco Holdings LLC [Member]
Depreciation, amortization and accretion
Depreciation	680	627	586
Amortization of Regulatory Asset	258	194	196
Amortization of Intangible Assets	(190)	(92)	(115)
Amortization of Nuclear Fuel Lease	0	0	0
Accretion expense	0	0	0
Total depreciation, amortization and accretion	938	821	782
Cash paid (refunded) during the year:
Interest (net of amount capitalized)	274	255	257
Income taxes (net of refunds)	19	0	46
Other non-cash operating activities:
Pension and non-pension postretirement benefit costs	53	49	70
Provision for uncollectible accounts	58	24	43
Other decommissioning related-activity	0	0	0
Energy-related options	0	0	0
True-up Adjustments to Decoupling Mechanisms and Formula Rate	59	(91)	(21)
Restructuring Costs		1	0
Long-term incentive plan	0	0	0
Operating Leases, Income Statement, Depreciation Expense on Property Subject to or Held-for-lease	27	28	28
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(63)	(49)	(36)
Inventory Write-down			0
Change in environmental liabilities			13
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	198	136	111	131
Restricted cash	175	77	39	36
Restricted cash included in other long-term assets	0	0	10	14
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations		0	0
Total cash, cash equivalents and restricted cash	373	213	160	181
Pepco Holdings LLC [Member] \| Other Non-Cash [Member]
Other non-cash operating activities:
True-up Adjustments to Decoupling Mechanisms and Formula Rate	54	(91)	(21)
Pepco Holdings LLC [Member] \| Return on borrowed funds
Other non-cash operating activities:
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(63)	(49)	(36)
Potomac Electric Power Company [Member]
Depreciation, amortization and accretion
Depreciation	288	274	257
Amortization of Regulatory Asset	129	129	120
Amortization of Nuclear Fuel Lease	0	0	0
Accretion expense	0	0	0
Total depreciation, amortization and accretion	417	403	377
Cash paid (refunded) during the year:
Interest (net of amount capitalized)	141	132	129
Income taxes (net of refunds)	28	12	40
Other non-cash operating activities:
Pension and non-pension postretirement benefit costs	9	6	15
Provision for uncollectible accounts	29	9	24
Other decommissioning related-activity	0	0	0
Energy-related options	0	0	0
True-up Adjustments to Decoupling Mechanisms and Formula Rate	31	(53)	(40)
Restructuring Costs		0	0
Long-term incentive plan	0	0	0
Operating Leases, Income Statement, Depreciation Expense on Property Subject to or Held-for-lease	7	6	7
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(48)	(40)	(28)
Inventory Write-down			0
Change in environmental liabilities			0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	45	34	30	30
Restricted cash	54	34	35	33
Restricted cash included in other long-term assets	0	0	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations		0	0
Total cash, cash equivalents and restricted cash	99	68	65	63
Potomac Electric Power Company [Member] \| Other Non-Cash [Member]
Other non-cash operating activities:
True-up Adjustments to Decoupling Mechanisms and Formula Rate	31	(53)	(40)
Potomac Electric Power Company [Member] \| Return on borrowed funds
Other non-cash operating activities:
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(48)	(40)	(28)
Delmarva Power & Light Company [Member]
Depreciation, amortization and accretion
Depreciation	191	169	155
Amortization of Regulatory Asset	41	41	36
Amortization of Nuclear Fuel Lease	0	0	0
Accretion expense	0	0	0
Total depreciation, amortization and accretion	232	210	191
Cash paid (refunded) during the year:
Interest (net of amount capitalized)	63	59	61
Income taxes (net of refunds)	(2)	(9)	12
Other non-cash operating activities:
Pension and non-pension postretirement benefit costs	3	2	7
Provision for uncollectible accounts	12	5	16
Other decommissioning related-activity	0	0	0
Energy-related options	0	0	0
True-up Adjustments to Decoupling Mechanisms and Formula Rate	9	(14)	7
Restructuring Costs		0	0
Long-term incentive plan	0	0	0
Operating Leases, Income Statement, Depreciation Expense on Property Subject to or Held-for-lease	8	8	8
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(7)	(6)	(4)
Inventory Write-down			0
Change in environmental liabilities			7
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	31	28	15	13
Restricted cash	121	43	0	0
Restricted cash included in other long-term assets	0	0	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations		0	0
Total cash, cash equivalents and restricted cash	152	71	15	13
Delmarva Power & Light Company [Member] \| Other Non-Cash [Member]
Other non-cash operating activities:
True-up Adjustments to Decoupling Mechanisms and Formula Rate	7	(14)	7
Delmarva Power & Light Company [Member] \| Return on borrowed funds
Other non-cash operating activities:
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(7)	(6)	(4)
Atlantic City Electric Company [Member]
Depreciation, amortization and accretion
Depreciation	173	155	140
Amortization of Regulatory Asset	88	24	40
Amortization of Nuclear Fuel Lease	0	0	0
Accretion expense	0	0	0
Total depreciation, amortization and accretion	261	179	180
Cash paid (refunded) during the year:
Interest (net of amount capitalized)	60	56	57
Income taxes (net of refunds)	(6)	2	(3)
Other non-cash operating activities:
Pension and non-pension postretirement benefit costs	12	11	14
Provision for uncollectible accounts	16	10	2
Other decommissioning related-activity	0	0	0
Energy-related options	0	0	0
True-up Adjustments to Decoupling Mechanisms and Formula Rate	19	(24)	12
Restructuring Costs		0	0
Long-term incentive plan	0	0	0
Operating Leases, Income Statement, Depreciation Expense on Property Subject to or Held-for-lease	3	4	3
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(8)	(3)	(4)
Inventory Write-down			0
Change in environmental liabilities			6
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	72	29	17	12
Restricted cash	0	0	3	2
Restricted cash included in other long-term assets	0	0	10	14
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations		0	0
Total cash, cash equivalents and restricted cash	72	29	30	$ 28
Atlantic City Electric Company [Member] \| Other Non-Cash [Member]
Other non-cash operating activities:
True-up Adjustments to Decoupling Mechanisms and Formula Rate	16	(24)	12
Atlantic City Electric Company [Member] \| Return on borrowed funds
Other non-cash operating activities:
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity	(8)	(3)	(4)
Other Intangible Assets [Member]
Depreciation, amortization and accretion
Amortization of Intangible Assets	12	58	62
Other Intangible Assets [Member] \| Commonwealth Edison Co [Member]
Depreciation, amortization and accretion
Amortization of Intangible Assets	0	0	0
Other Intangible Assets [Member] \| PECO Energy Co [Member]
Depreciation, amortization and accretion
Amortization of Intangible Assets	0	0	0
Other Intangible Assets [Member] \| Baltimore Gas and Electric Company [Member]
Depreciation, amortization and accretion
Amortization of Intangible Assets	0	0	0
Other Intangible Assets [Member] \| Pepco Holdings LLC [Member]
Depreciation, amortization and accretion
Amortization of Intangible Assets	0	0	0
Other Intangible Assets [Member] \| Potomac Electric Power Company [Member]
Depreciation, amortization and accretion
Amortization of Intangible Assets	0	0	0
Other Intangible Assets [Member] \| Delmarva Power & Light Company [Member]
Depreciation, amortization and accretion
Amortization of Intangible Assets	0	0	0
Other Intangible Assets [Member] \| Atlantic City Electric Company [Member]
Depreciation, amortization and accretion
Amortization of Intangible Assets	0	0	0
Unamortized Energy Contracts [Member]
Depreciation, amortization and accretion
Amortization of Power Contracts Emission Credits	3	31	30
Unamortized Energy Contracts [Member] \| Commonwealth Edison Co [Member]
Depreciation, amortization and accretion
Amortization of Power Contracts Emission Credits	0	0	0
Unamortized Energy Contracts [Member] \| PECO Energy Co [Member]
Depreciation, amortization and accretion
Amortization of Power Contracts Emission Credits	0	0	0
Unamortized Energy Contracts [Member] \| Baltimore Gas and Electric Company [Member]
Depreciation, amortization and accretion
Amortization of Power Contracts Emission Credits	0	0	0
Unamortized Energy Contracts [Member] \| Pepco Holdings LLC [Member]
Depreciation, amortization and accretion
Amortization of Power Contracts Emission Credits	0	0	0
Unamortized Energy Contracts [Member] \| Potomac Electric Power Company [Member]
Depreciation, amortization and accretion
Amortization of Power Contracts Emission Credits	0	0	0
Unamortized Energy Contracts [Member] \| Delmarva Power & Light Company [Member]
Depreciation, amortization and accretion
Amortization of Power Contracts Emission Credits	0	0	0
Unamortized Energy Contracts [Member] \| Atlantic City Electric Company [Member]
Depreciation, amortization and accretion
Amortization of Power Contracts Emission Credits	$ 0	$ 0	$ 0

Schedule I - Condensed Financial Information of Parent (Exelon Corporate) - Debt and Credit Agreements - Schedule of Debt Maturities (Details) $ in Millions	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
2023	$ 1,802
2024	1,317
2025	1,414
2026	1,613
2027	1,021
Thereafter	30,002
Total	37,169
Corporate, Non-Segment [Member]
Debt Instrument [Line Items]
2023	850
2024	500
2025	807
2026	750
2027	650
Thereafter	5,932
Total	$ 9,489

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

Regulatory Matters (All Registrants)

Regulatory Matters (All Registrants)

12 Months Ended

Dec. 31, 2022

Regulated Operations [Abstract]

The following matters below discuss the status of material regulatory and legislative proceedings of the Registrants.

Distribution Base Rate Case Proceedings

The following tables show the completed and pending distribution base rate case proceedings in 2022.

Completed Distribution Base Rate Case Proceedings

Registrant/Jurisdiction

Filing Date

Service

Requested Revenue Requirement Increase

Approved Revenue Requirement Increase

Approved ROE

Approval Date

Rate Effective Date

ComEd - Illinois(a)

April 16, 2021

Electric

7.36%

December 1, 2021

January 1, 2022

April 15, 2022

Electric

199

7.85%

November 17, 2022

January 1, 2023

PECO - Pennsylvania

March 30, 2021

Electric

246

132

N/A(b)

November 18, 2021

January 1, 2022

March 31, 2022

Natural Gas

October 27, 2022

January 1, 2023

BGE - Maryland(c)

May 15, 2020 (amended September 11, 2020)

Electric

203

140

9.50%

December 16, 2020

January 1, 2021

Natural Gas

108

9.65%

Pepco - District of Columbia(d)

May 30, 2019 (amended June 1, 2020)

Electric

136

109

9.275%

June 8, 2021

July 1, 2021

Pepco - Maryland(e)

October 26, 2020 (amended March 31, 2021)

Electric

104

9.55%

June 28, 2021

DPL - Maryland

September 1, 2021 (amended December 23, 2021)(f)

Electric

9.60%

March 2, 2022

May 19, 2022(g)

Electric

9.60%

December 14, 2022

January 1, 2023

DPL - Delaware

January 14, 2022 (amended August 15, 2022)

Natural Gas

9.60%

October 12, 2022

August 14, 2022

ACE - New Jersey(h)

December 9, 2020 (amended February 26, 2021)

Electric

9.60%

July 14, 2021

January 1, 2022

__________

(b)The PECO electric and natural gas base rate case proceedings were resolved through settlement agreements, which did not specify an approved ROE.

(f)The approved settlement reflects a 9.60% ROE, which is solely for the purposes of calculating AFUDC and regulatory asset carrying costs.

Pending Distribution Base Rate Case Proceedings

Registrant/Jurisdiction

Filing Date

Service

Requested Revenue Requirement Increase

Requested ROE

Expected Approval Timing

ComEd - Illinois(a)

January 17, 2023

Electric

1,472

10.50% to 10.65%

Fourth quarter of 2023

DPL - Delaware(b)

December 15, 2022

Electric

10.50%

Second quarter of 2024

__________

(b)The rates will go into effect on July 15, 2023, subject to refund.

Transmission Formula Rates

The Utility Registrants' transmission rates are each established based on a FERC-approved formula. ComEd, BGE, Pepco, DPL, and ACE are required to file an annual update to the FERC-approved formula on or before May 15, and PECO is required to file on or before May 31, with the resulting rates effective on June 1 of the same year. The annual update for ComEd is based on prior year actual costs and current year projected capital additions (initial year revenue requirement). The update for ComEd also reconciles any differences between the revenue requirement in effect beginning June 1 of the prior year and actual costs incurred for that year (annual reconciliation). The annual update for PECO is based on prior year actual costs and current year projected capital additions, accumulated depreciation, and accumulated deferred income taxes. The annual update for BGE, Pepco, DPL, and ACE is based on prior year actual costs and current year projected capital additions, accumulated depreciation, depreciation and amortization expense, and accumulated deferred income taxes. The update for PECO, BGE, Pepco, DPL, and ACE also reconciles any differences between the actual costs and actual revenues for the calendar year (annual reconciliation).

For 2022, the following total increases/(decreases) were included in the Utility Registrants' electric transmission formula rate updates:


Registrant(a)	Initial Revenue Requirement Increase		Annual Reconciliation (Decrease) Increase		Total Revenue Requirement Increase			Allowed Return on Rate Base(b)		Allowed ROE(c)
ComEd	$	24	$	(24)	$	—		8.11	%	11.50	%
PECO	23		16		39			7.30	%	10.35	%
BGE	25		(4)		16		(d)	7.30	%	10.50	%
Pepco	16		15		31			7.60	%	10.50	%
DPL	9		2		11			7.09	%	10.50	%
ACE	21		13		34			7.18	%	10.50	%

__________

(a)All rates are effective June 1, 2022 - May 31, 2023, subject to review by interested parties pursuant to review protocols of each Utility Registrants' tariff.

(c)The rate of return on common equity for each Utility Registrant includes a 50-basis-point incentive adder for being a member of a RTO.

Other State Regulatory Matters

Illinois Regulatory Matters

CEJA (Exelon and ComEd). On September 15, 2021, the Governor of Illinois signed into law CEJA. CEJA includes, among other features, (1) procurement of CMCs from qualifying nuclear-powered generating facilities, (2) a requirement to file a general rate case or a new four-year MRP no later than January 20, 2023 to establish rates effective after ComEd’s existing performance-based distribution formula rate sunsets, (3) an extension of and certain adjustments to ComEd’s energy efficiency MWh savings goals, (4) revisions to the Illinois RPS requirements, including expanded charges for the procurement of RECs from wind and solar generation, (5) a requirement to accelerate amortization of ComEd’s unprotected excess deferred income taxes (EDIT) that ComEd was previously directed by the ICC to amortize using the average rate assumption method which equates to approximately 39.5 years, and (6) requirements that ComEd and the ICC initiate and conduct various regulatory proceedings on subjects including ethics, spending, grid investments, and performance metrics. Regulatory or legal challenges regarding the validity or implementation of CEJA are possible and Exelon and ComEd cannot reasonably predict the outcome of any such challenges.

ComEd Electric Distribution Rates

ComEd filed, and received approval for, its last performance-based electric distribution formula rate update filing under EIMA in 2022; those rates are in effect throughout 2023.

On February 3, 2022, the ICC approved a tariff that establishes the process under which ComEd will reconcile its 2022 and 2023 rate year revenue requirements with actual costs. Those reconciliation amounts will be determined using the same process as were used for prior reconciliations under the performance-based electric distribution formula rate. Using that process, for the rate years 2022 and 2023 ComEd will ultimately collect revenues from customers reflecting each year’s actual recoverable costs, year-end rate base, and a weighted average debt and equity return on distribution rate base, with the ROE component based on the annual average of the monthly yields of the 30-year U.S. Treasury bonds plus 580 basis points. ComEd will in 2023 file with the ICC the first such petition to reconcile its 2022 actual costs with the approved revenue requirement that was in effect in 2022. The rate year 2023 reconciliation will be filed in 2024.

Beginning in 2024, ComEd will recover from retail customers, subject to certain exceptions, the costs it incurs to provide electric delivery services either through its electric distribution rate or other recovery mechanisms authorized by CEJA. On January 17, 2023, ComEd filed a petition with the ICC seeking approval of a MRP for 2024-2027. The MRP supports a multi-year grid plan (Grid Plan), also filed on January 17, covering planned investments on the electric distribution system within ComEd’s service area through 2027. Costs incurred during each year of the multi-year plan are subject to ICC review and the plan’s revenue requirement for each year will be reconciled with the actual costs that the ICC determines are prudently and reasonably incurred for that year. The reconciliation is subject to adjustment for certain costs, including a limitation on recovery of costs that are more than 105% of certain costs in the previously approved MRP revenue requirement, absent a modification of the rate plan itself. Thus, for example, the rate adjustments necessary to reconcile 2024 revenues to ComEd’s actual 2024 costs incurred would take effect in January 2026 after the ICC’s review during 2025. The ICC must issue its decision on both the MRP and Grid Plan by mid-December 2023, for rates to begin with the January 2024 billing cycle.

In January 2022, ComEd filed a request with the ICC proposing performance metrics that would be used in determining ROE incentives and penalties in the event ComEd filed a MRP in January 2023. On September 27, 2022, the ICC issued a final order approving seven performance metrics that provide symmetrical performance adjustments of 32 total basis points to ComEd’s rate of return on common equity based on the extent to which ComEd achieves the annual performance goals. On November 10, 2022, the ICC granted ComEd's application for rehearing, in part. Rehearing on those issues must conclude by April 9, 2023. It is unclear if rehearing will result in modifications to the ICC-approved performance and tracking metrics. ComEd will make its initial filing in 2025 to assess performance achieved under the metrics in 2024, and to determine any ROE adjustment, which would take effect in 2026.

Carbon Mitigation Credit

CEJA establishes decarbonization requirements for Illinois as well as programs to support the retention and development of emissions-free sources of electricity. ComEd is required to purchase CMCs from participating

nuclear-powered generating facilities between June 1, 2022 and May 31, 2027. The price to be paid for each CMC was established through a competitive bidding process that included consumer-protection measures that capped the maximum acceptable bid amount and a formula that reduces CMC prices by an energy price index, the base residual auction capacity price in the ComEd zone of PJM, and the monetized value of any federal tax credit or other subsidy if applicable. The consumer protection measures contained in CEJA will result in net payments to ComEd ratepayers if the energy index, the capacity price and applicable federal tax credits or subsidy exceed the CMC contract price. ComEd began issuing credits to its retail customers under its new CMC rider in the June 2022 billing period and recorded a regulatory asset of $843 million as of December 31, 2022 for the difference between customer credits issued and the credit to be received from the participating nuclear-powered generating facilities.

Under CEJA, the costs of procuring CMCs will be recovered through a new rider, the Rider Carbon-Free Resource Adjustment (Rider CFRA). The Rider CFRA provides for an annual reconciliation and true-up to actual costs incurred or credits received by ComEd to purchase CMCs, with any difference to be credited to or collected from ComEd’s retail customers in subsequent periods. The difference between the net payments to (or receivables from) ComEd ratepayers and the credits received by ComEd to purchase CMCs is recorded to Purchased Power expense with an offset to the regulatory asset (or regulatory liability). On December 21, 2022, ComEd filed a supplemental statement to the Rider CFRA proposing that the company recover costs or provide credits faster than the tariff allows, implement monthly reconciliations, and allow the Company to adjust Rider CFRA rates based not only on anticipated differences but also past payments or credits. The ICC approved the proposal on January 19, 2023. If the revised CFRA tariff were in effect as of the balance sheet date, the current portion of the CMC regulatory asset balance would have increased by $117 million as of December 31, 2022, with an offsetting reduction in the noncurrent regulatory asset balance.

Excess Deferred Income Taxes

The ICC initiated a docket to accelerate and fully credit to customers TCJA unprotected property-related EDIT no later than December 31, 2025. On July 7, 2022, the ICC issued a final order on the schedule for the acceleration of EDIT amortization, adopting the proposal as submitted by several parties, including ComEd, ICC Staff, the Illinois Attorney General's Office, and the Citizens Utility Board. EDIT amortization will be credited to customers through a new rider from January 1, 2023 through December 31, 2025.

Beneficial Electrification Plan

On July 1, 2022, ComEd filed a proposed plan to promote beneficial electrification efforts in its Northern Illinois service area with the ICC as required by CEJA. ComEd's plan is designed to meaningfully reduce barriers to beneficial electrification, including those related to electric vehicles (EVs), such as upfront technology adoption costs, charging costs, and charging availability; promote equity and environmental justice; reduce carbon emissions and surface-level pollutants; and support customer education and awareness of electrification options. As proposed, ComEd could expend approximately $300 million in total over the three-year period 2023 through 2025. The beneficial electrification plan requests recovery of all those costs through a rider mechanism, under which certain of the costs would be amortized over ten years with a return on the unrecovered balance. On November 10, 2022, in responses to a Staff motion, the ICC approved an interim order dismissing from ComEd’s Beneficial Electrification Plan certain rebates (rebates to support residential customers’ purchase of EVs; and rebates to ComEd’s commercial and industrial customers to support the installation of EV chargers). However, the ICC found that building electrification measures were properly within the scope of beneficial electrification, in line with ComEd’s proposal. The ICC also adopted ComEd’s position regarding the rate impact of spending associated with EV related infrastructure. On November 21, 2022, ComEd filed an application for rehearing of the interim order, which the ICC denied. On December 9, 2022, the Office of the Illinois Attorney General (AG) also sought rehearing. On December 15, 2022, ComEd filed an appeal of the ICC’s interim order and the denial of rehearing with the Illinois Appellate Court. That appeal has been stayed pending the resolution of the balance of the case. Also on December 15, 2022, the ICC denied the AG’s application for rehearing and the AG subsequently filed an appeal. The testimony and hearing phase of this proceeding has concluded and the parties are now drafting legal briefs on the contested issues. By law the ICC must issue its decision by the end of March, therefore, a final order is expected to be issued by the ICC no later than the first quarter of 2023. At this time, ComEd cannot predict the outcome of these proceedings.

Energy Efficiency

CEJA extends ComEd’s current cumulative annual energy efficiency MWh savings goals through 2040, adds expanded electrification measures to those goals, increases low-income commitments and adds a new performance adjustment to the energy efficiency formula rate. ComEd expects its annual spend to increase in 2023 through 2040 to achieve these energy efficiency MWh savings goals, which will be deferred as a separate regulatory asset that will be recovered through the energy efficiency formula rate over the weighted average useful life, as approved by the ICC, of the related energy efficiency measures.

Energy Efficiency Formula Rate (Exelon and ComEd). FEJA allows ComEd to defer energy efficiency costs (except for any voltage optimization costs which are recovered through the electric distribution formula rate) as a separate regulatory asset that is recovered through the energy efficiency formula rate over the weighted average useful life, as approved by the ICC, of the related energy efficiency measures. ComEd earns a return on the energy efficiency regulatory asset at a rate equal to its weighted average cost of capital, which is based on a year-end capital structure and calculated using the same methodology applicable to ComEd’s electric distribution formula rate. Beginning January 1, 2018 through December 31, 2030, the ROE that ComEd earns on its energy efficiency regulatory asset is subject to a maximum downward or upward adjustment of 200 basis points if ComEd’s cumulative persisting annual MWh savings falls short of or exceeds specified percentage benchmarks of its annual incremental savings goal. ComEd is required to file an update to its energy efficiency formula rate on or before June 1st each year, with resulting rates effective in January of the following year. The annual update is based on projected current year energy efficiency costs, PJM capacity revenues, and the projected year-end regulatory asset balance less any related deferred income taxes (initial year revenue requirement). The update also reconciles any differences between the revenue requirement in effect for the prior year and actual costs incurred from the year (annual reconciliation). The approved energy efficiency formula rate also provides for revenue decoupling provisions similar to those in ComEd’s electric distribution formula rate.

During 2022, the ICC approved the following total increases in ComEd's requested energy efficiency revenue requirement:


Filing Date	Requested Revenue Requirement Increase		Approved Revenue Requirement Increase(a)		Approved ROE		Approval Date	Rate Effective Date
May 25, 2022	$	50	$	50	7.85	%	October 27, 2022	January 1, 2023

_________

Maryland Regulatory Matters

Maryland Revenue Decoupling (Exelon, BGE, PHI, Pepco, and DPL). In 1998, the MDPSC approved natural gas monthly rate adjustments for BGE and in 2007, the MDPSC approved electric monthly rate adjustments for BGE and BSAs for Pepco and DPL, all of which are decoupling mechanisms. As a result of the decoupling mechanisms, certain Operating revenues from electric and natural gas distribution at BGE and Operating revenues from electric distribution at Pepco Maryland (see also District of Columbia Revenue Decoupling below for Pepco District of Columbia) and DPL are not impacted by abnormal weather or usage per customer. For BGE, Pepco, and DPL, the decoupling mechanism eliminates the impacts of abnormal weather or customer usage by recognizing revenues based on an authorized distribution amount per customer by customer class. Operating revenues from electric and natural gas distribution at BGE and Operating revenues from electric distribution at Pepco Maryland and DPL are, however, impacted by changes in the number of customers.

Maryland Order Directing the Distribution of Energy Assistance Funds (Exelon, BGE, PHI, Pepco, and DPL). On June 15, 2021, the MDPSC issued an order authorizing the disbursal of funds to utilities in accordance with Maryland COVID-19 relief legislation. Under this order, BGE, Pepco, and DPL received funds of $50 million,

$12 million, and $8 million, respectively, in July 2021. The funds have been used to reduce or eliminate certain qualifying past-due residential customer receivables.

District of Columbia Regulatory Matters

District of Columbia Revenue Decoupling (Exelon, PHI, and Pepco). In 2009, the DCPSC approved a BSA, which is a decoupling mechanism. As a result of the decoupling mechanism, Operating revenues from electric distribution at Pepco District of Columbia (see also Maryland Revenue Decoupling above for Pepco Maryland) are not impacted by abnormal weather or usage per customer. The decoupling mechanism eliminates the impacts of abnormal weather or customer usage by recognizing revenues based on an authorized distribution amount per customer by customer class. Operating revenues from electric distribution at Pepco District of Columbia are, however, impacted by changes in the number of customers.

New Jersey Regulatory Matters

Conservation Incentive Program (CIP) (Exelon, PHI, and ACE). On September 25, 2020, ACE filed an application with the NJBPU as was required seeking approval to implement a portfolio of energy efficiency programs pursuant to New Jersey’s clean energy legislation. The filing included a request to implement a CIP that would eliminate the favorable and unfavorable impacts of weather and customer usage patterns on distribution revenues for most customers. The CIP compares current distribution revenues by customer class to approved target revenues established in ACE’s most recent distribution base rate case. The CIP is calculated annually and recovery is subject to certain conditions, including an earnings test and ceilings on customer rate increases.

On April 27, 2021, the NJBPU approved the settlement filed by ACE and the third parties to the proceeding. The approved settlement addresses all material aspects of ACE’s filing, including ACE’s ability to implement the CIP prospectively effective July 1, 2021. As a result of this decoupling mechanism, operating revenues will no longer be impacted by abnormal weather or usage for most customers. Starting in third quarter of 2021, ACE will record alternative revenue program revenues for its best estimate of the distribution revenue impacts resulting from future changes in CIP rates that it believes are probable of approval by the NJBPU in accordance with this mechanism.

Termination of Energy Procurement Provisions of PPAs (Exelon, PHI, and ACE). On December 22, 2021, ACE filed with the NJBPU a petition to terminate the provisions in the PPAs to purchase electricity from two coal-powered generation facilities located in the state of New Jersey. The petition was approved by the NJBPU on March 23, 2022. Upon closing of the transaction on March 31, 2022, ACE recognized a liability of $203 million for the contract termination fee, which is to be paid by the end of 2024, and recognized a corresponding regulatory asset of $203 million.

As of December 31, 2022, the $137 million liability for the contract termination fee consists of $87 million and $50 million included in Other current liabilities and Other deferred credits and other liabilities, respectively, in Exelon's Consolidated Balance Sheet. The current and noncurrent liabilities are included in PPA termination obligation and Other deferred credits and other liabilities, respectively, in PHI's and ACE's Consolidated Balance Sheets. For the year ended December 31, 2022, ACE has paid $66 million of the liability, which is recorded in Changes in Other assets and liabilities in Exelon's, PHI's, and ACE's Consolidated Statements of Cash Flows.

ACE Infrastructure Investment Program Filings (Exelon, PHI, and ACE). On February 28, 2018, ACE filed with the NJBPU the company’s IIP proposing to seek recovery of a series of investments through a new rider mechanism, totaling $338 million, between 2019-2022 to provide safe and reliable service for its customers. The IIP will allow for more timely recovery of investments made to modernize and enhance ACE’s electric system. On April 15, 2019, ACE entered into a settlement agreement with other parties, which allows for a recovery totaling $96 million of reliability related capital investments from July 1, 2019 through June 30, 2023. On April 18, 2019, the NJBPU approved the settlement agreement.

On October 31, 2022, ACE filed with the NJBPU the company’s second IIP, proposing to seek recovery through a new component of ACE’s rider mechanism, totaling $379 million, over the four-year period of July 1, 2023 to June 30, 2027. The new IIP will allow ACE to invest in projects that are designed to enhance the reliability, resiliency, and safety of the service ACE provides to its customers. ACE has requested that the NJBPU render a

decision in this matter during the first half of 2023 but cannot predict if the NJBPU will approve the application as filed.

Advanced Metering Infrastructure Filing (Exelon, PHI, and ACE). On August 26, 2020, ACE filed an application with the NJBPU as was required seeking approval to deploy a smart energy network in alignment with New Jersey’s Energy Master Plan and Clean Energy Act. The proposal consisted of estimated costs totaling $220 million with deployment taking place over a 3-year implementation period from approximately 2021 to 2024 that involves the installation of an integrated system of smart meters for all customers accompanied by the requisite communications facilities and data management systems.

On July 14, 2021, the NJBPU approved the settlement filed by ACE and the third parties to the proceeding. The approved settlement addresses all material aspects of ACE's smart energy network deployment plan, including cost recovery of the investment costs, incremental O&M expenses, and the unrecovered balance of existing infrastructure through future distribution rates.

New Jersey Clean Energy Legislation (Exelon, PHI, and ACE). On May 23, 2018, New Jersey enacted legislation that established and modified New Jersey’s clean energy and energy efficiency programs and solar and RPS. On the same day, New Jersey enacted legislation that established a ZEC program that provides compensation for nuclear plants that demonstrate to the NJBPU that they meet certain requirements. Under the legislation, the NJBPU will issue ZECs to the qualifying nuclear power plants and the electric distribution utilities in New Jersey, including ACE, will be required to purchase those ZECs. ACE began collecting from retail distribution customers, through a non-bypassable charge, all costs associated with the procurement of the ZECs effective April 18, 2019.

Other Federal Regulatory Matters

Transmission-Related Income Tax Regulatory Assets (Exelon, ComEd, BGE, PHI, Pepco, DPL, and ACE). On December 13, 2016 (and as amended on March 13, 2017), BGE filed with FERC to begin recovering certain existing and future transmission-related income tax regulatory assets through its transmission formula rate. BGE’s existing regulatory assets included (1) amounts that, if BGE’s transmission formula rate provided for recovery, would have been previously amortized and (2) amounts that would be amortized and recovered prospectively. On November 16, 2017, FERC issued an order rejecting BGE’s proposed revisions to its transmission formula rate to recover these transmission-related income tax regulatory assets. In the fourth quarter of 2017, ComEd, BGE, Pepco, DPL, and ACE fully impaired their associated transmission-related income tax regulatory assets for the portion of the income tax regulatory assets that would have been previously amortized.

On February 23, 2018 (as amended on July 9, 2018), ComEd, Pepco, DPL, and ACE each filed with FERC to revise their transmission formula rate mechanisms to permit recovery of transmission-related income tax regulatory assets, including those amounts that would have been previously amortized and recovered through rates had the transmission formula rate provided for such recovery.

On September 7, 2018, FERC issued orders rejecting (1) BGE’s rehearing request of FERC's November 16, 2017 order and (2) the February 23, 2018 (as amended on July 9, 2018) filing by ComEd, Pepco, DPL, and ACE for similar recovery.

On November 2, 2018, BGE filed an appeal of FERC's September 7, 2018 order to the U.S. Court of Appeals for the D.C. Circuit. On March 27, 2020, the U.S. Court of Appeals for the D.C. Circuit Court denied BGE’s November 2, 2018 appeal.

On October 1, 2018, ComEd, BGE, Pepco, DPL, and ACE submitted filings to recover ongoing non-TCJA amortization amounts and credit TCJA transmission-related income tax regulatory liabilities to customers for the prospective period starting on October 1, 2018. On April 26, 2019, FERC issued an order accepting ComEd's, BGE's, Pepco's, DPL's, and ACE's October 1, 2018 filings, effective October 1, 2018, subject to refund and established hearing and settlement judge procedures. On April 24, 2020, ComEd, BGE, Pepco, DPL, ACE, and other parties filed a settlement agreement with FERC, which FERC approved on September 24, 2020. The settlement agreement provides for the recovery of ongoing transmission-related income tax regulatory assets and establishes the amount and amortization period for excess deferred income taxes resulting from TCJA. The settlement resulted in a reduction to Operating revenues and an offsetting reduction to Income tax expense in the second quarter of 2020.

FERC Audit (Exelon and ComEd). The Registrants are subject to periodic audits and investigations by FERC. FERC’s Division of Audits and Accounting initiated a nonpublic audit of ComEd in May 2021 evaluating ComEd’s compliance with (1) approved terms, rates and conditions of its transmission formula rate mechanism; (2) accounting requirements of the Uniform System of Accounts; (3) reporting requirements of the FERC Form 1; and (4) the requirements for record retention. The audit covered the period from January 1, 2017 through August 31, 2022. On January 17, 2023, ComEd was provided with information on a series of potential findings, including concerning ComEd's methodology regarding the allocation of certain overhead costs to capital under FERC regulations. The final outcome and resolution of the findings or of the audit itself cannot be predicted and the results, while not reasonably estimable at this time, could be material to the Exelon and ComEd financial statements.

Regulatory Assets and Liabilities

Regulatory assets represent incurred costs that have been deferred because of their probable future recovery from customers through regulated rates. Regulatory liabilities represent the excess recovery of costs or accrued credits that have been deferred because it is probable such amounts will be returned to customers through future regulated rates or represent billings in advance of expenditures for approved regulatory programs.

The following tables provide information about the regulatory assets and liabilities of the Registrants as of December 31, 2022 and 2021:


December 31, 2022	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory assets
Pension and OPEB	$	1,867	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Pension and OPEB - merger related	769		—		—		—		—		—		—		—
Deferred income taxes	606		—		595		—		11		11		—		—
AMI programs - deployment costs	122		—		—		69		53		25		22		6
AMI programs - legacy meters	160		48		—		20		92		53		17		22

Electric distribution formula rate annual reconciliations	271		271		—		—		—		—		—		—
Electric distribution formula rate significant one-time events	115		115		—		—		—		—		—		—
Energy efficiency costs	1,434		1,434		—		—		—		—		—		—
Fair value of long-term debt	521		—		—		—		414		—		—		—
Fair value of PHI's unamortized energy contracts	44		—		—		—		44		—		—		—
Carbon mitigation credit	843		843		—		—		—		—		—		—
Asset retirement obligations	151		99		22		21		9		6		2		1
MGP remediation costs	318		293		13		12		—		—		—		—
Renewable energy	85		85		—		—		—		—		—		—
Electric energy and natural gas costs	241		—		15		25		201		41		26		134
Transmission formula rate annual reconciliations	37		—		16		—		21		3		5		13
Energy efficiency and demand response programs	560		—		—		286		274		187		74		13

Under-recovered revenue decoupling	106		—		—		8		98		98		—		—

Removal costs	782		—		—		171		611		144		109		359
DC PLUG charge	37		—		—		—		37		37		—		—
Deferred storm costs	90		—		—		55		35		2		2		31
COVID-19	58		20		17		8		13		10		3		—
Under-recovered credit loss expense	71		38		—		—		33		—		—		33
Other	390		196		54		29		119		55		22		12
Total regulatory assets	9,678		3,442		732		704		2,065		672		282		624
Less: current portion	1,641		775		80		177		455		235		80		130
Total noncurrent regulatory assets	$	8,037	$	2,667	$	652	$	527	$	1,610	$	437	$	202	$	494


December 31, 2022	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory liabilities
Deferred income taxes	$	3,546	$	2,010	$	—	$	682	$	854	$	402	$	304	$	148
Decommissioning the Regulatory Agreement Units	2,897		2,660		237		—		—		—		—		—
Removal costs	1,750		1,604		—		35		111		20		91		—
Electric energy and natural gas costs	87		11		65		4		7		—		7		—
Transmission formula rate annual reconciliations	31		3		—		18		10		9		1		—
Renewable portfolio standards costs	810		810		—		—		—		—		—		—
Stranded costs	9		—		—		—		9		—		—		9
Energy efficiency and demand response programs	15		—		15		—		—		—		—		—
Over-recovered revenue decoupling	19		—		—		4		15		—		6		9
Dedicated facilities charge	110		—		—		110		—		—		—		—
Other	275		41		28		10		81		30		15		16
Total regulatory liabilities	9,549		7,139		345		863		1,087		461		424		182
Less: current portion	437		226		75		47		76		6		44		26
Total noncurrent regulatory liabilities	$	9,112	$	6,913	$	270	$	816	$	1,011	$	455	$	380	$	156


December 31, 2021	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory assets
Pension and OPEB	$	2,409	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Pension and OPEB - merger related	893		—		—		—		—		—		—		—
Deferred income taxes	883		—		873		—		10		10		—		—
AMI programs - deployment costs	145		—		—		89		56		30		26		—
AMI programs - legacy meters	186		69		—		29		88		60		21		7
Electric distribution formula rate annual reconciliations	44		44		—		—		—		—		—		—
Electric distribution formula rate significant one-time events	104		104		—		—		—		—		—		—
Energy efficiency costs	1,181		1,181		—		—		—		—		—		—
Fair value of long-term debt	557		—		—		—		443		—		—		—
Fair value of PHI's unamortized energy contracts	236		—		—		—		236		—		—		—
Asset retirement obligations	145		99		21		19		6		5		—		1
MGP remediation costs	283		266		8		9		—		—		—		—
Renewable energy	219		219		—		—		—		—		—		—
Electric energy and natural gas costs	96		—		—		49		47		29		13		5
Transmission formula rate annual reconciliations	43		—		14		1		28		—		8		20
Energy efficiency and demand response programs	564		—		—		283		281		199		79		3

Under-recovered revenue decoupling	157		—		—		32		125		125		—		—

Removal costs	758		—		—		143		615		147		109		360
DC PLUG charge	70		—		—		—		70		70		—		—
Deferred storm costs	49		—		—		—		49		3		3		43
COVID-19	82		28		33		8		13		10		3		—
Under-recovered credit loss expense	89		60		—		—		29		—		—		29
Other	327		135		42		30		130		57		18		23
Total regulatory assets	9,520		2,205		991		692		2,226		745		280		491
Less: current portion	1,296		335		48		215		432		213		68		61
Total noncurrent regulatory assets	$	8,224	$	1,870	$	943	$	477	$	1,794	$	532	$	212	$	430


December 31, 2021	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory liabilities
Deferred income taxes	$	4,005	$	2,105	$	—	$	819	$	1,081	$	525	$	354	$	202
Decommissioning the Regulatory Agreement Units	3,357		2,760		597		—		—		—		—		—
Removal costs	1,694		1,541		—		39		114		20		94		—

Electric energy and natural gas costs	113		25		71		—		17		9		3		5
Transmission formula rate annual reconciliations	8		7		—		—		1		1		—		—

Renewable portfolio standards costs	500		500		—		—		—		—		—		—
Stranded costs	35		—		—		—		35		—		—		24
Other	292		6		61		102		58		8		15		11
Total regulatory liabilities	10,004		6,944		729		960		1,306		563		466		242
Less: current portion	376		185		94		26		68		14		25		28
Total noncurrent regulatory liabilities	$	9,628	$	6,759	$	635	$	934	$	1,238	$	549	$	441	$	214

Descriptions of the regulatory assets and liabilities included in the tables above are summarized below, including their recovery and amortization periods.


Line Item	Description	End Date of Remaining Recovery/Refund Period	Return
Pension and OPEB	Primarily reflects the Utility Registrants' and PHI's portion of deferred costs, including unamortized actuarial losses (gains) and prior service costs (credits), associated with Exelon's pension and OPEB plans, which are recovered through customer rates once amortized through net periodic benefit cost. Also, includes the Utility Registrants' and PHI's non–service cost components capitalized in Property, plant and equipment, net on their Consolidated Balance Sheets.	The deferred costs are amortized over the plan participants' average remaining service periods subject to applicable pension and OPEB cost recognition policies. See Note 14 — Retirement Benefits for additional information. The capitalized non–service cost components are amortized over the lives of the underlying assets.	No
Pension and OPEB - merger related	The deferred costs established at the date of the Constellation and PHI mergers are amortized over the plan participants' average remaining service periods subject to applicable pension and OPEB cost recognition policies. The costs are recovered through customer rates once amortized through net periodic benefit cost. See Note 14 — Retirement Benefits for additional information. The capitalized non–service cost components are amortized over the lives of the underlying assets.	Legacy BGE - 2038 Legacy PHI - 2032	No


Line Item	Description	End Date of Remaining Recovery/Refund Period	Return
Deferred income taxes	Represents deferred income taxes that are recoverable or refundable through customer rates, primarily associated with accelerated depreciation, the equity component of AFUDC, and the effects of income tax rate changes, including those resulting from the TCJA. These amounts include transmission-related regulatory liabilities that require FERC approval separate from the transmission formula rate. See Transmission-Related Income Tax Regulatory Assets section above for additional information.	Amounts are recoverable over the period in which the related deferred income taxes reverse, which is generally based on the expected life of the underlying assets. For TCJA, generally refunded over the remaining depreciable life of the underlying assets, except in certain jurisdictions where the commissions have approved a shorter refund period for certain assets not subject to IRS normalization rules.	No
AMI programs - deployment costs	Represents installation and ongoing incremental costs of new smart meters, including implementation costs at Pepco and DPL of dynamic pricing for energy usage resulting from smart meters.	BGE - 2026 Pepco - 2029 DPL - 2030 ACE - To be determined in next distribution rate case filed with NJBPU	BGE, Pepco, DPL - Yes ACE - Yes, on incremental costs of new smart meters
AMI programs - legacy meters	Represents early retirement costs of legacy meters.	ComEd - 2028 BGE - 2026 Pepco - 2029 DPL - 2030 ACE - To be determined in next distribution rate case filed with NJBPU	ComEd, Pepco (District of Columbia), DPL (Delaware), ACE - Yes BGE, Pepco (Maryland), DPL (Maryland) - No
Electric distribution formula rate annual reconciliations	Represents under/(over)-recoveries related to electric distribution service costs recoverable through ComEd's performance-based formula rate, which is updated annually with rates effective on January 1st.	2024	Yes
Electric distribution formula rate significant one-time events	Represents deferred distribution service costs related to ComEd's significant one-time events (e.g., storm costs), which are recovered over 5 years from date of the event.	2026	Yes


Line Item	Description	End Date of Remaining Recovery/Refund Period	Return
Energy efficiency costs	Represents ComEd's costs recovered through the energy efficiency formula rate tariff and the reconciliation of the difference of the revenue requirement in effect for the prior year and the revenue requirement based on actual prior year costs. Deferred energy efficiency costs are recovered over the weighted average useful life of the related energy measure.	2034	Yes
Fair value of long-term debt	Represents the difference between the carrying value and fair value of long-term debt of BGE and PHI of $107 million and $414 million, respectively, as of December 31, 2022, and $114 million and $443 million, respectively, as of December 31, 2021, as of the PHI and Constellation merger dates.	BGE - 2036 PHI - 2045	No
Fair value of PHI’s unamortized energy contracts	Represents the regulatory assets recorded at Exelon and PHI offsetting the fair value adjustment related to Pepco's, DPL's, and ACE's electricity and natural gas energy supply contracts recorded at PHI as of the PHI merger date.	2036	No
Carbon mitigation credit	Represents CMC procurement costs and credits as well as reasonable costs ComEd has incurred to implement and comply with the CMC procurement process.	Over 9 months starting with the September billing period and ending with the following May billing period	No
Asset retirement obligations	Represents future legally required removal costs associated with existing AROs.	Over the life of the related assets	Yes, once the removal activities have been performed
MGP remediation costs	Represents environmental remediation costs for MGP sites recorded at ComEd, PECO, and BGE.	ComEd and PECO - Over the expected remediation period. See Note 18 — Commitments and Contingencies for additional information. BGE - 10 years from when the remediation spend is approved by the MDPSC.	ComEd and PECO - No BGE - Yes
Renewable energy	Represents the change in fair value of ComEd‘s 20-year floating-to-fixed long-term renewable energy swap contracts.	2032	No


Line Item	Description	End Date of Remaining Recovery/Refund Period	Return
Electric energy and natural gas costs	Represents under (over)-recoveries related to energy and gas supply related costs recoverable (refundable) under approved rate riders.	2025	DPL (Delaware), ACE - Yes ComEd, PECO, BGE, Pepco, DPL (Maryland) - No
Transmission formula rate annual reconciliations	Represents under (over)-recoveries related to transmission service costs recoverable through the Utility Registrants’ FERC formula rates, which are updated annually with rates effective each June 1st.	2024	Yes
Energy efficiency and demand response programs	Includes under (over)-recoveries of costs incurred related to energy efficiency programs and demand response programs and recoverable costs associated with customer direct load control and energy efficiency and conservation programs that are being recovered from customers.	PECO - 2025 BGE - 2027 Pepco, DPL - 2037 ACE - 2032	BGE, Pepco (Maryland), DPL (Maryland), ACE - Yes DPL (Delaware), Pepco (District of Columbia) - No PECO - Yes on capital investment recovered through this mechanism

Under (over) -recovered revenue decoupling	Represents electric and / or gas distribution costs recoverable from or refundable to customers under decoupling mechanisms.	BGE - 2023 Pepco (Maryland) - $11 million - 2023 Pepco (District of Columbia) - $87 million: $49 million to be recovered via monthly surcharge by 2024; $38 million to be recovered via the monthly surcharge, the timing of which will be impacted by the next multi-year plan filed with DCPSC DPL - 2023 ACE - 2024	BGE, Pepco, DPL, ACE - No
Stranded costs	The regulatory asset represents certain stranded costs associated with ACE's former electricity generation business. The regulatory liability represents overcollection of a customer surcharge collected by ACE to fund principal and interest payments on Transition Bonds of ACE Transition Funding that securitized such costs.	Stranded costs - 2022 Overcollection - 2024	Stranded costs - Yes Overcollection - No


Line Item	Description	End Date of Remaining Recovery/Refund Period	Return
Removal costs	For BGE, Pepco, DPL, and ACE, the regulatory asset represents costs incurred to remove property, plant and equipment in excess of amounts received from customers through depreciation rates. For ComEd, BGE, Pepco, and DPL, the regulatory liability represents amounts received from customers through depreciation rates to cover the future non–legally required cost to remove property, plant and equipment, which reduces rate base for ratemaking purposes.	BGE, Pepco, DPL, and ACE - Asset is generally recovered over the life of the underlying assets. ComEd, BGE, Pepco, and DPL - Liability is reduced as costs are incurred.	Yes
DC PLUG charge	Represents costs associated with DC PLUG, which is a projected six-year, $500 million project to place underground some of the District of Columbia’s most outage-prone power lines with $250 million of the project costs funded by Pepco and $250 million funded by the District of Columbia. Rates for the DC PLUG initiative went into effect on February 7, 2018.	2024	Portion of asset funded by Pepco-Yes
Deferred storm costs	For Pepco, DPL, ACE, and BGE, amounts represent total incremental storm restoration costs incurred due to major storm events recoverable from customers in the Maryland and New Jersey jurisdictions.	Pepco - 2024 DPL - 2027 ACE - $24 million - 2024; $7 million to be determined in next distribution rate case filed with NJBPU BGE - $55 million to be determined in next multi-year plan filed with MDPSC	Pepco, DPL, BGE - Yes ACE - No
Decommissioning the Regulatory Units	Represents estimated excess funds at the end of decommissioning the Regulatory Agreement Units. See below regarding Decommissioning the Regulatory Agreement Units for additional information.	Not currently being refunded	No


Line Item	Description	End Date of Remaining Recovery/Refund Period	Return
COVID-19	Represents incremental credit losses and direct costs related to COVID-19 incurred primarily in 2020 at the Utility Registrants, partially offset by a decrease in travel costs at BGE, Pepco and DPL. Direct costs consisted primarily of costs to acquire personal protective equipment, costs for cleaning supplies and services, and costs to hire healthcare professionals to monitor the health of employees.	ComEd - 2025 BGE - $4 million - 2025; $4 million to be determined in the next multi-year plan filed with MDPSC PECO - 2024 Pepco (District of Columbia) - $8 million to be determined in the next multi-year plan filed with DCPSC Pepco (Maryland) - $1 million - 2026; $1 million to be determined in the next multi-year plan filed with MDPSC DPL (Maryland) - $1 million - 2027 DPL (Delaware) - $2 million to be determined in pending distribution rate case filed with DEPSC	ComEd and BGE - Yes PECO, Pepco, and DPL - No
Under-recovered credit loss expense	For ComEd and ACE, amounts represent the difference between annual credit loss expense and revenues collected in rates through ICC and NJBPU-approved riders. The difference between net credit loss expense and revenues collected through the rider each calendar year for ComEd is recovered over a twelve-month period beginning in June of the following calendar year. ACE intends to recover from June through May of each respective year, subject to approval of the NJBPU.	ComEd - 2024 ACE - To be determined in next Societal Benefits Rider filing with NJBPU	No


Line Item	Description	End Date of Remaining Recovery/Refund Period	Return
Renewable portfolio standards costs	Represents an overcollection of funds from both ComEd customers and alternative retail electricity suppliers to be spent on future renewable energy procurements.	$743 million to be determined in the ICC annual reconciliation for 2023 $67 million to be determined based on the LTRRPP developed by the IPA	No
Dedicated facilities charge	Represents the timing difference between the recovery of certain transmission-related assets and their depreciable life.	Depreciable life of the related assets	Yes

Decommissioning the Regulatory Agreement Units

The regulatory agreements with the ICC and PAPUC dictate obligations related to the shortfall or excess of NDT funds necessary for decommissioning the former ComEd units on a unit-by-unit basis and the former PECO units in total.

For the former PECO units, given the symmetric settlement provisions that allow for continued recovery of decommissioning costs from PECO customers in the event of a shortfall and the obligation for Constellation to ultimately return excess funds to PECO customers (on an aggregate basis for all seven units), decommissioning-related activities prior to separation on February 1, 2022 were generally offset in Exelon’s Consolidated Statements of Operations and Comprehensive Income with an offsetting adjustment to the regulatory liabilities or regulatory assets and an equal noncurrent affiliate receivable from or payable to Generation at PECO. Following the separation, decommissioning-related activities result in an adjustment to the Receivable related to Regulatory Agreement Units and an equal adjustment to the regulatory liabilities or regulatory assets at PECO.

For the former ComEd units, given no further recovery from ComEd customers is permitted and Constellation retains an obligation to ultimately return excess funds to ComEd customers (on a unit-by-unit basis), to the extent excess funds are expected for each unit, decommissioning-related activities prior to separation on February 1, 2022 were offset in the Consolidated Statements of Operations and Comprehensive Income with an offsetting adjustment to regulatory liabilities and noncurrent affiliate receivable from Generation at ComEd. Following the separation, decommissioning-related activities result in an adjustment to the Receivable related to Regulatory Agreement Units and an equal adjustment to the regulatory liabilities at ComEd. However, given the asymmetric settlement provision that does not allow for continued recovery from ComEd customers in the event of a shortfall, recognition of a regulatory asset at ComEd is not permissible.

Capitalized Ratemaking Amounts Not Recognized


	Exelon		ComEd(a)		PECO		BGE(b)		PHI		Pepco(c)		DPL(c)		ACE(b)
December 31, 2022	$	57	$	8	$	—	$	28	$	21	$	18	$	2	$	1
December 31, 2021	43		1		—		37		5		3		2		—

__________

(a)Reflects ComEd's unrecognized equity returns earned for ratemaking purposes on its electric distribution formula rate regulatory assets.

(b)BGE's and ACE's authorized amounts capitalized for ratemaking purposes primarily relate to earnings on shareholders' investment on their respective AMI programs.

Changes in Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2022

Schedule Of Changes In Accumulated Other Comprehensive Income (Loss)

The following tables present changes in Exelon's AOCI, net of tax, by component:


	Cash Flow Hedges		Pension and Non-Pension Postretirement Benefit Plan Items (a)		Foreign Currency Items		Total
Balance at December 31, 2019	$	(2)	$	(3,165)	$	(27)	$	(3,194)
OCI before reclassifications	(3)		(357)		4		(356)
Amounts reclassified from AOCI	—		150		—		150
Net current-period OCI	(3)		(207)		4		(206)
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)

__________

(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.

Schedule of Income Taxes Allocated to Other Comprehensive Income (Loss) Components

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,
	2022		2021		2020
Pension and non-pension postretirement benefit plans:
Prior service benefit reclassified to periodic benefit cost	$	—	$	4	$	16
Actuarial loss reclassified to periodic benefit cost	(14)		(76)		(66)
Pension and non-pension postretirement benefit plans valuation adjustment	(14)		(153)		122

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2022	Jan. 31, 2023	Aug. 05, 2022
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-16169
Entity Registrant Name	EXELON CORPORATION
Entity Tax Identification Number	23-2990190
Entity Incorporation, State or Country Code	PA
Entity Address, Address Line One	10 South Dearborn Street
Entity Address, Address Line Two	P.O. Box 805379
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60680-5379
City Area Code	(800)
Local Phone Number	483-3220
Title of 12(b) Security	Common Stock, without par value
Trading Symbol	EXC
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 44,452,390,343
Entity Common Stock Shares Outstanding		994,126,931
Documents Incorporated by Reference [Text Block]	Portions of the Exelon Proxy Statement for the 2022 Annual Meeting of Shareholders and the Commonwealth Edison Company 2022 Information Statement are incorporated by reference in Part III.
Entity Central Index Key	0001109357
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Commonwealth Edison Co [Member]
Entity File Number	001-01839
Entity Registrant Name	COMMONWEALTH EDISON COMPANY
Entity Tax Identification Number	36-0938600
Entity Incorporation, State or Country Code	IL
Entity Address, Address Line One	10 South Dearborn Street
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60603-2300
City Area Code	(312)
Local Phone Number	394-4321
Title of 12(g) Security	Common Stock Purchase Warrants (1971 Warrants and Series B Warrants)
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock Shares Outstanding		127,021,394
Entity Central Index Key	0000022606
PECO Energy Co [Member]
Entity File Number	000-16844
Entity Registrant Name	PECO ENERGY COMPANY
Entity Tax Identification Number	23-0970240
Entity Incorporation, State or Country Code	PA
Entity Address, Address Line One	P.O. Box 8699
Entity Address, Address Line Two	2301 Market Street
Entity Address, City or Town	Philadelphia
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19101-8699
City Area Code	(215)
Local Phone Number	841-4000
Title of 12(b) Security	Cumulative Preferred Security, Series D
Trading Symbol	EXC/28
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock Shares Outstanding		170,478,507
Entity Central Index Key	0000078100
Baltimore Gas and Electric Company [Member]
Entity File Number	001-01910
Entity Registrant Name	BALTIMORE GAS AND ELECTRIC COMPANY
Entity Tax Identification Number	52-0280210
Entity Incorporation, State or Country Code	MD
Entity Address, Address Line One	2 Center Plaza
Entity Address, Address Line Two	110 West Fayette Street
Entity Address, City or Town	Baltimore
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21201-3708
City Area Code	(410)
Local Phone Number	234-5000
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock Shares Outstanding		1,000
Entity Central Index Key	0000009466
Pepco Holdings LLC [Member]
Entity File Number	001-31403
Entity Registrant Name	PEPCO HOLDINGS LLC
Entity Tax Identification Number	52-2297449
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	701 Ninth Street, N.W.
Entity Address, City or Town	Washington, District of Columbia
Entity Address, Postal Zip Code	20068-0001
City Area Code	(202)
Local Phone Number	872-2000
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Central Index Key	0001135971
Potomac Electric Power Company [Member]
Entity File Number	001-01072
Entity Registrant Name	POTOMAC ELECTRIC POWER COMPANY
Entity Tax Identification Number	53-0127880
Entity Address, Address Line One	701 Ninth Street, N.W.
Entity Address, City or Town	Washington, District of Columbia
Entity Address, Postal Zip Code	20068-0001
City Area Code	(202)
Local Phone Number	872-2000
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock Shares Outstanding		100
Entity Central Index Key	0000079732
Delmarva Power & Light Company [Member]
Entity File Number	001-01405
Entity Registrant Name	DELMARVA POWER & LIGHT COMPANY
Entity Tax Identification Number	51-0084283
Entity Address, Address Line One	500 North Wakefield Drive
Entity Address, City or Town	Newark
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19702-5440
City Area Code	(202)
Local Phone Number	872-2000
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock Shares Outstanding		1,000
Entity Central Index Key	0000027879
Atlantic City Electric Company [Member]
Entity File Number	001-03559
Entity Registrant Name	ATLANTIC CITY ELECTRIC COMPANY
Entity Tax Identification Number	21-0398280
Entity Incorporation, State or Country Code	NJ
Entity Address, Address Line One	500 North Wakefield Drive
Entity Address, City or Town	Newark
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19702-5440
City Area Code	(202)
Local Phone Number	872-2000
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock Shares Outstanding		8,546,017
Entity Central Index Key	0000008192
VIRGINIA \| Potomac Electric Power Company [Member]
Entity Incorporation, State or Country Code	VA
VIRGINIA \| Delmarva Power & Light Company [Member]
Entity Incorporation, State or Country Code	VA
DELAWARE \| Delmarva Power & Light Company [Member]
Entity Incorporation, State or Country Code	DE
DISTRICT OF COLUMBIA \| Potomac Electric Power Company [Member]
Entity Incorporation, State or Country Code	DC

Discontinued Operations (Details) - Income Statement - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Dispositions [Line Items]
Operating and maintenance	$ 4,673	$ 4,547	$ 4,641
Depreciation and Amortization	3,325	3,033	2,891
Taxes, Miscellaneous	1,390	1,291	1,232
Costs and Expenses	15,761	15,256	14,485
Other Nonoperating Income (Expense)	535	261	208
Nonoperating Income (Expense)	(912)	(1,028)	(1,099)
Income taxes	349	38	(7)
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	117	213	855
Net income (loss) attributable to noncontrolling interests	1	123	(9)
Net Income (Loss) from Discontinued Operations Available to Common Shareholders, Basic	116	90	864
Total transaction costs relating to the Separation	12
Total transaction and transition costs incurred related to the Separation	52	43	0
Exelon Generation Co L L C [Member]
Business Dispositions [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	1,855	18,466	16,399
Operating revenues from affiliates	161	1,189	1,206
Disposal Group, Including Discontinued Operation, Revenue	2,016	19,655	17,605
Purchased power and/or fuel	1,138	12,163	9,585
Operating and maintenance	371	4,174	4,794
Depreciation and Amortization	94	3,003	2,123
Taxes, Miscellaneous	44	475	482
Costs and Expenses	1,647	19,815	16,984
Gain (Loss) on Disposition of Assets	10	201	11
Disposal Group, Including Discontinued Operation, Operating Income (Loss)	379	41	632
Disposal Group, Including Discontinued Operation, Interest Expense	(20)	(282)	(328)
Other Nonoperating Income (Expense)	(281)	795	937
Nonoperating Income (Expense)	(301)	513	609
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	78	554	1,241
Income taxes	(40)	332	380
Equity in losses of unconsolidated affiliates	(1)	(9)	(6)
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	117	213	855
Net income (loss) attributable to noncontrolling interests	1	123	(9)
Net Income (Loss) from Discontinued Operations Available to Common Shareholders, Basic	$ 116	$ 90	$ 864

Derivative Financial Instruments - Summary of Economic Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Unrealized Gain (Loss) on Derivatives	$ 53	$ 568	$ 268
Interest Rate Cap \| Not Designated as Hedging Instrument, Economic Hedge [Member]
Derivative [Line Items]
Unrealized Gain (Loss) on Derivatives	5
Interest Rate Cap \| Electric Operating Revenues [Member] \| Not Designated as Hedging Instrument, Economic Hedge [Member]
Derivative [Line Items]
Unrealized Gain (Loss) on Derivatives	2
Interest Rate Cap \| Interest Expense \| Not Designated as Hedging Instrument, Economic Hedge [Member]
Derivative [Line Items]
Unrealized Gain (Loss) on Derivatives	$ 3

Income Taxes - Schedule of Carryforwards and Corresponding Valuation Allowances (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Internal Revenue Service (IRS) [Member] \| General Business Tax Credit Carryforward [Member]
Operating Loss Carryforwards [Line Items]
Federal general business credits carryforwards(a)	$ 468
Internal Revenue Service (IRS) [Member] \| General Business Tax Credit Carryforward [Member] \| PECO Energy Co [Member]
Operating Loss Carryforwards [Line Items]
Federal general business credits carryforwards(a)	0
Internal Revenue Service (IRS) [Member] \| General Business Tax Credit Carryforward [Member] \| Baltimore Gas and Electric Company [Member]
Operating Loss Carryforwards [Line Items]
Federal general business credits carryforwards(a)	0
Internal Revenue Service (IRS) [Member] \| General Business Tax Credit Carryforward [Member] \| Pepco Holdings LLC [Member]
Operating Loss Carryforwards [Line Items]
Federal general business credits carryforwards(a)	0
Internal Revenue Service (IRS) [Member] \| General Business Tax Credit Carryforward [Member] \| Potomac Electric Power Company [Member]
Operating Loss Carryforwards [Line Items]
Federal general business credits carryforwards(a)	0
Internal Revenue Service (IRS) [Member] \| General Business Tax Credit Carryforward [Member] \| Delmarva Power & Light Company [Member]
Operating Loss Carryforwards [Line Items]
Federal general business credits carryforwards(a)	0
Internal Revenue Service (IRS) [Member] \| General Business Tax Credit Carryforward [Member] \| Atlantic City Electric Company [Member]
Operating Loss Carryforwards [Line Items]
Federal general business credits carryforwards(a)	0
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
State net operating loss carryforwards	4,991
Deferred taxes on state tax attributes (net of federal taxes)	307
Valuation allowance on state tax attributes (net of federal taxes)(b)	$ 57
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2035
State and Local Jurisdiction [Member] \| PECO Energy Co [Member]
Operating Loss Carryforwards [Line Items]
State net operating loss carryforwards	$ 970
Deferred taxes on state tax attributes (net of federal taxes)	37
Valuation allowance on state tax attributes (net of federal taxes)(b)	$ 4
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2032
State and Local Jurisdiction [Member] \| Baltimore Gas and Electric Company [Member]
Operating Loss Carryforwards [Line Items]
State net operating loss carryforwards	$ 1,142
Deferred taxes on state tax attributes (net of federal taxes)	72
Valuation allowance on state tax attributes (net of federal taxes)(b)	$ 0
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2033
State and Local Jurisdiction [Member] \| Pepco Holdings LLC [Member]
Operating Loss Carryforwards [Line Items]
State net operating loss carryforwards	$ 1,501
Deferred taxes on state tax attributes (net of federal taxes)	104
Valuation allowance on state tax attributes (net of federal taxes)(b)	$ 33
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2029
State and Local Jurisdiction [Member] \| Potomac Electric Power Company [Member]
Operating Loss Carryforwards [Line Items]
State net operating loss carryforwards	$ 50
Deferred taxes on state tax attributes (net of federal taxes)	3
Valuation allowance on state tax attributes (net of federal taxes)(b)	0
State and Local Jurisdiction [Member] \| Delmarva Power & Light Company [Member]
Operating Loss Carryforwards [Line Items]
State net operating loss carryforwards	768
Deferred taxes on state tax attributes (net of federal taxes)	52
Valuation allowance on state tax attributes (net of federal taxes)(b)	$ 32
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2032
State and Local Jurisdiction [Member] \| Atlantic City Electric Company [Member]
Operating Loss Carryforwards [Line Items]
State net operating loss carryforwards	$ 651
Deferred taxes on state tax attributes (net of federal taxes)	46
Valuation allowance on state tax attributes (net of federal taxes)(b)	$ 0
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2031

Schedule I - Condensed Financial Information of Parent (Exelon Corporate) - Condensed Statements of Operations and Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Expenses [Abstract]
Total operating expenses	$ 15,761	$ 15,256	$ 14,485
Operating Loss	3,315	2,682	2,191
Other income and (deductions)
Interest Expense, net	(1,422)	(1,264)	(1,282)
Other, net	535	261	208
Total other income	(912)	(1,028)	(1,099)
Income taxes	349	38	(7)
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	2,054	1,616	1,099
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	117	213	855
Net income (loss)	2,171	1,829	1,954
Other comprehensive income (loss), net of income taxes
Prior service benefit reclassified to periodic cost	(1)	(4)	(40)
Actuarial loss reclassified to periodic cost	42	223	190
Pension and non-pension postretirement benefit plan valuation adjustment	46	432	(357)
Unrealized (loss) gain on cash flow hedges	2	(1)	(3)
Other comprehensive income (loss)	89	650	(206)
Comprehensive Income	2,259	2,356	1,757
Corporate, Non-Segment [Member]
Operating Expenses [Abstract]
Operating and maintenance	25	(9)	(2)
Operating and maintenance from affiliates	4	14	10
Other	2	2	2
Total operating expenses	31	7	10
Operating Loss	(31)	(7)	(10)
Other income and (deductions)
Interest Expense, net	(413)	(333)	(378)
Equity in earnings of unconsolidated affiliates	2,450	1,908	1,482
Interest income from affiliates, net	5	0	1
Other, net	22	0	15
Total other income	2,064	1,575	1,120
Income before income taxes	2,033	1,568	1,110
Income taxes	(21)	(48)	11
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	2,054	1,616	1,099
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	116	90	864
Net income (loss)	2,170	1,706	1,963
Other comprehensive income (loss), net of income taxes
Prior service benefit reclassified to periodic cost	(1)	(4)	(40)
Actuarial loss reclassified to periodic cost	42	223	190
Pension and non-pension postretirement benefit plan valuation adjustment	46	431	(357)
Unrealized (loss) gain on cash flow hedges	2	0	(1)
Other comprehensive income (loss)	89	650	(208)
Comprehensive Income	$ 2,259	$ 2,356	$ 1,755

Consolidated Balance Sheets - USD ($)
$ in Millions

Dec. 31, 2022

Dec. 31, 2021

$ 407

$ 672

566

321

2,544

2,189

(327)

(320)

2,217

1,869

1,426

1,068

(82)

(72)

1,344

996

208

105

547

476

1,641

1,296

Currents assets of discontinued operations

406

387

7,835

7,336

13,957

15,930

14,430

69,076

64,558

8,037

8,224

Goodwill

6,630

2,897

232

250

Property, plant, and equipment, deferred debits, and other assets of discontinued operations

1,141

885

38,509

18,937

54,498

95,349

133,013

2,586

1,248

1,802

2,153

3,382

2,379

1,226

1,137

Mark-to-market derivative liabilities, current

437

376

Unamortized energy contract liabilities, current

Current liabilities of discontinued operations

1,155

766

7,940

10,611

16,111

Long-term debt to financing trusts

35,272

30,749

390

Deferred income taxes and unamortized investment tax credits

11,250

10,611

9,112

9,628

269

271

Pension obligations

1,109

2,051

Mark-to-market derivative liabilities, noncurrent

507

811

201

Unamortized energy contract liabilities, noncurrent

146

Long-term debt, deferred credits, and other liabilities of discontinued operations

1,967

1,573

25,676

24,332

50,968

70,605

98,218

Common Stock, No Par Value

$ 0

2,000,000,000

994,000,000

979,000,000

$ 20,908

$ 20,324

Treasury Stock, Shares

2,000,000

Treasury stock, at cost

$ (123)

Accumulated other comprehensive loss, net

4,597

16,942

(638)

(2,750)

24,744

34,393

Noncontrolling interests

402

Total equity

24,744

34,795

Commonwealth Edison Co [Member]

95,349

133,013

131

327

210

558

647

(59)

(73)

499

574

441

227

(17)

424

210

Inventories, net

196

170

775

335

2,383

1,722

6,673

6,099

27,513

25,995

Receivable from affiliates, noncurrent

2,667

1,870

Goodwill

2,625

2,761

2,660

1,206

1,086

601

405

9,765

8,753

39,661

36,470

577

1,010

647

415

384

121

108

Mark-to-market derivative liabilities, current

226

185

191

133

2,606

1,587

Long-term debt to financing trusts

10,518

9,773

205

Deferred income taxes and unamortized investment tax credits

5,021

4,685

6,913

6,759

148

144

Mark-to-market derivative liabilities, noncurrent

165

169

201

642

592

12,968

12,550

26,297

24,115

$ 12.50

250,000,000

127,000,000

$ 1,588

2,030

1,691

Other paid-in capital

9,746

9,076

13,364

12,355

39,661

36,470

PECO Energy Co [Member]

635

489

(105)

530

384

153

116

(9)

(7)

144

109

1,015

711

4,078

3,964

12,125

11,117

Receivable from affiliates, noncurrent

652

943

597

237

413

386

1,362

1,996

14,502

13,824

239

350

668

494

142

136

1,311

1,227

Long-term debt to financing trusts

4,562

3,847

184

Deferred income taxes and unamortized investment tax credits

2,213

2,421

270

635

286

2,882

3,454

8,939

8,712

Common Stock, No Par Value

$ 0

500,000,000

170,000,000

$ 3,702

$ 3,428

1,861

1,684

5,563

5,112

Baltimore Gas and Electric Company [Member]

14,502

13,824

617

436

(54)

(38)

563

398

132

124

(10)

(9)

122

115

Prepaid utility taxes

177

215

1,150

936

4,583

4,299

11,338

10,577

527

477

291

276

862

811

13,350

12,324

408

130

300

250

462

349

159

176

105

1,575

1,124

3,907

3,711

Deferred income taxes and unamortized investment tax credits

1,832

1,686

816

934

166

175

2,932

2,919

8,414

7,754

Common Stock, No Par Value

$ 0

1,500

1,000

^[1]

$ 2,861

$ 2,575

2,075

1,995

4,936

4,570

Pepco Holdings LLC [Member]

13,350

12,324

198

136

175

734

616

(109)

(104)

625

512

300

283

(46)

(39)

254

244

236

209

455

432

2,059

1,692

2,618

2,108

17,686

16,498

1,610

1,794

Goodwill

4,005

138

145

353

344

231

266

6,337

6,554

26,082

24,744

414

468

591

399

771

578

260

281

Borrowings from Exelon/PHI intercompany money pool

104

Unamortized energy contract liabilities, current

Contractual Obligation

330

171

2,737

2,246

7,529

7,148

Deferred income taxes and unamortized investment tax credits

2,895

2,675

1,011

1,238

Unamortized energy contract liabilities, noncurrent

146

536

570

4,586

4,765

14,852

14,159

(352)

(210)

Membership interest

11,582

10,795

Total member’s equity

11,230

10,585

Total equity

11,230

10,585

Potomac Electric Power Company [Member]

26,082

24,744

351

277

(47)

(37)

304

240

180

160

(25)

(16)

155

144

Inventories, net

135

119

235

213

981

809

4,067

3,875

8,794

8,104

437

532

119

120

273

279

882

990

10,657

9,903

299

175

313

382

272

125

160

Merger related obligation

1,008

1,110

3,747

3,132

Deferred income taxes and unamortized investment tax credits

1,382

1,275

455

549

244

314

2,120

2,186

6,875

6,428

$ 0.01

200,000,000

100

^[2]

$ 2,767

$ 2,302

1,015

1,173

3,782

3,475

Delmarva Power & Light Company [Member]

10,657

9,903

121

204

149

(21)

(18)

183

131

(7)

(8)

Prepaid utility taxes

573

422

1,772

1,635

4,820

4,560

202

212

153

157

409

430

5,802

5,412

115

149

584

172

131

136

1,143

548

1,354

1,727

Deferred income taxes and unamortized investment tax credits

869

803

380

441

1,355

1,360

3,852

3,635

$ 2.25

1,000

1,000

^[3]

$ 1,356

$ 1,209

594

568

1,950

1,777

Atlantic City Electric Company [Member]

5,802

5,412

179

190

(41)

(49)

138

141

(14)

(15)

Inventories, net

130

443

333

1,551

1,420

3,990

3,729

494

430

546

494

4,979

4,556

144

206

165

Contractual Obligation

474

445

1,754

1,579

Deferred income taxes and unamortized investment tax credits

734

682

156

214

100

998

957

3,226

2,981

$ 3.00

25,000,000

9,000,000

$ 1,765

$ 1,590

(12)

(15)

1,753

1,575

Derivative Instruments and Hedging Activities Disclosure [Abstract]

$ 4,979

$ 4,556

[1]	In millions, shares round to zero. Number of shares is 1,500 authorized and 1,000 outstanding as of December 31, 2022 and 2021.
[2]	In millions, shares round to zero. Number of shares is 100 outstanding as of December 31, 2022 and 2021.
[3]	In millions, shares round to zero. Number of shares is 1,000 authorized and 1,000 outstanding as of December 31, 2022 and 2021.

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Interest Rate Derivatives

Below is a summary of the interest rate hedge balances as of December 31, 2022. Exelon had no interest rate hedge activity in 2021.


December 31, 2022	Derivatives Designated as Hedging Instruments		Economic Hedges		Total

Other deferred debits (noncurrent assets)	$	6	$	5	$	11
Total derivative assets	6		5		11
Mark-to-market derivative liabilities (current liabilities)	—		(3)		(3)
Mark-to-market derivative liabilities (noncurrent liabilities)	(4)		—		(4)
Total mark-to-market derivative liabilities	(4)		(3)		(7)
Total mark-to-market derivative net assets	$	2	$	2	$	4

Derivative Instruments, Gain (Loss)


	Loss
Income Statement Location	2022
Electric operating revenues	$	2
Interest expense	3
Total	$	5

Commitments and Contingencies (All Registrants)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies (All Registrants)

Commitments

PHI Merger Commitments (Exelon, PHI, Pepco, DPL, and ACE). Approval of the PHI Merger in Delaware, New Jersey, Maryland, and the District of Columbia was conditioned upon Exelon and PHI agreeing to certain commitments. The following amounts represent total commitment costs that have been recorded since the acquisition date and the total remaining obligations for Exelon, PHI, Pepco, DPL, and ACE as of December 31, 2022:


Description	Exelon		PHI		Pepco		DPL		ACE
Total commitments	$	513	$	320	$	120	$	89	$	111
Remaining commitments(a)	52		45		39		4		2

__________

(a)Remaining commitments extend through 2026 and include rate credits, energy efficiency programs, and delivery system modernization.

In addition, DPL has committed to conducting three RFPs to procure up to a total of 120 MWs of wind RECs for the purpose of meeting Delaware's renewable portfolio standards. DPL has completed the three required wind REC RFPs. The first 40 MW wind REC tranche was conducted in 2017 and did not result in a purchase agreement. The second 40 MW wind REC tranche was conducted in 2018 and resulted in a proposed REC purchase agreement that was approved by the DEPSC in 2019. The third and final 40 MW wind REC tranche was conducted in 2022 and did not result in a purchase agreement. On December 14, 2022, the DEPSC issued an order recognizing DPL’s completion of all obligations under this merger commitment.

Commercial Commitments (All Registrants). The Registrants' commercial commitments as of December 31, 2022, representing commitments potentially triggered by future events were as follows:


			Expiration within
Exelon	Total		2023		2024		2025		2026		2027		2028 and beyond
Letters of credit	$	19	$	17	$	2	$	—	$	—	$	—	$	—
Surety bonds(a)	205		203		2		—		—		—		—
Financing trust guarantees	378		—		—		—		—		—		378
Guaranteed lease residual values(b)	29		—		6		6		5		4		8
Total commercial commitments	$	631	$	220	$	10	$	6	$	5	$	4	$	386






ComEd
Letters of credit	$	12	$	10	$	2	$	—	$	—	$	—	$	—
Surety bonds(a)	46		44		2		—		—		—		—
Financing trust guarantees	200		—		—		—		—		—		200
Total commercial commitments	$	258	$	54	$	4	$	—	$	—	$	—	$	200

PECO
Letters of credit	$	1	$	1	$	—	$	—	$	—	$	—	$	—
Surety bonds(a)	2		2		—		—		—		—		—
Financing trust guarantees	178		—		—		—		—		—		178
Total commercial commitments	$	181	$	3	$	—	$	—	$	—	$	—	$	178

BGE
Letters of credit	$	2	$	2	$	—	$	—	$	—	$	—	$	—
Surety bonds(a)	2		2		—		—		—		—		—
Total commercial commitments	$	4	$	4	$	—	$	—	$	—	$	—	$	—

PHI

Surety bonds(a)	$	96	$	96	$	—	$	—	$	—	$	—	$	—
Guaranteed lease residual values(b)	29		—		6		6		5		4		8
Total commercial commitments	$	125	$	96	$	6	$	6	$	5	$	4	$	8

Pepco

Surety bonds(a)	$	84	$	84	$	—	$	—	$	—	$	—	$	—
Guaranteed lease residual values(b)	10		—		2		2		2		1		3
Total commercial commitments	$	94	$	84	$	2	$	2	$	2	$	1	$	3

DPL

Surety bonds(a)	$	7	$	7	$	—	$	—	$	—	$	—	$	—
Guaranteed lease residual values(b)	12		—		3		2		2		2		3
Total commercial commitments	$	19	$	7	$	3	$	2	$	2	$	2	$	3

ACE
Surety bonds(a)	$	5	$	5	$	—	$	—	$	—	$	—	$	—
Guaranteed lease residual values(b)	7		—		1		2		1		1		2
Total commercial commitments	$	12	$	5	$	1	$	2	$	1	$	1	$	2

__________

(a)Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds.

(b)Represents the maximum potential obligation in the event that the fair value of certain leased equipment and fleet vehicles is zero at the end of the maximum lease term. The lease term associated with these assets ranges from 1 to 8 years. The maximum potential obligation at the end of the minimum lease term would be $68 million guaranteed by Exelon and PHI, of which $22 million, $28 million, and $18 million is guaranteed by Pepco, DPL, and ACE, respectively. Historically, payments under the guarantees have not been made and PHI believes the likelihood of payments being required under the guarantees is remote.

Environmental Remediation Matters

General (All Registrants). The Registrants’ operations have in the past, and may in the future, require substantial expenditures to comply with environmental laws. Additionally, under federal and state environmental laws, the Registrants are generally liable for the costs of remediating environmental contamination of property now or formerly owned by them and of property contaminated by hazardous substances generated by them. The Registrants own or lease a number of real estate parcels, including parcels on which their operations or the operations of others may have resulted in contamination by substances that are considered hazardous under environmental laws. In addition, the Registrants are currently involved in a number of proceedings relating to sites where hazardous substances have been deposited and may be subject to additional proceedings in the future. Unless otherwise disclosed, the Registrants cannot reasonably estimate whether they will incur significant liabilities for additional investigation and remediation costs at these or additional sites identified by the Registrants, environmental agencies or others, or whether such costs will be recoverable from third parties, including customers. Additional costs could have a material, unfavorable impact on the Registrants' financial statements.

MGP Sites (All Registrants). ComEd, PECO, BGE, and DPL have identified sites where former MGP or gas purification activities have or may have resulted in actual site contamination. For some sites, there are additional PRPs that may share responsibility for the ultimate remediation of each location.

•ComEd has 20 sites that are currently under some degree of active study and/or remediation. ComEd expects the majority of the remediation at these sites to continue through at least 2031.

•PECO has 6 sites that are currently under some degree of active study and/or remediation. PECO expects the majority of the remediation at these sites to continue through at least 2024.

•BGE has 4 sites that currently require some level of remediation and/or ongoing activity. BGE expects the majority of the remediation at these sites to continue through at least 2025.

•DPL has 1 site that is currently under study and the required cost at the site is not expected to be material.

The historical nature of the MGP and gas purification sites and the fact that many of the sites have been buried and built over, impacts the ability to determine a precise estimate of the ultimate costs prior to initial sampling and determination of the exact scope and method of remedial activity. Management determines its best estimate of remediation costs using all available information at the time of each study, including probabilistic and deterministic modeling for ComEd and PECO, and the remediation standards currently required by the applicable state environmental agency. Prior to completion of any significant clean up, each site remediation plan is approved by the appropriate state environmental agency.

ComEd, pursuant to an ICC order, and PECO, pursuant to a PAPUC order, are currently recovering environmental remediation costs of former MGP facility sites through customer rates. While BGE and DPL do not have riders for MGP clean-up costs, they have historically received recovery of actual clean-up costs in distribution rates.

In 2022, ComEd and PECO completed an annual study of their future estimated MGP remediation requirements. The study resulted in a $60 million increase to the environmental liability and related regulatory asset for ComEd. The increase was primarily due to increased costs due to inflation and changes in remediation plans. The study did not result in a material change to the environmental liability for PECO.

As of December 31, 2022 and 2021, the Registrants had accrued the following undiscounted amounts for environmental liabilities in Accrued expenses, Other current liabilities, and Other deferred credits and other liabilities in their respective Consolidated Balance Sheets:


	December 31, 2022				December 31, 2021
	Total environmental investigation and remediation liabilities		Portion of total related to MGP investigation and remediation		Total environmental investigation and remediation liabilities		Portion of total related to MGP investigation and remediation
Exelon	$	409	$	355	$	352	$	303
ComEd	325		324		279		279
PECO	25		23		22		20
BGE	9		8		6		4
PHI	46		—		42		—
Pepco	44		—		40		—
DPL	1		—		1		—
ACE	1		—		1		—

Benning Road Site (Exelon, PHI, and Pepco). In September 2010, PHI received a letter from EPA identifying the Benning Road site as one of six land-based sites potentially contributing to contamination of the lower Anacostia River. A portion of the site, which is owned by Pepco, was formerly the location of an electric generating facility owned by Pepco subsidiary, Pepco Energy Services (PES), which became a part of Generation, following the 2016 merger between PHI and Exelon. This generating facility was deactivated in June 2012. The remaining portion of the site consists of a Pepco transmission and distribution service center that remains in operation. In December 2011, the U.S. District Court for the District of Columbia approved a Consent Decree entered into by Pepco and Pepco Energy Services (hereinafter "Pepco Entities") with the DOEE, which requires the Pepco Entities to conduct a Remedial Investigation and Feasibility Study (RI/FS) for the Benning Road site and an approximately 10 to 15-acre portion of the adjacent Anacostia River. The purpose of this RI/FS is to define the nature and extent of contamination from the Benning Road site and to evaluate remedial alternatives.

Pursuant to an internal agreement between the Pepco Entities, since 2013, Pepco has performed the work required by the Consent Decree and has been reimbursed for that work by an agreed upon allocation of costs between the Pepco Entities. In September 2019, the Pepco Entities issued a draft “final” RI report which DOEE approved on February 3, 2020. The Pepco Entities are completing a FS to evaluate possible remedial alternatives for submission to DOEE. In October, 2022, DOEE approved dividing the work to complete the landside portion of the FS from the waterside portion to expedite the overall schedule for completion of the project. After completion and approval of the landside FS, now scheduled for September 2023, DOEE will prepare a Proposed Plan for public comment and then issue a Record of Decision (ROD) identifying any further response actions determined to be necessary to address any landside issues. The DOEE will issue a separate ROD for the waterside FS when that work is completed which is now anticipated to be by March 31, 2024.

As part of the separation between Exelon and Constellation in February 2022, the internal agreement between the Pepco Entities for completion and payment for the remaining Consent Decree work was memorialized in a formal agreement for post-separation activities. A second post-separation assumption agreement between Exelon and Constellation transferred any of the potential remaining remediation liability, if any, of PES/Generation to a non-utility subsidiary of Exelon which going forward will be responsible for those liabilities. Exelon, PHI, and Pepco have determined that a loss associated with this matter is probable and have accrued an estimated liability, which is included in the table above.

Anacostia River Tidal Reach (Exelon, PHI, and Pepco). Contemporaneous with the Benning Road site RI/FS being performed by the Pepco Entities, DOEE and NPS have been conducting a separate RI/FS focused on the entire tidal reach of the Anacostia River extending from just north of the Maryland-District of Columbia boundary line to the confluence of the Anacostia and Potomac Rivers. The river-wide RI incorporated the results of the river sampling performed by the Pepco Entities as part of the Benning RI/FS, as well as similar sampling efforts conducted by owners of other sites adjacent to this segment of the river and supplemental river sampling conducted by DOEE’s contractor.

On September 30, 2020, DOEE released its Interim ROD. The Interim ROD reflects an adaptive management approach which will require several identified “hot spots” in the river to be addressed first while continuing to conduct studies and to monitor the river to evaluate improvements and determine potential future remediation plans. The adaptive management process chosen by DOEE is less intrusive, provides more long-term environmental certainty, is less costly, and allows for site specific remediation plans already underway, including the plan for the Benning Road site to proceed to conclusion.

On July 15, 2022, Pepco received a letter from the District of Columbia's Office of the Attorney General (D.C. OAG) on behalf of DOEE conveying a settlement offer to resolve all PRPs' liability to the District of Columbia (District) for their past costs and their anticipated future costs to complete the work for the Interim ROD. Pepco responded on July 27, 2022 to enter into settlement discussions. Since that time Exelon and the other PRP’s at the site have exchanged letters with the D.C. OAG exploring potential settlement options. Those discussions are ongoing. Exelon, PHI, and Pepco have determined that it is probable that costs for remediation will be incurred and have accrued a liability for management's best estimate of its share of the costs. Pepco concluded that incremental exposure remains reasonably possible, but management cannot reasonably estimate a range of loss beyond the amounts recorded, which are included in the table above.

In addition to the activities associated with the remedial process outlined above, CERCLA separately requires federal and state (here including Washington, D.C.) Natural Resource Trustees (federal or state agencies designated by the President or the relevant state, respectively, or Indian tribes) to conduct an assessment of any damages to natural resources within their jurisdiction as a result of the contamination that is being remediated. The Trustees can seek compensation from responsible parties for such damages, including restoration costs. During the second quarter of 2018, Pepco became aware that the Trustees are in the beginning stages of a Natural Resources Damages (NRD) assessment, a process that often takes many years beyond the remedial decision to complete. Pepco has entered into negotiations with the Trustees to evaluate possible incorporation of NRD assessment and restoration as part of its remedial activities associated with the Benning site to accelerate the NRD benefits for that portion of the Anacostia River Sediment Project (ARSP) assessment. Pepco has concluded that a loss associated with the eventual NRD assessment is reasonably possible. Due to the very early stage of the assessment process, Pepco cannot reasonably estimate the final range of loss potentially resulting from this process.

As noted in the Benning Road Site disclosure above, as part of the separation of Exelon and Constellation in February 2022, an assumption agreement was executed transferring any potential future remediation liabilities associated with the Benning Site remediation to a non-utility subsidiary of Exelon. Similarly, any potential future liability associated with the ARSP was also assumed by this entity.

Buzzard Point Site (Exelon, PHI, and Pepco). On December 8, 2022, Pepco received a letter from the D.C. OAG, alleging wholly past violations of the District's stormwater discharge and waste disposal requirements related to operations at the Buzzard Point facility, a 9-acre parcel of waterfront property in Washington, D.C. occupied by an active substation and former steam plant building. The letter also alleged wholly past violations by Pepco of stormwater discharge requirements related to its district-wide system of underground vaults. The D.C. OAG invited Pepco to resolve the threatened enforcement action through a court-approved consent decree, and Pepco is engaged in discussions with the D.C. OAG regarding a potential resolution. Exelon, PHI, and Pepco have determined that a loss associated with this matter is probable and have accrued an estimated liability. Due to the very early stage of the assessment process, Pepco concluded that incremental exposure is reasonably possible, but the range of loss cannot be reasonably estimated beyond the amounts included in the table above.

Litigation and Regulatory Matters

Fund Transfer Restrictions (All Registrants). Under applicable law, Exelon may borrow or receive an extension of credit from its subsidiaries. Under the terms of Exelon’s intercompany money pool agreement, Exelon can lend to, but not borrow from the money pool.

Under applicable law, ComEd, PECO, BGE, PHI, Pepco, DPL, and ACE can pay dividends only from retained, undistributed or current earnings. A significant loss recorded at ComEd, PECO, BGE, PHI, Pepco, DPL, or ACE may limit the dividends that these companies can distribute to Exelon.

ComEd has agreed in connection with financings arranged through ComEd Financing III that it will not declare dividends on any shares of its capital stock in the event that: (1) it exercises its right to extend the interest payment periods on the subordinated debt securities issued to ComEd Financing III; (2) it defaults on its guarantee of the payment of distributions on the preferred trust securities of ComEd Financing III; or (3) an event of default occurs under the Indenture under which the subordinated debt securities are issued. No such event has occurred.

PECO has agreed in connection with financings arranged through PEC L.P. and PECO Trust IV that PECO will not declare dividends on any shares of its capital stock in the event that: (1) it exercises its right to extend the interest payment periods on the subordinated debentures, which were issued to PEC L.P. or PECO Trust IV; (2) it defaults on its guarantee of the payment of distributions on the Series D Preferred Securities of PEC L.P. or the preferred trust securities of PECO Trust IV; or (3) an event of default occurs under the Indenture under which the subordinated debentures are issued. No such event has occurred.

BGE is subject to restrictions established by the MDPSC that prohibit BGE from paying a dividend on its common shares if (a) after the dividend payment, BGE’s equity ratio would be below 48% as calculated pursuant to the MDPSC’s ratemaking precedents or (b) BGE’s senior unsecured credit rating is rated by two of the three major credit rating agencies below investment grade. No such event has occurred.

Pepco is subject to certain dividend restrictions established by settlements approved by the MDPSC and DCPSC that prohibit Pepco from paying a dividend on its common shares if (a) after the dividend payment, Pepco's equity ratio would be 48% as calculated pursuant to the MDPSC's and DCPSC's ratemaking precedents, of or (b) Pepco’s senior unsecured credit rating is rated by one of the three major credit rating agencies below investment grade. No such event has occurred.

DPL is subject to certain dividend restrictions established by settlements approved by the DEPSC and MDPSC that prohibit DPL from paying a dividend on its common shares if (a) after the dividend payment, DPL's equity ratio would be 48% as calculated pursuant to the DCPSC's and MDPSC's ratemaking precedents, or (b) DPL’s corporate issuer or senior unsecured credit rating, or its equivalent, is rated by any of the three major credit rating agencies below the generally accepted definition of investment grade. No such event has occurred.

ACE is subject to certain dividend restrictions established by settlements approved by the NJBPU that prohibit ACE from paying a dividend on its common shares if (a) after the dividend payment, ACE's common equity ratio would be 48% as calculated pursuant to the NJBPU's ratemaking precedents, or (b) ACE's senior corporate issuer or senior unsecured credit rating is rated by one of the three major credit rating agencies below investment grade. ACE is also subject to a dividend restriction which requires ACE to notify and obtain the prior approval of the NJBPU before dividends can be paid if its equity as a percent of its total capitalization, excluding securitization debt, falls below 30%. No such events have occurred.

DPA and Related Matters (Exelon and ComEd). Exelon and ComEd received a grand jury subpoena in the second quarter of 2019 from the U.S. Attorney’s Office for the Northern District of Illinois (USAO) requiring production of information concerning their lobbying activities in the State of Illinois. On October 4, 2019, Exelon and ComEd received a second grand jury subpoena from the USAO requiring production of records of any communications with certain individuals and entities. On October 22, 2019, the SEC notified Exelon and ComEd that it had also opened an investigation into their lobbying activities. On July 17, 2020, ComEd entered into a DPA with the USAO to resolve the USAO investigation. Under the DPA, the USAO filed a single charge alleging that ComEd improperly gave and offered to give jobs, vendor subcontracts, and payments associated with those jobs and subcontracts for the benefit of the former Speaker of the Illinois House of Representatives and the Speaker’s associates, with the intent to influence the Speaker’s action regarding legislation affecting ComEd’s interests. The DPA provides that the USAO will defer any prosecution of such charge and any other criminal or civil case against ComEd in connection with the matters identified therein for a three-year period subject to certain obligations of ComEd, including payment to the U.S. Treasury of $200 million, which was paid in November 2020. Exelon was not made a party to the DPA, and therefore the investigation by the USAO into Exelon’s activities ended with no charges being brought against Exelon. The SEC’s investigation remains ongoing and Exelon and ComEd have cooperated fully and intend to continue to cooperate fully with the SEC. Exelon and ComEd cannot predict the outcome of the SEC investigation. No loss contingency has been reflected in Exelon's and ComEd's consolidated financial statements with respect to the SEC investigation, as this contingency is neither probable nor reasonably estimable at this time.

Subsequent to Exelon announcing the receipt of the subpoenas, various lawsuits were filed, and various demand letters were received related to the subject of the subpoenas, the conduct described in the DPA and the SEC's investigation, including:

•Four putative class action lawsuits against ComEd and Exelon were filed in federal court on behalf of ComEd customers in the third quarter of 2020 alleging, among other things, civil violations of federal racketeering laws. In addition, the Citizens Utility Board (CUB) filed a motion to intervene in these cases on October 22, 2020 which was granted on December 23, 2020. On December 2, 2020, the court appointed interim lead plaintiffs in the federal cases which consisted of counsel for three of the four federal cases. These plaintiffs filed a consolidated complaint on January 5, 2021. CUB also filed its own complaint against ComEd only on the same day. The remaining federal case, Potter, et al. v. Exelon et al, differed from the other lawsuits as it named additional individual defendants not named in the consolidated complaint. However, the Potter plaintiffs voluntarily dismissed their complaint without prejudice on April 5, 2021. ComEd and Exelon moved to dismiss the consolidated class action complaint and CUB’s complaint on February 4, 2021 and briefing was completed on March 22, 2021. On March 25, 2021, the parties agreed, along with state court plaintiffs, discussed below, to jointly engage in mediation. The parties participated in a one-day mediation on June 7, 2021 but no settlement was reached. On September 9, 2021, the federal court granted Exelon’s and ComEd’s motion to dismiss and dismissed the plaintiffs’ and CUB’s federal law claim with prejudice. The federal court also dismissed the related state law claims made by the federal plaintiffs and CUB on jurisdictional grounds. Plaintiffs appealed dismissal of the federal law claim to the Seventh Circuit Court of Appeals. Plaintiffs and CUB also refiled their state law claims in state court and moved to consolidate them with the already pending consumer state court class action, discussed below. On August 22, 2022, the Seventh Circuit affirmed the dismissal of the consolidated federal cases in their entirety. The time to further appeal has passed and the Seventh Circuit’s decision is final.

•Three putative class action lawsuits against ComEd and Exelon were filed in Illinois state court in the third quarter of 2020 seeking restitution and compensatory damages on behalf of ComEd customers. The cases were consolidated into a single action in October of 2020. In November 2020, CUB filed a motion to intervene in the cases pursuant to an Illinois statute allowing CUB to intervene as a party or otherwise participate on behalf of utility consumers in any proceeding which affects the interest of utility consumers. On November 23, 2020, the court allowed CUB’s intervention, but denied CUB's request to stay these cases. Plaintiffs subsequently filed a consolidated complaint, and ComEd and Exelon filed a motion to dismiss on jurisdictional and substantive grounds on January 11, 2021. Briefing on that motion was completed on March 2, 2021. The parties agreed, on March 25, 2021, along with the federal court plaintiffs discussed above, to jointly engage in mediation. The parties participated in a one-day mediation on June 7, 2021 but no settlement was reached. On December 23, 2021, the state court granted ComEd and Exelon’s motion to dismiss with prejudice. On December 30, 2021, plaintiffs filed a motion to reconsider that dismissal and for permission to amend their complaint. The court denied the plaintiffs' motion on January 21, 2022. Plaintiffs have appealed the court's ruling dismissing their complaint to the First District Court of Appeals. On February 15, 2022, Exelon and ComEd moved to dismiss the federal plaintiffs' refiled state law claims, seeking dismissal on the same legal grounds asserted in their motion to dismiss the original state court plaintiffs' complaint. The court granted dismissal of the refiled state claims on February 16, 2022. The original federal plaintiffs appealed that dismissal on February 18, 2022. The two state appeals were consolidated on March 21, 2022. Plaintiffs' opening appellate brief was filed on August 5, 2022. Exelon and ComEd's response was filed on November 18, 2022. Plaintiffs filed their reply brief on January 13, 2023.

•On November 3, 2022, a plaintiff filed a complaint with the Lake County, Illinois Circuit Court against ComEd and Exelon for unjust enrichment and deceptive business practices in connection with the conduct giving rise to the DPA. Plaintiff seeks an accounting and disgorgement of any benefits ComEd allegedly obtained from said conduct. ComEd and Exelon filed a motion to dismiss the Complaint on February 3, 2023. Plaintiff’s response is due March 3, 2023, and ComEd and Exelon’s reply is due March 24, 2023. Oral argument on the motion to dismiss is currently set for April 21, 2023. Plaintiffs served initial discovery requests on ComEd in December 2022, to which ComEd has responded.

•A putative class action lawsuit against Exelon and certain officers of Exelon and ComEd was filed in federal court in December 2019 alleging misrepresentations and omissions in Exelon’s SEC filings related to ComEd’s lobbying activities and the related investigations. The complaint was amended on

September 16, 2020, to dismiss two of the original defendants and add other defendants, including ComEd. Defendants filed a motion to dismiss in November 2020. The court denied the motion in April 2021. On May 26, 2021, defendants moved the court to certify its order denying the motion to dismiss for interlocutory appeal. Briefing on the motion was completed in June 2021. That motion was denied on January 28, 2022. In May 2021, the parties each filed respective initial discovery disclosures. On June 9, 2021, defendants filed their answer and affirmative defenses to the complaint and the parties engaged thereafter in discovery. On September 9, 2021, the U.S. government moved to intervene in the lawsuit and stay discovery until the parties entered into an amendment to their protective order that would prohibit the parties from requesting discovery into certain matters, including communications with the U.S. government. The court ordered said amendment to the protective order on November 15, 2021 and discovery resumed. The court further amended the protective order on October 17, 2022 and extended it until May 15, 2023. The next court status is set for May 8, 2023. Discovery remains ongoing.

•Several shareholders have sent letters to the Exelon Board of Directors from 2020 through May 2022 demanding, among other things, that the Exelon Board of Directors investigate and address alleged breaches of fiduciary duties and other alleged violations by Exelon and ComEd officers and directors related to the conduct described in the DPA. In the first quarter of 2021, the Exelon Board of Directors appointed a Special Litigation Committee (SLC) consisting of disinterested and independent parties to investigate and address these shareholders' allegations and make recommendations to the Exelon Board of Directors based on the outcome of the SLC's investigation. In July 2021, one of the demand letter shareholders filed a derivative action against current and former Exelon and ComEd officers and directors, and against Exelon, as nominal defendant, asserting the same claims made in its demand letter. On October 12, 2021, the parties to the derivative action filed an agreed motion to stay that litigation for 120 days in order to allow the SLC to continue its investigation, which the court granted. The stay has been extended, by agreement of the parties several times and is currently in effect until March 17, 2023. The Parties have scheduled a mediation of this action for February 2023.

•Two separate shareholder requests seeking review of certain Exelon books and records were received in August 2021 and January 2022. Exelon responded to both requests and both shareholders have since sent formal shareholder demands to the Exelon Board, as discussed above.

No loss contingencies have been reflected in Exelon’s and ComEd’s consolidated financial statements with respect to these matters, as such contingencies are neither probable nor reasonably estimable at this time.

In August 2022, the ICC concluded its investigation initiated on August 12, 2021 into rate impacts of conduct admitted in the DPA, including the costs recovered from customers related to the DPA and Exelon's funding of the fine paid by ComEd. On August 17, 2022, the ICC issued its final order accepting ComEd's voluntary customer refund offer of approximately $38 million (of which about $31 million is ICC jurisdictional; the remaining balance is FERC jurisdictional) that resolves the question of whether customer funds were used for DPA related activities. The customer refund includes the cost of every individual or entity that was either (i) identified in the DPA or (ii) identified by ComEd as an associate of the former Speaker of the Illinois House of Representatives in the ICC proceeding. The ICC rejected an argument by the Illinois Attorney General, City of Chicago, and CUB that a costly permanent adjustment also needed to be made to ComEd's ratemaking capital structure on account of Exelon having funded ComEd's payment of the DPA fine with an equity infusion. On October 6, the ICC denied the application for rehearing filed by the Illinois Attorney General, City of Chicago, and CUB that specifically focused on their capital structure argument. The window to file an appeal on the ICC final order has expired and the ICC’s DPA investigation is now closed. An accrual for the amount of the voluntary customer refund has been recorded in Regulatory liabilities and Regulatory assets in Exelon’s and ComEd’s Consolidated Balance Sheets as of December 31, 2022. The ICC jurisdictional refund must be made in April 2023; the FERC jurisdictional refund will be made as part of the next transmission formula rate update proceeding in 2023. The customer refund will not be recovered in rates or charged to customers and ComEd will not seek or accept reimbursement or indemnification from any source other than Exelon.

Savings Plan Claim (Exelon). On December 6, 2021, seven current and former employees filed a putative ERISA class action suit in U.S. District Court for the Northern District of Illinois against Exelon, its Board of Directors, the former Board Investment Oversight Committee, the Corporate Investment Committee, individual defendants, and other unnamed fiduciaries of the Exelon Corporation Employee Savings Plan (Plan). The complaint alleges that the defendants violated their fiduciary duties under the Plan by including certain investment options that allegedly were more expensive than and underperformed similar passively-managed or

other funds available in the marketplace and permitting a third-party administrative service provider/recordkeeper and an investment adviser to charge excessive fees for the services provided. The plaintiffs seek declaratory, equitable and monetary relief on behalf of the Plan and participants. On February 16, 2022, the court granted the parties' stipulated dismissal of the individual named defendants without prejudice. The remaining defendants filed a motion to dismiss the complaint on February 25, 2022. On March 4, 2022, the Chamber of Commerce filed a brief of amicus curiae in support of the defendants' motion to dismiss. On September 22, 2022, the court granted Exelon’s motion to dismiss without prejudice. The court granted plaintiffs leave until October 31, 2022 to file an amended complaint, which was later extended to November 30, 2022. Plaintiffs filed their amended complaint on November 30, 2022. Defendants filed their motion to dismiss the amended complaint on January 20, 2023. Plaintiffs' response is due February 17, 2023, and defendants' reply is due February 24, 2023. No loss contingencies have been reflected in Exelon’s consolidated financial statements with respect to this matter, as such contingencies are neither probable nor reasonably estimable at this time.

General (All Registrants). The Registrants are involved in various other litigation matters that are being defended and handled in the ordinary course of business. The Registrants are also from time to time subject to audits and investigations by the FERC and other regulators. The assessment of whether a loss is probable or reasonably possible, and whether the loss or a range of loss is estimable, often involves a series of complex judgments about future events. The Registrants maintain accruals for such losses that are probable of being incurred and subject to reasonable estimation. Management is sometimes unable to estimate an amount or range of reasonably possible loss, particularly where (1) the damages sought are indeterminate, (2) the proceedings are in the early stages, or (3) the matters involve novel or unsettled legal theories. In such cases, there is considerable uncertainty regarding the timing or ultimate resolution of such matters, including a possible eventual loss.

Discontinued Operations and Disposal Groups (Details) - USD ($) $ in Millions	11 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Sep. 30, 2022	Feb. 01, 2022	Jan. 31, 2022
Business Dispositions [Line Items]
Discontinued Operation, Intra-Entity Amounts, Discontinued Operation after Disposal, Expense	$ 266
Exelon Generation Co L L C [Member]
Business Dispositions [Line Items]
Discontinued Operation, Intra-Entity Amounts, Discontinued Operation after Disposal, Expense	43
Net Assets				$ (11,573)
Corporate, Non-Segment [Member]
Business Dispositions [Line Items]
Common Stock, Shares, Issued				326,663,937
Separation Cash Payment					$ 1,750
Proceeds from Sale and Collection of Notes Receivable		$ 258
Corporate, Non-Segment [Member] \| ShortTermDebtSOFRplus075Jan2023
Business Dispositions [Line Items]
Short-Term Loans	1,150	1,150	$ 1,150
Corporate, Non-Segment [Member] \| SMBCTermLoanJuly2023 \| Notes Payable to Banks
Business Dispositions [Line Items]
Debt Instrument, Face Amount	300	300
Corporate, Non-Segment [Member] \| USBTermLoanJuly2023 \| Notes Payable to Banks
Business Dispositions [Line Items]
Debt Instrument, Face Amount	300	300
Corporate, Non-Segment [Member] \| PNCTermLoanJuly2023 \| Notes Payable to Banks
Business Dispositions [Line Items]
Debt Instrument, Face Amount	$ 250	$ 250

Segment Information - Narrative (Details)	12 Months Ended
Segment Information - Narrative (Details)	Dec. 31, 2022 Reportable_segment
Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Number of reportable segments	3
Exelon Consolidation
Segment Reporting Information [Line Items]
Number of reportable segments	6

Income Taxes - Components of Income Tax Expense (Benefit) from Continuing Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Income taxes	$ 349	$ 38	$ (7)
Commonwealth Edison Co [Member]
Income Taxes [Line Items]
Income taxes	264	172	177
PECO Energy Co [Member]
Income Taxes [Line Items]
Income taxes	79	12	(30)
Baltimore Gas and Electric Company [Member]
Income Taxes [Line Items]
Income taxes	8	(35)	41
Pepco Holdings LLC [Member]
Income Taxes [Line Items]
Income taxes	9	42	(77)
Potomac Electric Power Company [Member]
Income Taxes [Line Items]
Income taxes	(9)	15	(7)
Delmarva Power & Light Company [Member]
Income Taxes [Line Items]
Income taxes	14	42	(25)
Atlantic City Electric Company [Member]
Income Taxes [Line Items]
Income taxes	3	(13)	(41)
Internal Revenue Service (IRS) [Member]
Income Taxes [Line Items]
Current	(24)	(152)	(180)
Deferred	106	89	10
Investment Tax Credit	(3)	(2)	(3)
Internal Revenue Service (IRS) [Member] \| Commonwealth Edison Co [Member]
Income Taxes [Line Items]
Current	29	(30)	(24)
Deferred	117	113	112
Investment Tax Credit	(1)	(1)	(2)
Internal Revenue Service (IRS) [Member] \| PECO Energy Co [Member]
Income Taxes [Line Items]
Current	13	1	(7)
Deferred	18	20	1
Investment Tax Credit	0	0	0
Internal Revenue Service (IRS) [Member] \| Baltimore Gas and Electric Company [Member]
Income Taxes [Line Items]
Current	(1)	(18)	4
Deferred	(3)	34	10
Investment Tax Credit	0	0	0
Internal Revenue Service (IRS) [Member] \| Pepco Holdings LLC [Member]
Income Taxes [Line Items]
Current	16	18	25
Deferred	(23)	(52)	(129)
Investment Tax Credit	(1)	(1)	(1)
Internal Revenue Service (IRS) [Member] \| Potomac Electric Power Company [Member]
Income Taxes [Line Items]
Current	9	22	40
Deferred	(2)	(17)	(62)
Investment Tax Credit	0	0	0
Internal Revenue Service (IRS) [Member] \| Delmarva Power & Light Company [Member]
Income Taxes [Line Items]
Current	(2)	2	(13)
Deferred	2	(14)	(20)
Investment Tax Credit	0	0	0
Internal Revenue Service (IRS) [Member] \| Atlantic City Electric Company [Member]
Income Taxes [Line Items]
Current	6	1	(4)
Deferred	(15)	(26)	(43)
Investment Tax Credit	0	0	0
State and Local Jurisdiction [Member]
Income Taxes [Line Items]
Current	(13)	(46)	(37)
Deferred	283	149	203
State and Local Jurisdiction [Member] \| Commonwealth Edison Co [Member]
Income Taxes [Line Items]
Current	(6)	(41)	(27)
Deferred	125	131	118
State and Local Jurisdiction [Member] \| PECO Energy Co [Member]
Income Taxes [Line Items]
Current	(4)	0	0
Deferred	52	(9)	(24)
State and Local Jurisdiction [Member] \| Baltimore Gas and Electric Company [Member]
Income Taxes [Line Items]
Current	0	0	0
Deferred	12	(51)	27
State and Local Jurisdiction [Member] \| Pepco Holdings LLC [Member]
Income Taxes [Line Items]
Current	2	0	(5)
Deferred	15	77	33
State and Local Jurisdiction [Member] \| Potomac Electric Power Company [Member]
Income Taxes [Line Items]
Current	0	1	0
Deferred	(16)	9	15
State and Local Jurisdiction [Member] \| Delmarva Power & Light Company [Member]
Income Taxes [Line Items]
Current	0	1	0
Deferred	14	53	8
State and Local Jurisdiction [Member] \| Atlantic City Electric Company [Member]
Income Taxes [Line Items]
Current	0	0	0
Deferred	$ 12	$ 12	$ 6

Regulatory Matters- Narrative (Details) $ in Millions			12 Months Ended	36 Months Ended	48 Months Ended				72 Months Ended
Regulatory Matters- Narrative (Details) $ in Millions	Sep. 27, 2022	Feb. 03, 2022	Dec. 31, 2022 USD ($)	Dec. 31, 2025 USD ($)	Jun. 30, 2027 USD ($)	Dec. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jul. 10, 2023 USD ($)	Mar. 31, 2022 USD ($)	Jul. 09, 2021 USD ($)	Jul. 02, 2021 USD ($)
Commonwealth Edison Co [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Maximum increase of revenue requirement			105.00%
Beneficial electrification planned expenditure				$ 300
Basis points for ComEd's Electric Distribution rates		580
Basis Points - ComEd Symmetrical Performance Adjustments	32
Commonwealth Edison Co [Member] \| Carbon Mitigation Credit Rider
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Assets			$ 117
Baltimore Gas and Electric Company [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Maryland Relief Act Funds												$ 50
Potomac Electric Power Company [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Maryland Relief Act Funds												$ 12
Potomac Electric Power Company [Member] \| Forecast [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Proposed Capital Expenditure									$ 500
Delmarva Power & Light Company [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Maryland Relief Act Funds											$ 8
Atlantic City Electric Company [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Proposed Capital Expenditure						$ 220
Contract Termination Liability			137					$ 137		$ 203
Gain (Loss) on Contract Termination			66
Atlantic City Electric Company [Member] \| Forecast [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Proposed Capital Expenditure								338
Public Utilities, Approved Rate Increase (Decrease), Amount							$ 96
Approved Capital Expenditure IIP 2.0					$ 379
Other Current Liabilities [Member] \| Atlantic City Electric Company [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Contract Termination Liability			87					87
Other Noncurrent Liabilities [Member] \| Atlantic City Electric Company [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Contract Termination Liability			$ 50					$ 50

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Mar. 24, 2016	Oct. 20, 2000
Goodwill [Line Items]
Goodwill, Additions	$ 0	$ 0
Goodwill Impairment Loss	0	0
Goodwill	6,630	6,630
Commonwealth Edison Co [Member]
Goodwill [Line Items]
Goodwill	2,625	2,625		$ 2,600
Pepco Holdings LLC [Member]
Goodwill [Line Items]
Goodwill	$ 4,005	$ 4,005	$ 4,000
Potomac Electric Power Company [Member]
Goodwill [Line Items]
Goodwill			2,100
Delmarva Power & Light Company [Member]
Goodwill [Line Items]
Goodwill			1,400
Atlantic City Electric Company [Member]
Goodwill [Line Items]
Goodwill			$ 500

Defined Benefit Plan Change In Benefit Obligation RollForward

Asset Retirement Obligations - Non-Nuclear Asset Retirement Obligations Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Accretion expense	$ 44	$ 514	$ 500
Commonwealth Edison Co [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Accretion expense	0	0	0
PECO Energy Co [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Accretion expense	0	0	0
Baltimore Gas and Electric Company [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Accretion expense	0	0	0
Pepco Holdings LLC [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Accretion expense	0	0	0
Potomac Electric Power Company [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Accretion expense	0	0	0
Delmarva Power & Light Company [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Accretion expense	0	0	0
Atlantic City Electric Company [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Accretion expense	0	0	0
Nonnuclear Decommissioning Asset Retirement Obligation [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
ARO beginning balance	274	249
Asset Retirement Obligation, Revision of Estimate	(8)	26
Accretion expense	8	7
Payments	(3)	(8)
ARO ending balance	271	274	249
Nonnuclear Decommissioning Asset Retirement Obligation [Member] \| Commonwealth Edison Co [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
ARO beginning balance	146	129
Asset Retirement Obligation, Revision of Estimate	2	15
Accretion expense	4	4
Payments	(2)	(2)
ARO ending balance	150	146	129
Nonnuclear Decommissioning Asset Retirement Obligation [Member] \| PECO Energy Co [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
ARO beginning balance	29	29
Asset Retirement Obligation, Revision of Estimate	(1)	0
Accretion expense	1	1
Payments	(1)	(1)
ARO ending balance	28	29	29
Nonnuclear Decommissioning Asset Retirement Obligation [Member] \| Baltimore Gas and Electric Company [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
ARO beginning balance	26	23
Asset Retirement Obligation, Revision of Estimate	3	2
Accretion expense	1	1
Payments	0	0
ARO ending balance	30	26	23
Nonnuclear Decommissioning Asset Retirement Obligation [Member] \| Pepco Holdings LLC [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
ARO beginning balance	70	59
Asset Retirement Obligation, Revision of Estimate	(13)	10
Accretion expense	2	1
Payments	0	0
ARO ending balance	59	70	59
Nonnuclear Decommissioning Asset Retirement Obligation [Member] \| Potomac Electric Power Company [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
ARO beginning balance	45	39
Asset Retirement Obligation, Revision of Estimate	(8)	5
Accretion expense	2	1
Payments	0	0
ARO ending balance	39	45	39
Nonnuclear Decommissioning Asset Retirement Obligation [Member] \| Delmarva Power & Light Company [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
ARO beginning balance	16	14
Asset Retirement Obligation, Revision of Estimate	(3)	2
Accretion expense	0	0
Payments	0	0
ARO ending balance	13	16	14
Nonnuclear Decommissioning Asset Retirement Obligation [Member] \| Atlantic City Electric Company [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
ARO beginning balance	9	6
Asset Retirement Obligation, Revision of Estimate	(2)	3
Accretion expense	0	0
Payments	0	0
ARO ending balance	$ 7	$ 9	$ 6

Regulatory Matters - Annual Electric Transmission Filings (Details) - USD ($) $ in Millions	May 27, 2022	May 13, 2022	Apr. 29, 2022	Apr. 27, 2022
Commonwealth Edison Co [Member] \| 2022 Transmission Formula Rate Annual Update [Domain]
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount			$ 24
Annual Reconciliation Increase (Decrease)			(24)
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount			$ 0
Public Utilities, Approved Equity Capital Structure, Percentage			8.11%
Public Utilities, Approved Return on Equity, Percentage			11.50%
Cap on Equity Component of Rate of Return on Common Equity in Federal Energy Regulatory Committee Complaint			55.00%
Basis points for Transmission Formula Rate			50
PECO Energy Co [Member] \| 2022 Transmission Formula Rate Annual Update [Domain]
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount	$ 23
Annual Reconciliation Increase (Decrease)	16
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount	$ 39
Public Utilities, Approved Equity Capital Structure, Percentage	7.30%
Public Utilities, Approved Return on Equity, Percentage	10.35%
Cap on Equity Component of Rate of Return on Common Equity in Federal Energy Regulatory Committee Complaint	55.75%
Basis points for Transmission Formula Rate	50
Baltimore Gas and Electric Company [Member] \| 2022 Transmission Formula Rate Annual Update [Domain]
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount				$ 25
Annual Reconciliation Increase (Decrease)				(4)
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount				$ 16
Public Utilities, Approved Equity Capital Structure, Percentage				7.30%
Public Utilities, Approved Return on Equity, Percentage				10.50%
Basis points for Transmission Formula Rate				50
Baltimore Gas and Electric Company [Member] \| 2022 Transmission Formula Rate Revenue Reduction
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount				$ 5
Potomac Electric Power Company [Member] \| 2022 Transmission Formula Rate Annual Update [Domain]
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount		$ 16
Annual Reconciliation Increase (Decrease)		15
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount		$ 31
Public Utilities, Approved Equity Capital Structure, Percentage		7.60%
Public Utilities, Approved Return on Equity, Percentage		10.50%
Basis points for Transmission Formula Rate		50
Delmarva Power & Light Company [Member] \| 2022 Transmission Formula Rate Annual Update [Domain]
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount		$ 9
Annual Reconciliation Increase (Decrease)		2
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount		$ 11
Public Utilities, Approved Equity Capital Structure, Percentage		7.09%
Public Utilities, Approved Return on Equity, Percentage		10.50%
Basis points for Transmission Formula Rate		50
Atlantic City Electric Company [Member] \| 2022 Transmission Formula Rate Annual Update [Domain]
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount		$ 21
Annual Reconciliation Increase (Decrease)		13
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount		$ 34
Public Utilities, Approved Equity Capital Structure, Percentage		7.18%
Public Utilities, Approved Return on Equity, Percentage		10.50%
Basis points for Transmission Formula Rate		50

Discontinued Operations (Details) - Cash Flow - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Dispositions [Line Items]
Depreciation, Amortization and Accretion, Net	$ 3,533	$ 7,573	$ 6,527
Asset Impairment Charges	48
Gain (Loss) on Sale of Assets and Asset Impairment Charges	8	201	24
Deferred Income Taxes and Tax Credits	255	18	309
Unrealized Gain (Loss) on Derivatives	53	568	268
Gain (Loss) on Investments	(205)	586	461
Other non-cash operating activities	(370)	200	(592)
Payments to Acquire Property, Plant, and Equipment	7,147	7,981	8,048
Collection of deferred purchase price	169	3,902	3,771
Increase (decrease) in capital expenditures not paid	36	16	194
Increase in Deferred Purchase Price	348	3,652	4,441
Increase (decrease) in PPE related to ARO update	332	642	850
Exelon Generation Co L L C [Member]
Business Dispositions [Line Items]
Depreciation, Amortization and Accretion, Net	207	4,540	3,636
Asset Impairment Charges	0	545	563
Gain (Loss) on Sale of Assets and Asset Impairment Charges	9	(201)	(11)
Deferred Income Taxes and Tax Credits	(143)	(224)	94
Unrealized Gain (Loss) on Derivatives	(59)	(568)	(270)
Gain (Loss) on Investments	205	(586)	(461)
Net unrealized losses (gains) on equity investments	16	160	(186)
Other non-cash operating activities	36	(946)	(659)
Payments to Acquire Property, Plant, and Equipment	(227)	(1,341)	(1,759)
Collection of deferred purchase price	169	3,902	3,771
Increase (decrease) in capital expenditures not paid	(128)	96	(88)
Increase in Deferred Purchase Price	348	3,652	4,441
Increase (decrease) in PPE related to ARO update	$ 335	$ 618	$ 850

Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

The following tables provide a rollforward of the changes in the benefit obligations and plan assets of Exelon for the most recent two years for all plans combined:


	Pension Benefits				OPEB
	2022		2021		2022		2021
Change in benefit obligation:
Net benefit obligation as of the beginning of year	$	14,236	$	14,861	$	2,502	$	2,661
Service cost	236		294		41		51
Interest cost	439		406		76		69
Plan participants’ contributions	—		—		26		32
Actuarial (gain) loss(a)	(3,379)		(442)		(604)		(116)



Settlements	—		(23)		—		(5)

Gross benefits paid	(855)		(860)		(157)		(190)
Net benefit obligation as of the end of year	$	10,677	$	14,236	$	1,884	$	2,502


	Pension Benefits				OPEB
	2022		2021		2022		2021
Change in plan assets:
Fair value of net plan assets as of the beginning of year	$	12,165	$	11,883	$	1,665	$	1,635
Actual return on plan assets	(2,359)		822		(225)		130
Employer contributions	570		343		42		63
Plan participants’ contributions	—		—		26		32
Gross benefits paid	(855)		(860)		(157)		(190)

Settlements	—		(23)		—		(5)
Fair value of net plan assets as of the end of year	$	9,521	$	12,165	$	1,351	$	1,665

__________

(a)The pension and OPEB gains in 2022 and 2021 primarily reflect an increase in the discount rate.

Schedule of Amounts Recognized in Balance Sheet

Exelon presents its benefit obligations and plan assets net on its Consolidated Balance Sheets within the following line items:


	Pension Benefits				OPEB
	2022		2021		2022		2021
Other current liabilities	$	47	$	20	$	26	$	26
Pension obligations	1,109		2,051		—		—
Non-pension postretirement benefit obligations	—		—		507		811
Unfunded status (net benefit obligation less plan assets)	$	1,156	$	2,071	$	533	$	837

Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets

The following table provides the ABO and fair value of plan assets for all pension plans with an ABO in excess of plan assets. Information for pension and OPEB plans with projected benefit obligations (PBO) and accumulated postretirement benefit obligation (APBO), respectively, in excess of plan assets has been disclosed in the Obligations and Plan Assets table above as all pension and OPEB plans are underfunded.


	Exelon
ABO in Excess of Plan Assets	2022		2021

ABO	$	10,108	$	13,497
Fair value of net plan assets	9,427		12,165

Calculation of Net Periodic Benefit Costs

The following table presents the components of Exelon’s net periodic benefit costs, prior to capitalization, for the years ended December 31, 2022, 2021, and 2020.


	Pension Benefits						OPEB
	2022		2021		2020		2022		2021		2020
Components of net periodic benefit cost:
Service cost	$	236	$	294	$	251	$	41	$	51	$	56
Interest cost	439		406		476		76		69		93
Expected return on assets	(822)		(843)		(796)		(99)		(99)		(101)
Amortization of:
Prior service cost (credit)	2		2		3		(19)		(25)		(76)
Actuarial loss	295		399		349		12		27		34
Curtailment benefits	—		—		—		—		—		(1)
Settlement and other charges	—		7		6		—		1		1

Net periodic benefit cost	$	150	$	265	$	289	$	11	$	24	$	6

Schedule Of Pension And Other Postretirement Benefit Costs

The amounts below represent the Registrants' allocated pension and OPEB costs. For Exelon, the service cost component is included in Operating and maintenance expense and Property, plant, and equipment, net while the non-service cost components are included in Other, net and Regulatory assets. For the Utility Registrants, the service cost and non-service cost components are included in Operating and maintenance expense and Property, plant, and equipment, net in their consolidated financial statements.


For the Years Ended December 31,	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
2022	$	161	$	60	$	(9)	$	44	$	53	$	9	$	3	$	12
2021	288		129		8		64		49		6		2		11
2020	296		114		5		64		70		15		7		14

Changes In Plan Assets And Benefit Obligations Recognized In OCI And Regulatory Assets

The following tables provide the components of AOCI and regulatory assets (liabilities) for Exelon for the years ended December 31, 2022, 2021, and 2020 for all plans combined. The tables include amounts related to Generation prior to the separation.


	Pension Benefits						OPEB
	2022		2021		2020		2022		2021		2020
Changes in plan assets and benefit obligations recognized in AOCI and regulatory assets (liabilities):
Current year actuarial (gain) loss	$	(226)	$	(700)	$	941	$	(271)	$	(270)	$	22
Amortization of actuarial loss	(295)		(598)		(512)		(12)		(37)		(49)
Separation of Constellation	(2,631)		—		—		(43)		—		—
Current year prior service cost (credit)	—		—		—		—		—		(111)
Amortization of prior service (cost) credit	(2)		(3)		(4)		19		34		124


Curtailments	—		—		—		—		—		1
Settlements	—		(27)		(14)		—		(1)		(1)

Total recognized in AOCI and regulatory assets (liabilities)	$	(3,154)	$	(1,328)	$	411	$	(307)	$	(274)	$	(14)

Total recognized in AOCI	$	(2,719)	$	(747)	$	271	$	(74)	$	(130)	$	6
Total recognized in regulatory assets (liabilities)	$	(435)	$	(581)	$	140	$	(233)	$	(144)	$	(20)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

The following table provides the components of gross accumulated other comprehensive loss and regulatory assets (liabilities) for Exelon that have not been recognized as components of periodic benefit cost as of December 31, 2022 and 2021, respectively, for all plans combined:


	Pension Benefits				OPEB
	2022		2021		2022		2021
Prior service cost (credit)	$	19	$	32	$	(55)	$	(111)
Actuarial loss (gain)	3,611		6,752		(133)		230
Total	$	3,630	$	6,784	$	(188)	$	119

Total included in AOCI	$	873	$	3,592	$	(21)	$	53
Total included in regulatory assets (liabilities)	$	2,757	$	3,192	$	(167)	$	66

Defined Benefit Plan Weighted Average Assumptions Used In Calculating Benefit Obligation

For Exelon, the following assumptions were used to determine the benefit obligations for the plans as of December 31, 2022 and 2021. Assumptions used to determine year-end benefit obligations are the assumptions used to estimate the subsequent year’s net periodic benefit costs.


	Pension Benefits				OPEB
	2022		2021		2022		2021
Discount rate(a)	5.53	%	2.92	%	5.51	%	2.88	%
Investment crediting rate(b)	5.07	%	3.75	%	N/A		N/A
Rate of compensation increase	3.75	%	3.75	%	3.75	%	3.75	%
Mortality table	Pri-2012 table with MP- 2021 improvement scale (adjusted)		Pri-2012 table with MP- 2021 improvement scale (adjusted)		Pri-2012 table with MP- 2021 improvement scale (adjusted)		Pri-2012 table with MP- 2021 improvement scale (adjusted)
Health care cost trend on covered charges	N/A		N/A		Initial and ultimate rate of 5.00%		Initial and ultimate trend of 5.00%

__________

(a)The discount rates above represent the blended rates used to determine the majority of Exelon’s pension and OPEB obligations. Certain benefit plans used individual rates, which range from 5.46% - 5.60% and 5.49% - 5.51% for pension and OPEB plans, respectively, as of December 31, 2022 and 2.55% - 3.02% and 2.84% - 2.92% for pension and OPEB plans, respectively, as of December 31, 2021.

(b)The investment crediting rate above represents a weighted average rate.

Defined Benefit Plan Weighted Average Assumptions Used In Calculating Net Periodic Benefit Cost

The following assumptions were used to determine the net periodic benefit cost for Exelon for the years ended December 31, 2022, 2021 and 2020:


	Pension Benefits						OPEB
	2022		2021		2020		2022		2021		2020
Discount rate(a)	3.24	%	2.58	%	3.34	%	3.20	%	2.51	%	3.31	%
Investment crediting rate(b)	3.75	%	3.72	%	3.82	%	N/A		N/A		N/A
Expected return on plan assets(c)	7.00	%	7.00	%	7.00	%	6.44	%	6.46	%	6.69	%
Rate of compensation increase	3.75	%	3.75	%	3.75	%	3.75	%	3.75	%	3.75	%
Mortality table	Pri-2012 table with MP- 2021 improvement scale (adjusted)		Pri-2012 table with MP - 2020 improvement scale (adjusted)		Pri-2012 table with MP - 2019 improvement scale (adjusted)		Pri-2012 table with MP- 2021 improvement scale (adjusted)		Pri-2012 table with MP - 2020 improvement scale (adjusted)		Pri-2012 table with MP - 2019 improvement scale (adjusted)
Health care cost trend on covered charges	N/A		N/A		N/A		Initial and ultimate rate of 5.00%		Initial and ultimate rate of 5.00%		Initial and ultimate rate of 5.00%

__________

(a)The discount rates above represent the blended rates used to establish the majority of Exelon’s pension and OPEB costs. Certain benefit plans used individual rates, which range from 2.55%-3.24% and 2.84%-3.20% for pension and OPEB plans, respectively, for the year ended December 31, 2022; 2.11%-2.73% and 2.45%-2.63% for pension and OPEB plans; respectively, for the year ended December 31, 2021; and 3.02%-3.44% and 3.27%-3.40% for pension and OPEB plans, respectively, for the year ended December 31, 2020.

(b)The investment crediting rate above represents a weighted average rate.

(c)Not applicable to pension and OPEB plans that do not have plan assets.

Pension And Other Postretirement Benefit Contributions

The following tables provide contributions to the pension and OPEB plans:


	Pension Benefits						OPEB
	2022		2021		2020		2022		2021		2020
Exelon	$	570	$	343	$	306	$	42	$	63	$	40
ComEd	176		174		143		8		22		5
PECO	15		17		18		3		1		—
BGE	48		57		56		20		24		22
PHI	69		39		30		9		9		9
Pepco	3		2		2		8		9		9
DPL	1		1		—		—		—		—
ACE	7		3		2		—		—		—

The following table provides all Registrants' planned contributions to the qualified pension plans, planned benefit payments to non-qualified pension plans, and planned contributions to OPEB plans in 2023:


	Qualified Pension Plans		Non-Qualified Pension Plans		OPEB
Exelon	$	20	$	48	$	47
ComEd	20		3		19
PECO	—		1		—
BGE	—		1		15
PHI	—		9		11
Pepco	—		1		11
DPL	—		—		—
ACE	—		—		—

Schedule of Expected Benefit Payments

Estimated future benefit payments to participants in all of the pension plans and postretirement benefit plans as of December 31, 2022 were:


	Pension Benefits		OPEB
2023	$	805	$	152
2024	775		152
2025	789		152
2026	790		152
2027	798		153
2028 through 2032	3,983		744
Total estimated future benefits payments through 2032	$	7,940	$	1,505

Defined Benefit Plan Weighted Average Asset Allocations And Target Allocations

Exelon’s pension and OPEB plan target asset allocations as of December 31, 2022 and 2021 were as follows:


	December 31, 2022				December 31, 2021
Asset Category	Pension Benefits		OPEB		Pension Benefits		OPEB
Equity securities	28	%	44	%	35	%	44	%
Fixed income securities	44	%	41	%	41	%	41	%
Alternative investments(a)	28	%	15	%	24	%	15	%
Total	100	%	100	%	100	%	100	%

__________

(a)Alternative investments include private equity, hedge funds, real estate, and private credit.

Defined Benefit Plan Fair Value Of Plan Assets

The following tables present pension and OPEB plan assets measured and recorded at fair value in Exelon's Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy as of December 31, 2022 and 2021:


	December 31, 2022										December 31, 2021
	Level 1		Level 2		Level 3		Not subject to leveling		Total		Level 1		Level 2		Level 3		Not subject to leveling		Total
Pension plan assets(a)
Cash and cash equivalents	$	200	$	—	$	—	$	—	$	200	$	260	$	91	$	—	$	—	$	351



Equities(b)	1,448		—		—		782		2,230		2,699		—		2		1,273		3,974
Fixed income:
U.S. Treasury and agencies	986		178		—		—		1,164		1,002		176		—		—		1,178
State and municipal debt	—		44		—		—		44		—		47		—		—		47
Corporate debt(c)	—		1,975		12		—		1,987		—		2,523		325		—		2,848
Other(b)	—		63		—		744		807		43		161		12		301		517



Fixed income subtotal	986		2,260		12		744		4,002		1,045		2,907		337		301		4,590
Private equity	—		—		—		1,169		1,169		—		—		—		1,124		1,124
Hedge funds	—		—		—		760		760		—		—		—		774		774

Real estate	—		—		—		821		821		—		—		—		760		760
Private credit	—		—		—		658		658		—		—		130		603		733
Pension plan assets subtotal	2,634		2,260		12		4,934		9,840		4,004		2,998		469		4,835		12,306

OPEB plan assets(a)
Cash and cash equivalents	39		—		—		—		39		54		41		—		—		95
Equities	305		1		—		273		579		387		2		—		324		713
Fixed income:
U.S. Treasury and agencies	17		45		—		—		62		14		44		—		—		58
State and municipal debt	—		8		—		—		8		—		7		—		—		7
Corporate debt(c)	—		44		—		—		44		—		74		—		—		74
Other	161		5		—		187		353		223		4		—		136		363
Fixed income subtotal	178		102		—		187		467		237		129		—		136		502

Hedge funds	—		—		—		120		120		—		—		—		175		175
Real estate	—		—		—		106		106		—		—		—		86		86
Private credit	—		—		—		39		39		—		—		—		84		84
OPEB plan assets subtotal	522		103		—		725		1,350		678		172		—		805		1,655
Total pension and OPEB plan assets(d)	$	3,156	$	2,363	$	12	$	5,659	$	11,190	$	4,682	$	3,170	$	469	$	5,640	$	13,961

__________

(a)See Note 17—Fair Value of Financial Assets and Liabilities for a description of levels within the fair value hierarchy.

(b)Includes derivative instruments of $11 million and $(2) million for the years ended December 31, 2022 and 2021, respectively, which have total notional amounts of $3,434 million and $3,481 million as of December 31, 2022 and 2021, respectively. The notional principal amounts for these instruments provide one measure of the transaction volume outstanding as of the fiscal years ended and do not represent the amount of the company’s exposure to credit or market loss.

(c)Includes investments in equities sold short held in investment vehicles primarily to hedge the equity option component of its convertible debt. Pension equities sold short totaled $(44) million as of December 31, 2021. OPEB equities sold short totaled $(18) million as of December 31, 2021. There were no individually held investments sold short in 2022.

(d)Excludes net liabilities of $318 million and $131 million as of December 31, 2022 and 2021, respectively, which include certain derivative assets that have notional amounts of $69 million and $127 million as of December 31, 2022 and 2021, respectively. These items are required to reconcile to the fair value of net plan assets and consist primarily of receivables or payables related to pending securities sales and purchases, interest and dividends receivable, and repurchase agreement obligations. The repurchase agreements generally have maturities ranging from 3-6 months.

Schedule of Changes in Fair Value of Plan Assets

The following table presents the reconciliation of Level 3 assets and liabilities for Exelon measured at fair value for pension and OPEB plans for the years ended December 31, 2022 and 2021:


	Fixed Income		Equities		Private Credit		Total
Pension Assets
Balance as of January 1, 2022	$	337	$	2	$	130	$	469
Actual return on plan assets:
Relating to assets still held as of the reporting date	(9)		—		(15)		(24)
Relating to assets sold during the period	(19)		—		13		(6)
Purchases, sales and settlements:
Purchases	—		—		7		7

Settlements(a)	(1)		—		(52)		(53)
Transfers out of Level 3(b)	(296)		(2)		(83)		(381)
Balance as of December 31, 2022	$	12	$	—	$	—	$	12


	Fixed Income		Equities		Private Credit		Total
Pension Assets
Balance as of January 1, 2021	$	348	$	1	$	136	$	485
Actual return on plan assets:
Relating to assets still held as of the reporting date	(12)		—		18		6

Purchases, sales and settlements:
Purchases	10		—		5		15

Settlements(a)	(13)		—		(29)		(42)
Transfers into Level 3	4		1		—		5
Balance as of December 31, 2021	$	337	$	2	$	130	$	469

__________

(a)Represents cash settlements only.

(b)In 2022, transfers relate to changes in investment structure for certain investments due to the separation.

Schedule Of Defined Contributions

The Registrants participate in a 401(k) defined contribution savings plan that is sponsored by Exelon. The plan is qualified under applicable sections of the IRC and allows employees to contribute a portion of their pre-tax and/or after-tax income in accordance with specified guidelines. All Registrants match a percentage of the employee contributions up to certain limits. The following table presents the employer contributions and employer matching contributions to the savings plan for the years ended December 31, 2022, 2021, and 2020:


For the Years Ended December 31,	Exelon		ComEd		PECO		BGE		PHI	Pepco		DPL		ACE
2022	$	91	$	39	$	13	$	11	14	$	4	$	3	$	2
2021	90		35		12		12		14	4		3		2
2020	95		36		12		13		14	4		3		3

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2022

Contract Asset/Liabilities [Line Items]

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]


	2023		2024		2025		2026		2027 and thereafter		Total
Exelon	$	8	$	6	$	5	$	5	$	77	$	101
PHI	8		6		5		5		77		101
Pepco	6		5		5		5		60		81
DPL	1		—		—		—		9		10
ACE	1		1		—		—		8		10

Contract Liabilities [Member]

Contract Asset/Liabilities [Line Items]

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]


	Exelon(a)		PHI(a)		Pepco(a)		DPL(a)		ACE(a)



Balance as of December 31, 2020	$	118	$	118	$	94	$	12	$	12

Revenues recognized	(9)		(9)		(7)		(1)		(1)

Balance as of December 31, 2021	109		109		87		11		11

Revenues recognized	(8)		(8)		(6)		(1)		(1)

Balance as of December 31, 2022	$	101	$	101	$	81	$	10	$	10

__________(a)Revenues recognized in the years ended December 31, 2022 and 2021, were included in the contract liabilities at December 31, 2021 and 2020, respectively.

Jointly Owned Electric Utility Plant (Exelon, PECO, DPL and ACE)

12 Months Ended

Dec. 31, 2022

Public Utilities, Property, Plant and Equipment [Abstract]

Jointly Owned Electric Utility Plant (Exelon, PECO, DPL and ACE)

Jointly Owned Electric Utility Plant (Exelon, PECO, PHI, DPL, and ACE)

PECO's, DPL's, and ACE's material undivided ownership interests in jointly owned electric plants and transmission facilities as of December 31, 2022 and 2021 were as follows:


	Transmission
	NJ/DE(a)
Operator	PSEG/DPL
Ownership interest	various
Exelon’s share as of December 31, 2022:
Plant in service	$	103
Accumulated depreciation	56
Exelon’s share as of December 31, 2021:
Plant in service	$	103
Accumulated depreciation	55

__________

PECO's, DPL's, and ACE's undivided ownership interests are financed with their funds and all operations are accounted for as if such participating interests were wholly owned facilities. PECO's, DPL's, and ACE's share of direct expenses of the jointly owned plants are included in Operating and maintenance expenses in Exelon's, PECO's, PHI's, DPL's, and ACE's Consolidated Statements of Operations and Comprehensive Income.

Regulatory Matters - Schedule of Pending Rate Cases (Details) - USD ($) $ in Millions	Jan. 17, 2023	Dec. 15, 2022
Commonwealth Edison Co [Member] \| Illinois 2023 Electric Distribution Base Rate Case
Regulatory Matters Pending Rate Cases [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount	$ 1,472
Commonwealth Edison Co [Member] \| Illinois 2023 Electric Distribution Base Rate Case \| Minimum [Member]
Regulatory Matters Pending Rate Cases [Line Items]
Public Utilities, Requested Return on Equity, Percentage	10.50%
Public Utilities, Requested Equity Capital Structure, Percentage	50.58%
Commonwealth Edison Co [Member] \| Illinois 2023 Electric Distribution Base Rate Case \| Maximum [Member]
Regulatory Matters Pending Rate Cases [Line Items]
Public Utilities, Requested Return on Equity, Percentage	10.65%
Public Utilities, Requested Equity Capital Structure, Percentage	51.19%
Commonwealth Edison Co [Member] \| Illinois 2023 Electric Distribution Base Rate Case \| 2024
Regulatory Matters Pending Rate Cases [Line Items]
Public Utilities, Requested Return on Equity, Percentage	10.50%
Public Utilities, Requested Rate Increase (Decrease), Initial Revenue Requirement, Amount	$ 877
Public Utilities, Requested Equity Capital Structure, Percentage	7.43%
Commonwealth Edison Co [Member] \| Illinois 2023 Electric Distribution Base Rate Case \| 2025
Regulatory Matters Pending Rate Cases [Line Items]
Public Utilities, Requested Return on Equity, Percentage	10.55%
Public Utilities, Requested Rate Increase (Decrease), Initial Revenue Requirement, Amount	$ 175
Public Utilities, Requested Equity Capital Structure, Percentage	7.50%
Commonwealth Edison Co [Member] \| Illinois 2023 Electric Distribution Base Rate Case \| 2026
Regulatory Matters Pending Rate Cases [Line Items]
Public Utilities, Requested Return on Equity, Percentage	10.60%
Public Utilities, Requested Rate Increase (Decrease), Initial Revenue Requirement, Amount	$ 217
Public Utilities, Requested Equity Capital Structure, Percentage	7.62%
Public Utilities, Requested Rate Increase (Decrease), Proposed Revenue Requirement Phase-In	$ 307
Commonwealth Edison Co [Member] \| Illinois 2023 Electric Distribution Base Rate Case \| 2027
Regulatory Matters Pending Rate Cases [Line Items]
Public Utilities, Requested Return on Equity, Percentage	10.65%
Public Utilities, Requested Rate Increase (Decrease), Initial Revenue Requirement, Amount	$ 203
Public Utilities, Requested Equity Capital Structure, Percentage	7.70%
Delmarva Power & Light Company [Member] \| Delaware 2022 Electric Distribution Base Rate Case
Regulatory Matters Pending Rate Cases [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount		$ 60
Public Utilities, Requested Return on Equity, Percentage		10.50%

Lessee - Components of Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Components of Lease Cost [Line Items]
Operating Lease, Cost	$ 66	$ 84	$ 98
Variable Lease, Cost	8	7	7
Total Lease Cost	74	91	105
Sublease Income	4	4	4
Commonwealth Edison Co [Member]
Schedule of Components of Lease Cost [Line Items]
Operating Lease, Cost	2	3	3
Variable Lease, Cost	1	1	1
Total Lease Cost	3	4	4
PECO Energy Co [Member]
Schedule of Components of Lease Cost [Line Items]
Operating Lease, Cost	0	0	1
Variable Lease, Cost	0	0	0
Total Lease Cost	0	0	1
Baltimore Gas and Electric Company [Member]
Schedule of Components of Lease Cost [Line Items]
Operating Lease, Cost	15	30	33
Variable Lease, Cost	0	1	1
Total Lease Cost	15	31	34
Pepco Holdings LLC [Member]
Schedule of Components of Lease Cost [Line Items]
Operating Lease, Cost	42	43	46
Variable Lease, Cost	2	1	2
Total Lease Cost	44	44	48
Finance Lease, Right-of-Use Asset, Amortization	14	11	7
Finance Lease, Interest Expense	4	2	2
Finance Lease, Cost	18	13	9
Potomac Electric Power Company [Member]
Schedule of Components of Lease Cost [Line Items]
Operating Lease, Cost	10	10	11
Variable Lease, Cost	1	0	1
Total Lease Cost	11	10	12
Finance Lease, Right-of-Use Asset, Amortization	5	4	3
Finance Lease, Interest Expense	1	1	0
Finance Lease, Cost	6	5	3
Delmarva Power & Light Company [Member]
Schedule of Components of Lease Cost [Line Items]
Operating Lease, Cost	12	12	13
Variable Lease, Cost	1	0	1
Total Lease Cost	13	12	14
Finance Lease, Right-of-Use Asset, Amortization	6	4	3
Finance Lease, Interest Expense	2	1	1
Finance Lease, Cost	8	5	4
Atlantic City Electric Company [Member]
Schedule of Components of Lease Cost [Line Items]
Operating Lease, Cost	6	6	6
Variable Lease, Cost	1	0	0
Total Lease Cost	7	6	6
Finance Lease, Right-of-Use Asset, Amortization	3	3	2
Finance Lease, Interest Expense	1	0	0
Finance Lease, Cost	$ 4	$ 3	$ 2

Schedule I - Condensed Financial Information of Parent (Exelon Corporate) - Condensed Balance Sheet (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 407	$ 672	$ 432	$ 587
Accounts receivable
Other accounts receivable, net	1,344	996
Regulatory assets, current	1,641	1,296
Other	406	387
Total current assets	7,336	13,957
Property, plant and equipment, net	69,076	64,558
Deferred debits and other assets
Regulatory assets, noncurrent	8,037	8,224
Other	1,141	885
Total deferred debits and other assets	18,937	54,498
Total assets	95,349	133,013
Current liabilities
Short-term borrowings	2,586	1,248
Long-term debt due within one year	1,802	2,153
Accounts payable	3,382	2,379
Accrued expenses	1,226	1,137
Payables to affiliates, current	5	5
Regulatory liabilities, current	437	376
Other	1,155	766
Total current liabilities	10,611	16,111
Long-term debt	35,272	30,749
Deferred credits and other liabilities
Regulatory liabilities, noncurrent	9,112	9,628
Pension obligations	1,109	2,051
Non-pension postretirement benefits obligations	507	811
Other	1,967	1,573
Total deferred credits and other liabilities	24,332	50,968
Total liabilities	70,605	98,218
Commitments and contingencies
Shareholders’ equity
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized	2,000	2,000
Common Stock, Shares, Outstanding	994	979
Common stock	$ 20,908	$ 20,324
Treasury Stock, Shares	2	2
Treasury stock, at cost	$ (123)	$ (123)
Retained earnings	4,597	16,942
Accumulated other comprehensive loss, net	(638)	(2,750)
Total shareholders’ equity	24,744	34,393
Total liabilities and equity	95,349	133,013
Corporate, Non-Segment [Member]
Current assets
Cash and cash equivalents	11	295
Accounts receivable
Other accounts receivable, net	358	318
Accounts receivable from affiliates, current	17	35
Note receivable from affiliates, current	182	217
Regulatory assets, current	154	266
Other	6	41
Total current assets	728	1,172
Property, plant and equipment, net	44	45
Deferred debits and other assets
Regulatory assets, noncurrent	2,650	3,164
Investments in affiliates	35,925	29,563
Amount of investment in equity method investee and investment in and advance to affiliate	0	12,333
Deferred income taxes	929	1,351
Non-pension postretirement benefit asset	187	0
Notes receivable from affiliates, noncurrent	0	319
Other	115	42
Total deferred debits and other assets	39,806	46,772
Total assets	40,578	47,989
Current liabilities
Short-term borrowings	948	650
Long-term debt due within one year	850	1,150
Accounts payable	188	0
Accrued expenses	101	47
Payables to affiliates, current	360	360
Regulatory liabilities, current	12	3
Pension obligations	77	49
Other	7	40
Total current liabilities	2,543	2,299
Long-term debt	8,742	6,265
Deferred credits and other liabilities
Regulatory liabilities, noncurrent	103	63
Pension obligations	3,896	4,416
Non-pension postretirement benefits obligations	0	87
Deferred income taxes	53	362
Other	497	104
Total deferred credits and other liabilities	4,549	5,032
Total liabilities	15,834	13,596
Commitments and contingencies
Shareholders’ equity
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized	2,000	2,000
Common Stock, Shares, Outstanding	994	979
Common stock	$ 20,908	$ 20,324
Treasury Stock, Shares	2	2
Treasury stock, at cost	$ (123)	$ (123)
Retained earnings	4,597	16,942
Accumulated other comprehensive loss, net	(638)	(2,750)
Total shareholders’ equity	24,744	34,393
Total liabilities and equity	$ 40,578	$ 47,989

Commitments and Contingencies - Schedule of Environmental Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	$ 409	$ 352
Commonwealth Edison Co [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	325	279
PECO Energy Co [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	25	22
Baltimore Gas and Electric Company [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	9	6
Pepco Holdings LLC [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	46	42
Potomac Electric Power Company [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	44	40
Delmarva Power & Light Company [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	1	1
Atlantic City Electric Company [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	1	1
Accrual For MGP Investigation And Remediation [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	355	303
Accrual For MGP Investigation And Remediation [Member] \| Commonwealth Edison Co [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	324	279
Accrual For MGP Investigation And Remediation [Member] \| PECO Energy Co [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	23	20
Accrual For MGP Investigation And Remediation [Member] \| Baltimore Gas and Electric Company [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	8	4
Accrual For MGP Investigation And Remediation [Member] \| Pepco Holdings LLC [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	0	0
Accrual For MGP Investigation And Remediation [Member] \| Potomac Electric Power Company [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	0	0
Accrual For MGP Investigation And Remediation [Member] \| Delmarva Power & Light Company [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	0	0
Accrual For MGP Investigation And Remediation [Member] \| Atlantic City Electric Company [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Gross	$ 0	$ 0

Intangible Assets Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) $ in Millions	Dec. 31, 2022 USD ($)
Finite-Lived Intangible Assets [Line Items]
2023	$ (2)
2024	0
2025	(2)
2026	(5)
2027	(4)
Pepco Holdings LLC [Member]
Finite-Lived Intangible Assets [Line Items]
2023	(10)
2024	(8)
2025	(5)
2026	(5)
2027	$ (4)

Retirement Benefits- Narrative (Details) - USD ($) $ in Millions			3 Months Ended	11 Months Ended	12 Months Ended
	Mar. 02, 2022	Feb. 01, 2022	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Increase (Decrease) in Obligation, Pension Benefits			$ 24	$ 921
Benefit obligation increase (decrease) reflecting actual census data			(5)	893
Accumulated Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Tax		$ 1,994	5
Regulatory asset increase (decrease) due to updated valuation adjustment			30	14
Defined benefit plan, amounts increased (decrease) in regulatory liabilities, before tax			$ 3	5
Defined Contribution Plan, Employer Discretionary Contribution Amount					$ 91	$ 90	$ 95
Payment for Pension and Other Postretirement Benefits					616	665	601
Pension Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Tax				(2,631)	(2,631)	0	0
Regulatory asset increase (decrease) due to updated valuation adjustment					$ (435)	$ (581)	$ 140
Expected return on plan assets					7.00%	7.00%	7.00%
Discount rate					3.24%	2.58%	3.34%
Defined Contribution Plan, Employer Discretionary Contribution Amount					$ 20
Payment for Pension and Other Postretirement Benefits	$ 33	$ 207			570	$ 343	$ 306
Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Tax				$ (43)	(43)	0	0
Regulatory asset increase (decrease) due to updated valuation adjustment					$ (233)	$ (144)	$ (20)
Expected return on plan assets					6.44%	6.46%	6.69%
Discount rate					3.20%	2.51%	3.31%
Payment for Pension and Other Postretirement Benefits					$ 42	$ 63	$ 40
Change in Assumptions for Defined Benefit Plans [Member] \| Pension Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected return on plan assets					7.00%
Discount rate					3.24%
Change in Assumptions for Defined Benefit Plans [Member] \| Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected return on plan assets					6.44%
Discount rate					3.20%
Assets [Member] \| Pension Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual Asset Returns					(18.69%)
Assets [Member] \| Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual Asset Returns					(11.36%)
Subsequent Event [Member] \| Pension Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected return on plan assets					7.00%
Subsequent Event [Member] \| Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected return on plan assets					6.50%

Income Taxes - Long-Term Marginal State Income Tax Rate (Details) - State and Local Jurisdiction [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Long-Term Marginal State Income Tax Rate [Line Items]
Increase (Decrease) in Deferred Income Taxes	$ 67	$ 27	$ 66
Increase (Decrease) in Income Taxes	$ 67	$ 27	$ 66

Debt and Credit Agreements - Summary of Credit Facility Agreements at Minority and Community Banks (Details) - Community and Minority Facilities [Member] - Community and Minority Facilities [Member] - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Line of credit facility, current borrowing capacity	$ 140	$ 98
Letters of Credit Outstanding, Amount	10	8
Commonwealth Edison Co [Member]
Short-term Debt [Line Items]
Line of credit facility, current borrowing capacity	40	33
Letters of Credit Outstanding, Amount	7	5
PECO Energy Co [Member]
Short-term Debt [Line Items]
Line of credit facility, current borrowing capacity	40	33
Letters of Credit Outstanding, Amount	1	1
Baltimore Gas and Electric Company [Member]
Short-term Debt [Line Items]
Line of credit facility, current borrowing capacity	15	8
Letters of Credit Outstanding, Amount	2	2
Pepco Holdings LLC [Member]
Short-term Debt [Line Items]
Line of credit facility, current borrowing capacity	45	24
Letters of Credit Outstanding, Amount	0	0
Potomac Electric Power Company [Member]
Short-term Debt [Line Items]
Line of credit facility, current borrowing capacity	15	8
Letters of Credit Outstanding, Amount	0	0
Delmarva Power & Light Company [Member]
Short-term Debt [Line Items]
Line of credit facility, current borrowing capacity	15	8
Letters of Credit Outstanding, Amount	0	0
Atlantic City Electric Company [Member]
Short-term Debt [Line Items]
Line of credit facility, current borrowing capacity	15	8
Letters of Credit Outstanding, Amount	$ 0	$ 0

Shareholders' Equity - Schedule of Common Stock Warrants (Details) - Commonwealth Edison Co [Member] - shares	Dec. 31, 2022	Dec. 31, 2021
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	60,052	60,061
Common Stock [Member]
Class of Warrant or Right [Line Items]
Common Stock Shares Reserved For Warrant Conversion	20,017	20,020

Schedule I - Condensed Financial Information of Parent (Exelon Corporate) - Condensed Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net cash flows provided by operating activities	$ 4,870	$ 3,012	$ 4,235
Cash flows from investing activities
Payments for (Proceeds from) Other Investing Activities	0	26	18
Net cash flows used in investing activities	(6,990)	(3,317)	(4,336)
Cash flows from financing activities
Changes in short-term borrowings	986	269	161
Proceeds from short-term borrowings with maturities greater than 90 days	1,300	1,380	500
Repayments on short-term borrowings with maturities greater than 90 days	(1,500)	(350)	0
Issuance of long-term debt	6,309	3,481	7,507
Retirement of long-term debt	(2,073)	(1,640)	(6,440)
Proceeds from Issuance of Common Stock	563	0	0
Dividends paid on common stock	(1,334)	(1,497)	(1,492)
Proceeds from employee stock plans	36	80	45
Other financing activities	(102)	(80)	(136)
Net cash flows provided by (used in) financing activities	1,591	758	145
Increase (decrease) in cash, restricted cash, and cash equivalents	(529)	453	44
Cash, restricted cash, and cash equivalents at beginning of period	1,619	1,166	1,122
Cash, restricted cash, and cash equivalents at end of period	1,090	1,619	1,166
Corporate, Non-Segment [Member]
Net cash flows provided by operating activities	1,690	3,629	3,018
Cash flows from investing activities
Changes in Exelon/PHI intercompany money pool	35	381	(477)
Notes receivable from affiliates	274	0	550
Investment in affiliates	(4,011)	(2,231)	(1,969)
Payments for (Proceeds from) Other Investing Activities	0	1	0
Net cash flows used in investing activities	(3,702)	(1,849)	(1,896)
Cash flows from financing activities
Changes in short-term borrowings	448	0	(136)
Proceeds from short-term borrowings with maturities greater than 90 days	1,150	500	0
Repayments on short-term borrowings with maturities greater than 90 days	(1,300)	(350)	0
Issuance of long-term debt	3,350	0	2,000
Retirement of long-term debt	(1,150)	(300)	(1,450)
Proceeds from Issuance of Common Stock	563	0	0
Dividends paid on common stock	(1,334)	(1,497)	(1,492)
Proceeds from employee stock plans	36	80	45
Other financing activities	(35)	19	(27)
Net cash flows provided by (used in) financing activities	1,728	(1,548)	(1,060)
Increase (decrease) in cash, restricted cash, and cash equivalents	(284)	232	62
Cash, restricted cash, and cash equivalents at beginning of period	295	63	1
Cash, restricted cash, and cash equivalents at end of period	$ 11	$ 295	$ 63

Lessor - Narrative (Details)	12 Months Ended
Lessor - Narrative (Details)	Dec. 31, 2022
Minimum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	1 year
Options to extend the term, Lessor, Operating Lease	5 years
Maximum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	80 years
Options to extend the term, Lessor, Operating Lease	79 years
Real Estate [Member]
Lessor, Lease, Description [Line Items]
Lessor, Operating Lease, Description	●
Commonwealth Edison Co [Member] \| Minimum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	1 year
Options to extend the term, Lessor, Operating Lease	5 years
Commonwealth Edison Co [Member] \| Maximum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	14 years
Options to extend the term, Lessor, Operating Lease	79 years
Commonwealth Edison Co [Member] \| Real Estate [Member]
Lessor, Lease, Description [Line Items]
Lessor, Operating Lease, Description	●
PECO Energy Co [Member] \| Minimum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	1 year
Options to extend the term, Lessor, Operating Lease	5 years
PECO Energy Co [Member] \| Maximum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	80 years
Options to extend the term, Lessor, Operating Lease	50 years
PECO Energy Co [Member] \| Real Estate [Member]
Lessor, Lease, Description [Line Items]
Lessor, Operating Lease, Description	●
Baltimore Gas and Electric Company [Member] \| Minimum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	20 years
Baltimore Gas and Electric Company [Member] \| Maximum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	20 years
Baltimore Gas and Electric Company [Member] \| Real Estate [Member]
Lessor, Lease, Description [Line Items]
Lessor, Operating Lease, Description	●
Pepco Holdings LLC [Member] \| Minimum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	1 year
Options to extend the term, Lessor, Operating Lease	N/A years
Pepco Holdings LLC [Member] \| Maximum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	10 years
Options to extend the term, Lessor, Operating Lease	N/A years
Pepco Holdings LLC [Member] \| Real Estate [Member]
Lessor, Lease, Description [Line Items]
Lessor, Operating Lease, Description	●
Potomac Electric Power Company [Member] \| Minimum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	1 year
Potomac Electric Power Company [Member] \| Maximum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	3 years
Potomac Electric Power Company [Member] \| Real Estate [Member]
Lessor, Lease, Description [Line Items]
Lessor, Operating Lease, Description	●
Delmarva Power & Light Company [Member] \| Minimum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	9 years
Delmarva Power & Light Company [Member] \| Maximum [Member]
Lessor, Lease, Description [Line Items]
Remaining lease terms, Lessor, Operating Lease	10 years
Delmarva Power & Light Company [Member] \| Real Estate [Member]
Lessor, Lease, Description [Line Items]
Lessor, Operating Lease, Description	●

Related Party Transactions (All Registrants)

12 Months Ended

Dec. 31, 2022

Related Party Transactions (All Registrants)

Utility Registrants' expense with Generation

The Utility Registrants incurred expenses from transactions with the Generation affiliate as described in the footnotes to the table below prior to separation on February 1, 2022. Such expenses were primarily recorded as Purchased power from affiliates and an immaterial amount recorded as Operating and maintenance expense from affiliates at the Utility Registrants:


	For the Years Ended December 31,
	2022		2021		2020
ComEd(a)	$	59	$	376	$	330
PECO(b)	33		196		190
BGE(c)	18		236		315
PHI	51		366		367
Pepco(d)	39		270		279
DPL(e)	10		79		75
ACE(f)	2		17		13

__________

(a)ComEd had an ICC-approved RFP contract with Generation to provide a portion of ComEd’s electric supply requirements. ComEd also purchased RECs and ZECs from Generation.

(b)PECO received electric supply from Generation under contracts executed through PECO’s competitive procurement process. In addition, PECO had a ten-year agreement with Generation to sell solar AECs.

(c)BGE received a portion of its energy requirements from Generation under its MDPSC-approved market-based SOS and gas commodity programs.

(d)Pepco received electric supply from Generation under contracts executed through Pepco's competitive procurement process approved by the MDPSC and DCPSC.

(e)DPL received a portion of its energy requirements from Generation under its MDPSC and DEPSC approved market-based SOS commodity programs.

(f)ACE received electric supply from Generation under contracts executed through ACE's competitive procurement process approved by the NJBPU.

Service Company Costs for Corporate Support

The Registrants receive a variety of corporate support services from BSC. Pepco, DPL, and ACE also receive corporate support services from PHISCO. See Note 1 — Significant Accounting Policies for additional information regarding BSC and PHISCO.

The following table presents the service company costs allocated to the Registrants:


	Operating and maintenance from affiliates						Capitalized costs
	For the years ended December 31,						For the years ended December 31,
	2022		2021		2020		2022		2021		2020
Exelon
BSC							$	707	$	508	$	531
PHISCO							80		72		61
ComEd
BSC	$	316	$	304	$	283	311		207		186
PECO
BSC	197		169		150		115		81		76
BGE
BSC	204		189		170		122		92		132
PHI
BSC	188		168		152		159		128		149
PHISCO	—		—		—		80		72		61
Pepco
BSC	110		96		85		60		50		55
PHISCO	112		114		120		33		31		27
DPL
BSC	71		61		54		45		43		51
PHISCO	96		99		97		26		22		18
ACE
BSC	57		53		45		54		33		40
PHISCO	84		86		87		21		19		16

Current Receivables from/Payables to affiliates

The following tables present current Receivables from affiliates and current Payables to affiliates:

December 31, 2022


	Receivables from affiliates:
Payables to affiliates:	ComEd		PECO		BGE		Pepco		DPL		ACE		BSC		PHISCO		Other		Total
ComEd			$	—	$	—	$	—	$	—	$	—	$	66	$	—	$	8	$	74
PECO	$	—			—		—		—		—		39		—		3		42
BGE	—		—				—		—		—		38		—		1		39
PHI	—		—		—		—		—		—		4		—		10		14
Pepco	—		—		—				—		—		20		13		1		34
DPL	—		2		—		—				—		12		8		—		22
ACE	—		2		—		—		—				14		9		1		26
Other	3		—		—		—		—		1		—		—				4
Total	$	3	$	4	$	—	$	—	$	—	$	1	$	193	$	30	$	24	$	255

December 31, 2021


	Receivables from affiliates:
Payables to affiliates:	ComEd		PECO		BGE		Pepco		DPL		ACE		Generation		BSC		PHISCO		Other		Total
ComEd			$	—	$	—	$	—	$	—	$	—	$	41	$	71	$	—	$	9	$	121
PECO	$	—			—		—		—		—		30		36		—		4		70
BGE	—		—				—		—		—		4		41		—		3		48
PHI	—		1		—		—		—		1		—		5		—		9		16
Pepco	—		—		1				1		1		20		21		12		3		59
DPL	—		—		—		—				—		4		17		11		1		33
ACE	—		—		—		—		—				7		13		9		2		31
Generation	13		—		—		—		—		—				102		—		16		131
Other	3		—		—		—		—		—		11		—		—				14
Total	$	16	$	1	$	1	$	—	$	1	$	2	$	117	$	306	$	32	$	47	$	523

Borrowings from Exelon/PHI intercompany money pool

To provide an additional short-term borrowing option that will generally be more favorable to the borrowing participants than the cost of external financing both Exelon and PHI operate an intercompany money pool. PECO, and PHI Corporate participate in the Exelon money pool. Pepco, DPL, and ACE participate in the PHI intercompany money pool.

Noncurrent Receivables from affiliates

ComEd and PECO have noncurrent receivables with Constellation for estimated excess funds at the end of decommissioning the Regulatory Agreement Units, such amounts are due back to ComEd and PECO, as applicable, for payment to their respective customers. The receivables are recorded in Receivable related to Regulatory Agreement Units as of December 31, 2022 and in noncurrent Receivables from affiliates as of December 31, 2021. See Note 3 — Regulatory Matters of the Combined Notes to Consolidated Financial Statements for additional information.

Long-term debt to financing trusts

The following table presents Long-term debt to financing trusts:


	As of December 31,
	2022						2021
	Exelon		ComEd		PECO		Exelon		ComEd		PECO
ComEd Financing III	$	206	$	205	$	—	$	206	$	205	$	—
PECO Trust III	81		—		81		81		—		81
PECO Trust IV	103		—		103		103		—		103
Total	$	390	$	205	$	184	$	390	$	205	$	184

Charitable Contributions

In December 2022, Exelon Corporation made an unconditional promise to give $20 million to the Exelon Foundation. The contribution was recorded in Operating and maintenance expense within the Consolidated Statements of Operations and Comprehensive Income with the offset in Accrued expenses and Other Deferred credits and other liabilities on the Consolidated Balance Sheets.

Asset Retirement Obligations (Tables)

12 Months Ended

Dec. 31, 2022

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation Rollforward

The following table provides a rollforward of the AROs reflected in the Registrants’ Consolidated Balance Sheets from December 31, 2020 to December 31, 2022:


	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
AROs as of December 31, 2020	$	249	$	129	$	29	$	23	$	59	$	39	$	14	$	6
Net increase due to changes in, and timing of, estimated future cash flows	26		15		—		2		10		5		2		3

Accretion expense(a)	7		4		1		1		1		1		—		—

Payments	(8)		(2)		(1)		—		—		—		—		—
AROs as of December 31, 2021	274		146		29		26		70		45		16		9
Net (decrease) increase due to changes in, and timing of, estimated future cash flows	(8)		2		(1)		3		(13)		(8)		(3)		(2)

Accretion expense(a)	8		4		1		1		2		2		—		—

Payments	(3)		(2)		(1)		—		—		—		—		—
AROs as of December 31, 2022	$	271	$	150	$	28	$	30	$	59	$	39	$	13	$	7

__________

(a)For ComEd, PECO, BGE, PHI, DPL and ACE, the majority of the accretion is recorded as an increase to a regulatory asset due to the associated regulatory treatment.

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2022


	For the Years Ended December 31,
	2022		2021		2020
ComEd(a)	$	59	$	376	$	330
PECO(b)	33		196		190
BGE(c)	18		236		315
PHI	51		366		367
Pepco(d)	39		270		279
DPL(e)	10		79		75
ACE(f)	2		17		13

__________

(a)ComEd had an ICC-approved RFP contract with Generation to provide a portion of ComEd’s electric supply requirements. ComEd also purchased RECs and ZECs from Generation.

(c)BGE received a portion of its energy requirements from Generation under its MDPSC-approved market-based SOS and gas commodity programs.

(d)Pepco received electric supply from Generation under contracts executed through Pepco's competitive procurement process approved by the MDPSC and DCPSC.

(e)DPL received a portion of its energy requirements from Generation under its MDPSC and DEPSC approved market-based SOS commodity programs.

(f)ACE received electric supply from Generation under contracts executed through ACE's competitive procurement process approved by the NJBPU.

The following table presents the service company costs allocated to the Registrants:


	Operating and maintenance from affiliates						Capitalized costs
	For the years ended December 31,						For the years ended December 31,
	2022		2021		2020		2022		2021		2020
Exelon
BSC							$	707	$	508	$	531
PHISCO							80		72		61
ComEd
BSC	$	316	$	304	$	283	311		207		186
PECO
BSC	197		169		150		115		81		76
BGE
BSC	204		189		170		122		92		132
PHI
BSC	188		168		152		159		128		149
PHISCO	—		—		—		80		72		61
Pepco
BSC	110		96		85		60		50		55
PHISCO	112		114		120		33		31		27
DPL
BSC	71		61		54		45		43		51
PHISCO	96		99		97		26		22		18
ACE
BSC	57		53		45		54		33		40
PHISCO	84		86		87		21		19		16

The following tables present current Receivables from affiliates and current Payables to affiliates:

December 31, 2022


	Receivables from affiliates:
Payables to affiliates:	ComEd		PECO		BGE		Pepco		DPL		ACE		BSC		PHISCO		Other		Total
ComEd			$	—	$	—	$	—	$	—	$	—	$	66	$	—	$	8	$	74
PECO	$	—			—		—		—		—		39		—		3		42
BGE	—		—				—		—		—		38		—		1		39
PHI	—		—		—		—		—		—		4		—		10		14
Pepco	—		—		—				—		—		20		13		1		34
DPL	—		2		—		—				—		12		8		—		22
ACE	—		2		—		—		—				14		9		1		26
Other	3		—		—		—		—		1		—		—				4
Total	$	3	$	4	$	—	$	—	$	—	$	1	$	193	$	30	$	24	$	255

December 31, 2021


	Receivables from affiliates:
Payables to affiliates:	ComEd		PECO		BGE		Pepco		DPL		ACE		Generation		BSC		PHISCO		Other		Total
ComEd			$	—	$	—	$	—	$	—	$	—	$	41	$	71	$	—	$	9	$	121
PECO	$	—			—		—		—		—		30		36		—		4		70
BGE	—		—				—		—		—		4		41		—		3		48
PHI	—		1		—		—		—		1		—		5		—		9		16
Pepco	—		—		1				1		1		20		21		12		3		59
DPL	—		—		—		—				—		4		17		11		1		33
ACE	—		—		—		—		—				7		13		9		2		31
Generation	13		—		—		—		—		—				102		—		16		131
Other	3		—		—		—		—		—		11		—		—				14
Total	$	16	$	1	$	1	$	—	$	1	$	2	$	117	$	306	$	32	$	47	$	523

The following table presents Long-term debt to financing trusts:


	As of December 31,
	2022						2021
	Exelon		ComEd		PECO		Exelon		ComEd		PECO
ComEd Financing III	$	206	$	205	$	—	$	206	$	205	$	—
PECO Trust III	81		—		81		81		—		81
PECO Trust IV	103		—		103		103		—		103
Total	$	390	$	205	$	184	$	390	$	205	$	184

Discontinued Operations (Exelon)

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations (Exelon)

On February 21, 2021, Exelon's Board of Directors approved a plan to separate the Utility Registrants and Generation, creating two publicly traded companies ("the separation"). Exelon completed the separation on February 1, 2022, through the distribution of 326,663,937 common stock shares of Constellation, the new publicly traded company, to Exelon shareholders. Under the separation plan, Exelon shareholders retained their current shares of Exelon stock and received one share of Constellation common stock for every three shares of Exelon common stock held on January 20, 2022, the record date for the distribution, in a transaction that was tax-free to Exelon and its shareholders for U.S. federal income tax purposes.

Constellation was newly formed and incorporated in Pennsylvania on June 15, 2021 for the purposes of separation and holds Generation (including Generation's subsidiaries).

Pursuant to the separation:

•Exelon entered into four term loans consisting of a 364-day term loan for $1.15 billion and three 18-month term loans for $300 million, $300 million and $250 million, respectively. Exelon issued these term loans primarily to fund the cash payment to Constellation and for general corporate purposes. See Note 16 — Debt and Credit Agreements for additional information.

•Exelon made a cash payment of $1.75 billion to Constellation on January 31, 2022.

•Exelon contributed its equity ownership interest in Generation to Constellation. Exelon no longer retains any equity ownership interest in Generation or Constellation.

•Exelon transferred certain corporate assets and employee-related obligations to Constellation.

•Exelon received cash from Generation of $258 million to settle the intercompany loan on January 31, 2022. See Note 16 — Debt and Credit Agreements for additional information.

Continuing Involvement

In order to govern the ongoing relationships between Exelon and Constellation after the separation, and to facilitate an orderly transition, Exelon and Constellation have entered into several agreements, including the following:

•Separation Agreement – governs the rights and obligations between Exelon and Constellation regarding certain actions to be taken in connection with the separation, among others, including the allocation of assets and liabilities between Exelon and Constellation.

•Transition Services Agreement (TSA) – governs the terms and conditions of the services that Exelon will provide to Constellation and Constellation will provide to Exelon for an expected period of two years, provided that certain services may be longer than the term and services may be extended with approval from both parties. The services include specified accounting, finance, information technology, human resources, employee benefits, and other services that have historically been provided on a centralized basis by BSC. For the period from February 1, 2022 to December 31, 2022, the amounts Exelon billed

Constellation and Constellation billed Exelon for these services were $266 million recorded in Other income, net and $43 million recorded in Operating and maintenance expense, respectively.

•Tax Matters Agreement (TMA) – governs the respective rights, responsibilities and obligations of Exelon and Constellation with respect to all tax matters, including tax liabilities and benefits, tax attributes, tax returns, tax contests and other tax sharing regarding U.S. federal, state, local and foreign income taxes, other tax matters and related tax returns. See Note 13 — Income Taxes for additional Information.

In addition, the Utility Registrants will continue to incur expenses from transactions with Constellation after the separation. Prior to the separation, such expenses were primarily recorded as Purchased power from affiliates and an immaterial amount recorded as Operating and maintenance expense from affiliates at the Utility Registrants. After the separation, such expenses are primarily recorded as Purchased power and an immaterial amount recorded as Operating and maintenance expense at the Utility Registrants.

•ComEd had an ICC-approved RFP contract with Constellation to provide a portion of ComEd’s electric supply requirements. ComEd also purchased RECs and ZECs from Constellation.

•PECO received electric supply from Constellation under contracts executed through PECO’s competitive procurement process. In addition, PECO had a ten-year agreement with Constellation to sell solar AECs.

•BGE received a portion of its energy requirements from Constellation under its MDPSC-approved market-based SOS and gas commodity programs.

•Pepco received electric supply from Constellation under contracts executed through Pepco’s competitive procurement process approved by the MDPSC and DCPSC.

•DPL received a portion of its energy requirements from Constellation under its MDPSC and DEPSC approved market-based SOS commodity programs.

•ACE received electric supply from Constellation under contracts executed through ACE’s competitive procurement process approved by the NJBPU.

ComEd and PECO also have receivables with Constellation for estimated excess funds at the end of decommissioning the Regulatory Agreement Units, such amounts are due back to ComEd and PECO, as applicable, for payment to their respective customers. See Note 3 — Regulatory Matters and Note 23 — Related Party Transactions for additional information.

Discontinued Operations

The separation represented a strategic shift that would have a major effect on Exelon’s operations and financial results. Accordingly, the separation meets the criteria for discontinued operations.

Exelon’s Consolidated Statements of Operations as these costs do not qualify as expenses of the discontinued operations per the accounting rules.


	For the Years Ended December 31,
	2022		2021		2020
Operating revenues
Competitive business revenues	$	1,855	$	18,466	$	16,399
Competitive business revenues from affiliates	161		1,189		1,206
Total operating revenues	2,016		19,655		17,605
Operating expenses
Competitive businesses purchased power and fuel	1,138		12,163		9,585
Operating and maintenance(a)	371		4,174		4,794
Depreciation and amortization	94		3,003		2,123
Taxes other than income taxes	44		475		482
Total operating expenses	1,647		19,815		16,984
Gain on sales of assets and businesses	10		201		11
Operating income	379		41		632
Other income and (deductions)
Interest expense, net	(20)		(282)		(328)
Other, net	(281)		795		937
Total other (deductions) and income	(301)		513		609
Income before income taxes	78		554		1,241
Income taxes	(40)		332		380
Equity in losses of unconsolidated affiliates	(1)		(9)		(6)
Net income	117		213		855
Net income (loss) attributable to noncontrolling interests	1		123		(9)
Net income from discontinued operations	$	116	$	90	$	864

__________

There were no assets and liabilities of discontinued operations included in Exelon's Consolidated Balance Sheet as of December 31, 2022. Constellation had net assets of $11,573 million that separated on February 1, 2022 that resulted in a reduction to Exelon's equity during the year ended December 31, 2022. Refer to the Distribution of Constellation line in Exelon's Consolidated Statement of Changes in Shareholders' Equity for further information.

The following table presents the assets and liabilities of discontinued operations in Exelon’s Consolidated Balance Sheets as of December 31, 2021.


	December 31, 2021
ASSETS
Current assets
Cash and cash equivalents	$	510
Restricted cash and cash equivalents	72
Accounts receivable
Customer accounts receivable	1,724
Customer allowance for credit losses	(55)
Customer accounts receivable, net	1,669
Other accounts receivable	596
Other allowance for credit losses	(4)
Other accounts receivable, net	592
Mark-to-market derivative assets	2,169
Inventories, net
Fossil fuel and emission allowances	284
Materials and supplies	1,004
Renewable energy credits	529
Assets held for sale	13
Other	993
Total current assets of discontinued operations	7,835
Property, plant, and equipment (net of accumulated depreciation and amortization of $15,888)	19,661
Deferred debits and other assets
Nuclear decommissioning trust funds	15,938
Investments	193
Mark-to-market derivative assets	949
Other	1,768
Total property, plant, and equipment, deferred debits, and other assets of discontinued operations	38,509
Total assets of discontinued operations	$	46,344


	December 31, 2021
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Short-term borrowings	$	2,082
Long-term debt due within one year	1,220
Accounts payable	1,757
Accrued expenses	818
Mark-to-market derivative liabilities	981
Renewable energy credit obligation	779
Liabilities held for sale	3
Other	300
Total current liabilities of discontinued operations	7,940
Long-term debt	4,575
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	3,583
Asset retirement obligations	12,819
Pension obligations	939
Non-pension postretirement benefit obligations	876
Spent nuclear fuel obligation	1,210
Mark-to-market derivative liabilities	513
Other	1,161
Total long-term debt, deferred credits, and other liabilities of discontinued operations	25,676
Total liabilities of discontinued operations	$	33,616


	For the Years Ended December 31,
	2022		2021		2020
Non-cash items included in net income from discontinued operations:
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization	$	207	$	4,540	$	3,636
Asset impairments	—		545		563
Loss (gain) on sales of assets and businesses	9		(201)		(11)
Deferred income taxes and amortization of investment tax credits	(143)		(224)		94
Net fair value changes related to derivatives	(59)		(568)		(270)
Net realized and unrealized losses (gains) on NDT fund investments	205		(586)		(461)
Net unrealized losses (gains) on equity investments	16		160		(186)
Other decommissioning-related activity	36		(946)		(659)
Cash flows from investing activities:
Capital expenditures	(227)		(1,341)		(1,759)
Collection of DPP	169		3,902		3,771
Supplemental cash flow information:
(Decrease) increase in capital expenditures not paid	(128)		96		(88)
Increase in DPP	348		3,652		4,441
Increase in PP&E related to ARO update	335		618		850

Lessor - Operating Lease, Payments, Fiscal Year Maturity (Details) $ in Millions	Dec. 31, 2022 USD ($)
Schedule of Lessor, Operating Lease, Payments to be Received, Maturity [Line Items]
2023	$ 5
2024	5
2025	5
2026	5
2027	5
Remaining years	27
Total Lessor, Operating Lease, Payments to be Received	52
Commonwealth Edison Co [Member]
Schedule of Lessor, Operating Lease, Payments to be Received, Maturity [Line Items]
2023	1
2024	1
2025	0
2026	0
2027	0
Remaining years	0
Total Lessor, Operating Lease, Payments to be Received	2
PECO Energy Co [Member]
Schedule of Lessor, Operating Lease, Payments to be Received, Maturity [Line Items]
2023	0
2024	0
2025	0
2026	0
2027	0
Remaining years	4
Total Lessor, Operating Lease, Payments to be Received	4
Baltimore Gas and Electric Company [Member]
Schedule of Lessor, Operating Lease, Payments to be Received, Maturity [Line Items]
2023	0
2024	0
2025	0
2026	0
2027	0
Remaining years	1
Total Lessor, Operating Lease, Payments to be Received	1
Pepco Holdings LLC [Member]
Schedule of Lessor, Operating Lease, Payments to be Received, Maturity [Line Items]
2023	4
2024	3
2025	4
2026	5
2027	5
Remaining years	23
Total Lessor, Operating Lease, Payments to be Received	44
Potomac Electric Power Company [Member]
Schedule of Lessor, Operating Lease, Payments to be Received, Maturity [Line Items]
2023	0
2024	0
2025	0
2026	0
2027	0
Remaining years	0
Total Lessor, Operating Lease, Payments to be Received	0
Delmarva Power & Light Company [Member]
Schedule of Lessor, Operating Lease, Payments to be Received, Maturity [Line Items]
2023	3
2024	3
2025	5
2026	4
2027	4
Remaining years	22
Total Lessor, Operating Lease, Payments to be Received	$ 41

Income Taxes - Narrative (Details) - USD ($) $ in Millions				12 Months Ended			84 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Jan. 01, 2031	Jan. 01, 2023	Jul. 08, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2031	Mar. 31, 2022
Income Tax Additional Narrative Information [Line Items]
Income tax expense related to separation				$ 148
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount				67
Income Tax Credits and Adjustments				15
Income Taxes Receivable, Current				18				$ 55
Notes Payable, Current				169				11
Notes Payable, Noncurrent				362				$ 484
State and Local Jurisdiction [Member]
Income Tax Additional Narrative Information [Line Items]
Increase (Decrease) in Deferred Income Taxes				67	$ 27	$ 66
Increase (Decrease) in Income Taxes				67	$ 27	$ 66
State and Local Jurisdiction [Member] \| Atlantic City Electric Company [Member]
Income Tax Additional Narrative Information [Line Items]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit				14
Federal and State
Income Tax Additional Narrative Information [Line Items]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount				40
Income Tax Credits and Adjustments				17
Total transaction costs taxes relating to the Separation				24
PENNSYLVANIA
Income Tax Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Assets				428
Increase (Decrease) in Deferred Income Taxes				390
Change in Enacted Tax Rate, Percent	4.99%	8.99%	9.99%				(0.50%)
Increase (Decrease) in Income Taxes				38
PENNSYLVANIA \| PECO Energy Co [Member]
Income Tax Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Assets				428
Increase (Decrease) in Deferred Income Taxes				390
Change in Enacted Tax Rate, Percent	4.99%	8.99%	9.99%				(0.50%)
Increase (Decrease) in Income Taxes				$ 38

Segment Information - Reconciliation to Consolidated Financial Statements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 19,078	$ 17,938	$ 16,663
Depreciation and amortization	3,325	3,033	2,891
Operating Expenses	15,761	15,256	14,485
Interest expense, net	1,447	1,289	1,307
Income taxes	349	38	(7)
Net income (loss)	2,171	1,829	1,954
Capital expenditures	7,147	7,981	8,048
Total assets	95,349	133,013
PECO Energy Co [Member]
Segment Reporting Information [Line Items]
Revenues	3,903	3,198	3,058
Operating revenues from affiliates	7	21	9
Income taxes	79	12	(30)
Net income (loss)	576	504	447
Capital expenditures	1,349	1,240	1,147
Total assets	14,502	13,824
Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Revenues	5,565	5,041	4,663
Operating revenues from affiliates	10	13	17
Income taxes	9	42	(77)
Net income (loss)	608	561	495
Capital expenditures	1,709	1,720	1,604
Total assets	26,082	24,744
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	19,078	17,938	16,663
Net income (loss)	2,054	1,616	1,099
Capital expenditures	6,921	6,640	6,289
Total assets	95,349	86,669
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Income taxes	(21)	(48)	11
Net income (loss)	2,170	1,706	1,963
Total assets	40,578	47,989
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	(1,869)	(2,261)	(2,095)
Operating revenues from affiliates	6	57	23
Depreciation and amortization	0	1	0
Operating Expenses	(1,762)	(1,587)	(1,502)
Interest expense, net	(3)	(1)	(3)
Income taxes	(11)	(161)	(153)
Net income (loss)	(34)	(443)	(446)
Capital expenditures	0	0	0
Total assets	(4,260)	(8,319)
Intersegment Eliminations [Member] \| Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Revenues	(383)	(380)	(374)
Operating revenues from affiliates	(383)	(381)	(375)
Depreciation and amortization	0	0	0
Operating Expenses	(383)	(381)	(375)
Interest expense, net	1	0	0
Income taxes	0	0	0
Net income (loss)	0	0	0
Capital expenditures	0	0	0
Total assets	(33)	(60)
Commonwealth Edison Co [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	5,761	6,406	5,904
Depreciation and amortization	1,323	1,205	1,133
Operating Expenses	4,218	5,151	4,950
Interest expense, net	414	389	382
Income taxes	264	172	177
Net income (loss)	917	742	438
Capital expenditures	2,506	2,387	2,217
Total assets	39,661	36,470
Commonwealth Edison Co [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Operating revenues from affiliates	16	41	37
PECO Energy Co [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	3,903	3,198	3,058
Depreciation and amortization	373	348	347
Operating Expenses	3,102	2,547	2,512
Interest expense, net	177	161	147
Income taxes	79	12	(30)
Net income (loss)	576	504	447
Capital expenditures	1,349	1,240	1,147
Total assets	14,502	13,824
PECO Energy Co [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Operating revenues from affiliates	7	21	9
Baltimore Gas and Electric Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	3,895	3,341	3,098
Depreciation and amortization	630	591	550
Operating Expenses	3,376	2,860	2,598
Interest expense, net	152	138	133
Income taxes	8	(35)	41
Net income (loss)	380	408	349
Capital expenditures	1,262	1,226	1,247
Total assets	13,350	12,324
Baltimore Gas and Electric Company [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Operating revenues from affiliates	15	31	20
Pepco Holdings LLC [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	5,565	5,041	4,663
Depreciation and amortization	938	821	782
Operating Expenses	4,734	4,240	4,045
Interest expense, net	292	267	268
Income taxes	9	42	(77)
Net income (loss)	608	561	495
Capital expenditures	1,709	1,720	1,604
Total assets	26,082	24,744
Pepco Holdings LLC [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Operating revenues from affiliates	10	13	17
Potomac Electric Power Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	2,531	2,274	2,149
Depreciation and amortization	417	403	377
Operating Expenses	2,140	1,871	1,799
Interest expense, net	150	140	138
Income taxes	(9)	15	(7)
Net income (loss)	305	296	266
Capital expenditures	874	843	773
Total assets	10,657	9,903
Potomac Electric Power Company [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Operating revenues from affiliates	5	5	7
Delmarva Power & Light Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	1,595	1,380	1,271
Depreciation and amortization	232	210	191
Operating Expenses	1,359	1,161	1,120
Interest expense, net	66	61	61
Income taxes	14	42	(25)
Net income (loss)	169	128	125
Capital expenditures	430	429	424
Total assets	5,802	5,412
Delmarva Power & Light Company [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Operating revenues from affiliates	6	7	9
Atlantic City Electric Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	1,431	1,388	1,245
Depreciation and amortization	261	179	180
Operating Expenses	1,225	1,201	1,123
Interest expense, net	66	58	59
Income taxes	3	(13)	(41)
Net income (loss)	148	146	112
Capital expenditures	398	445	401
Total assets	4,979	4,556
Atlantic City Electric Company [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Operating revenues from affiliates	2	2	4
Corporate and Other [Member] \| Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Revenues	1,823	2,213	2,035
Depreciation and amortization	61	67	79
Operating Expenses	2,093	2,045	1,882
Interest expense, net	415	335	380
Income taxes	0	8	35
Net income (loss)	(393)	(156)	(184)
Capital expenditures	95	67	74
Total assets	6,014	7,626
Corporate and Other [Member] \| Corporate, Non-Segment [Member] \| Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Revenues	391	379	372
Depreciation and amortization	28	29	34
Operating Expenses	393	388	378
Interest expense, net	9	8	10
Income taxes	1	(2)	(4)
Net income (loss)	(14)	(9)	(8)
Capital expenditures	7	3	6
Total assets	4,677	4,933
Corporate and Other [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Operating revenues from affiliates	1,823	2,203	2,024
Corporate and Other [Member] \| Intersegment Eliminations [Member] \| Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Operating revenues from affiliates	380	380	372
Segment Elimination [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Operating revenues from affiliates	(1,865)	(2,252)	(2,084)
Electricity, US Regulated [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	16,899	16,245	15,236
Electricity, US Regulated [Member] \| PECO Energy Co [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	3,156	2,613	2,519
Electricity, US Regulated [Member] \| Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	5,376	4,769	4,463
Electricity, US Regulated [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	17,083	16,395	15,224
Electricity, US Regulated [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	(31)	(35)	(44)
Electricity, US Regulated [Member] \| Intersegment Eliminations [Member] \| Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	(2)	(14)	(18)
Electricity, US Regulated [Member] \| Commonwealth Edison Co [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	5,761	6,406	5,904
Electricity, US Regulated [Member] \| PECO Energy Co [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	3,165	2,659	2,543
Electricity, US Regulated [Member] \| Baltimore Gas and Electric Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	2,871	2,505	2,336
Electricity, US Regulated [Member] \| Pepco Holdings LLC [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	5,317	4,860	4,485
Electricity, US Regulated [Member] \| Potomac Electric Power Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	2,531	2,274	2,149
Electricity, US Regulated [Member] \| Delmarva Power & Light Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	1,357	1,212	1,109
Electricity, US Regulated [Member] \| Atlantic City Electric Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	1,431	1,388	1,245
Electricity, US Regulated [Member] \| Corporate and Other [Member] \| Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Electricity, US Regulated [Member] \| Corporate and Other [Member] \| Corporate, Non-Segment [Member] \| Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Natural Gas, US Regulated [Member] \| PECO Energy Co [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	738	538	514
Natural Gas, US Regulated [Member] \| Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	238	168	162
Natural Gas, US Regulated [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	1,995	1,543	1,439
Natural Gas, US Regulated [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	(5)	0	0
Natural Gas, US Regulated [Member] \| Intersegment Eliminations [Member] \| Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Natural Gas, US Regulated [Member] \| Commonwealth Edison Co [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Natural Gas, US Regulated [Member] \| PECO Energy Co [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	738	539	515
Natural Gas, US Regulated [Member] \| Baltimore Gas and Electric Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	1,024	836	762
Natural Gas, US Regulated [Member] \| Pepco Holdings LLC [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	238	168	162
Natural Gas, US Regulated [Member] \| Potomac Electric Power Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Natural Gas, US Regulated [Member] \| Delmarva Power & Light Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	238	168	162
Natural Gas, US Regulated [Member] \| Atlantic City Electric Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Natural Gas, US Regulated [Member] \| Corporate and Other [Member] \| Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Natural Gas, US Regulated [Member] \| Corporate and Other [Member] \| Corporate, Non-Segment [Member] \| Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Service, Other [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Service, Other [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	(1,833)	(2,226)	(2,051)
Service, Other [Member] \| Intersegment Eliminations [Member] \| Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	(381)	(366)	(356)
Service, Other [Member] \| Commonwealth Edison Co [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Service, Other [Member] \| PECO Energy Co [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Service, Other [Member] \| Baltimore Gas and Electric Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Service, Other [Member] \| Pepco Holdings LLC [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	10	13	16
Service, Other [Member] \| Potomac Electric Power Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Service, Other [Member] \| Delmarva Power & Light Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Service, Other [Member] \| Atlantic City Electric Company [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0
Service, Other [Member] \| Corporate and Other [Member] \| Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	1,823	2,213	2,035
Service, Other [Member] \| Corporate and Other [Member] \| Corporate, Non-Segment [Member] \| Pepco Holdings LLC [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 391	$ 379	$ 372

Income Taxes - Summary of Interest and Penalties Receivable (Payable) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Net Interest Receivable Payable Related To Uncertain Tax Positions	$ 45	$ 43
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	272
Other	1,141	$ 885
Exelon Generation Co L L C [Member]
Income Taxes [Line Items]
Other	$ 1

Retirement Benefits - Pension and Other Postretirement Benefit Plan Target Asset Allocations (Details)	Dec. 31, 2022	Dec. 31, 2021
Pension Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target asset allocation percentage	100.00%	100.00%
Pension Plan, Defined Benefit [Member] \| Equity Securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target asset allocation percentage	28.00%	35.00%
Pension Plan, Defined Benefit [Member] \| Fixed Income Securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target asset allocation percentage	44.00%	41.00%
Pension Plan, Defined Benefit [Member] \| Alternative Investments [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target asset allocation percentage	28.00%	24.00%
Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target asset allocation percentage	100.00%	100.00%
Other Postretirement Benefit Plan, Defined Benefit [Member] \| Equity Securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target asset allocation percentage	44.00%	44.00%
Other Postretirement Benefit Plan, Defined Benefit [Member] \| Fixed Income Securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target asset allocation percentage	41.00%	41.00%
Other Postretirement Benefit Plan, Defined Benefit [Member] \| Alternative Investments [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target asset allocation percentage	15.00%	15.00%

Changes in Accumulated Other Comprehensive Income - Income Taxes Allocated to Other Comprehensive Income (Loss) Components (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Prior service costs
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Tax	$ 0	$ 4	$ 16
Actuarial losses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Tax	(14)	(76)	(66)
Pension and Non-Pension Postretirement Benefit Plan Items (a)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Tax	$ (14)	$ (153)	$ 122

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123586238&loc=d3e39076-109324

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123586238&loc=d3e38679-109324

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442407-227067

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32672-109319

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=126968391&loc=d3e640-108580

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Supplemental Financial Information [Abstract]

Income Taxes - Rollforward of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits - Beginning Balance	$ 143	$ 125	$ 95
Unrecognized Tax Benefits, Period Increase (Decrease)	(1)	13	6
Increases based on tax positions related to current year	3	4	3
Increases based on tax positions prior to current year	3	4	26
Decreases based on tax positions prior to current year	0	(3)	(5)
Unrecognized tax benefits - Ending Balance	148	143	125
Income Taxes Receivable, Noncurrent	50
Pepco Holdings LLC [Member]
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits - Beginning Balance	56	52	48
Unrecognized Tax Benefits, Period Increase (Decrease)	1	3	3
Increases based on tax positions related to current year	2	1	0
Increases based on tax positions prior to current year	0	0	1
Decreases based on tax positions prior to current year	0	0	0
Unrecognized tax benefits - Ending Balance	59	56	52
Atlantic City Electric Company [Member]
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits - Beginning Balance	16	15	14
Unrecognized Tax Benefits, Period Increase (Decrease)	1	1	1
Increases based on tax positions related to current year	0	0	0
Increases based on tax positions prior to current year	0	0	0
Decreases based on tax positions prior to current year	0	0	0
Unrecognized tax benefits - Ending Balance	$ 17	$ 16	$ 15

Commitments and Contingencies - Narrative (Details) $ in Millions		12 Months Ended
	Mar. 23, 2016 MW	Dec. 31, 2022 USD ($) MGPSite MW	Dec. 31, 2018 MW	Dec. 31, 2017 MW	Dec. 31, 2021 USD ($)
Commitments and Contingencies [Line Items]
Other Commitment		$ 631
Accrual for Environmental Loss Contingencies, Gross		409			$ 352
Deferred Prosecution Payment		200
Commonwealth Edison Co [Member]
Commitments and Contingencies [Line Items]
Other Commitment		$ 258
Sites under study/remediation \| MGPSite		20
Accrual for Environmental Loss Contingencies, Gross		$ 325			279
Deferred Prosecution Payment		200
Customer Refund Liability, Current		38
Customer Refund Liability, Current		38
Commonwealth Edison Co [Member] \| Illinois Chamber of Commerce
Commitments and Contingencies [Line Items]
Customer Refund Liability, Current		31
Customer Refund Liability, Current		31
Commonwealth Edison Co [Member] \| Accrual For MGP Investigation And Remediation [Member]
Commitments and Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Period Increase (Decrease)		60
Accrual for Environmental Loss Contingencies, Period Increase (Decrease)		60
PECO Energy Co [Member]
Commitments and Contingencies [Line Items]
Other Commitment		$ 181
Sites under study/remediation \| MGPSite		6
Accrual for Environmental Loss Contingencies, Gross		$ 25			22
Baltimore Gas and Electric Company [Member]
Commitments and Contingencies [Line Items]
Other Commitment		$ 4
Sites under study/remediation \| MGPSite		4
Accrual for Environmental Loss Contingencies, Gross		$ 9			6
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Actual		0.48
Pepco Holdings LLC [Member]
Commitments and Contingencies [Line Items]
Other Commitment		$ 125
Accrual for Environmental Loss Contingencies, Gross		46			42
Potomac Electric Power Company [Member]
Commitments and Contingencies [Line Items]
Other Commitment		94
Accrual for Environmental Loss Contingencies, Gross		$ 44			40
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Actual		0.48
Delmarva Power & Light Company [Member]
Commitments and Contingencies [Line Items]
Other Commitment		$ 19
Sites under study/remediation \| MGPSite		1
Accrual for Environmental Loss Contingencies, Gross		$ 1			1
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Actual		0.48
Atlantic City Electric Company [Member]
Commitments and Contingencies [Line Items]
Other Commitment		$ 12
Accrual for Environmental Loss Contingencies, Gross		$ 1			$ 1
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Actual		0.48
Atlantic City Electric Company [Member] \| Minimum [Member]
Commitments and Contingencies [Line Items]
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Actual		0.30
PEPCO Holdings Inc [Member]
Commitments and Contingencies [Line Items]
Other Commitment		$ 513
PEPCO Holdings Inc [Member] \| Pepco Holdings LLC [Member]
Commitments and Contingencies [Line Items]
Other Commitment		320
PEPCO Holdings Inc [Member] \| Potomac Electric Power Company [Member]
Commitments and Contingencies [Line Items]
Other Commitment		120
PEPCO Holdings Inc [Member] \| Delmarva Power & Light Company [Member]
Commitments and Contingencies [Line Items]
Other Commitment		89
PEPCO Holdings Inc [Member] \| Atlantic City Electric Company [Member]
Commitments and Contingencies [Line Items]
Other Commitment		$ 111
PEPCO Holdings Inc [Member] \| Wind Assets [Member] \| Delmarva Power & Light Company [Member]
Commitments and Contingencies [Line Items]
Purchase Commitment \| MW	120	40	40	40

Stock-Based Compensation Plans - Narrative (Details) shares in Millions	12 Months Ended
	Dec. 31, 2022 shares
Performance Shares [Member]
Common Stock Narrative Information [Line Items]
Percentage to be settled as common stock	50.00%
Percentage to be settled as cash	50.00%
Percentage to be settled as cash if ownership requirements are met	100.00%
Vesting period	3 years
Minimum [Member] \| Restricted Stock Units (RSUs) [Member]
Common Stock Narrative Information [Line Items]
Requisite service period	3 years
Maximum [Member] \| Restricted Stock Units (RSUs) [Member]
Common Stock Narrative Information [Line Items]
Requisite service period	5 years
LTIP [Member]
Common Stock Narrative Information [Line Items]
Shares authorized	34

Stock-Based Compensation Plans - Summary of Stock Option Exercised (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate value	$ 0	$ 11	$ 5
Cash received for exercise price	$ 1	$ 37	$ 18

Supplemental Financial Information (All Registrants)

12 Months Ended

Dec. 31, 2022

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
For the year ended December 31, 2022
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

For the year ended December 31, 2021
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

For the year ended December 31, 2020
Utility(a)	$	759	$	238	$	135	$	87	$	299	$	275	$	21	$	3
Property	336		30		16		164		126		84		39		3
Payroll	121		27		16		17		25		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
For the year ended December 31, 2022

AFUDC—Equity	$	150	$	35	$	31	$	21	$	63	$	48	$	7	$	8
Non-service net periodic benefit cost	63		—		—		—		—		—		—		—


For the year ended December 31, 2021
AFUDC—Equity	$	136	$	34	$	26	$	27	$	49	$	40	$	6	$	3
Non-service net periodic benefit cost	91		—		—		—		—		—		—		—

For the year ended December 31, 2020
AFUDC—Equity	$	104	$	29	$	17	$	22	$	36	$	28	$	4	$	4
Non-service net periodic benefit cost	53		—		—		—		—		—		—		—

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
For the year ended December 31, 2022
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

For the year ended December 31, 2021
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

For the year ended December 31, 2020
Property, plant, and equipment(b)	$	4,364	$	922	$	319	$	397	$	586	$	257	$	155	$	140
Amortization of regulatory assets(b)	588		211		28		153		196		120		36		40
Amortization of intangible assets, net(b)	62		—		—		—		—		—		—		—
Amortization of energy contract assets and liabilities(c)	30		—		—		—		—		—		—		—
Nuclear fuel(d)	983		—		—		—		—		—		—		—
ARO accretion(e)	500		—		—		—		—		—		—		—
Total depreciation, amortization, and accretion	$	6,527	$	1,133	$	347	$	550	$	782	$	377	$	191	$	180

__________

(a)Exelon's amounts include amounts related to Generation prior to the separation. See Note 2 — Discontinued Operations for additional information.

(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
For the year ended December 31, 2022
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)

For the year ended December 31, 2021
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

For the year ended December 31, 2020
Interest (net of amount capitalized)	$	1,521	$	371	$	144	$	125	$	257	$	129	$	61	$	57
Income taxes (net of refunds)	10		(61)		(37)		(57)		46		40		12		(3)

__________

(a)Exelon's amounts include amounts related to Generation prior to the separation. See Note 2 — Discontinued Operations for additional information.


	Other non-cash operating activities:
	Exelon(a)		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
For the year ended December 31, 2022
Pension and non-pension postretirement benefit costs	$	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)

For the year ended December 31, 2021
Pension and non-pension postretirement benefit 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)

For the year ended December 31, 2020
Pension and non-pension postretirement benefit costs	$	411	$	114	$	5	$	62	$	70	$	15	$	7	$	14
Allowance for credit losses	150		32		42		15		43		24		16		2
Other decommissioning-related activity	(659)		—		—		—		—		—		—		—
Energy-related options	104		—		—		—		—		—		—		—
True-up adjustments to decoupling mechanisms and formula rates(c)	(6)		47		(16)		(16)		(21)		(40)		7		12
Severance costs	105		1		1		—		—		—		—		—

Provision for excess and obsolete inventory	131		2		1		—		—		—		—		—

Long-term incentive plan	56		—		—		—		—		—		—		—
Amortization of operating ROU Asset	222		2		1		31		28		7		8		3
Asset impairments	—		15		—		—		13		—		7		6
AFUDC - Equity	(104)		(29)		(17)		(22)		(36)		(28)		(4)		(4)

__________

(a)Exelon's amounts include amounts related to Generation prior to the separation. See Note 2 — Discontinued Operations for additional information.

(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.

(c)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 BGE, Pepco, and DPL, reflects the change in regulatory assets and liabilities associated with their decoupling mechanisms and transmission formula rates. For PECO and ACE, reflects the change in regulatory assets and liabilities associated with their 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.


	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
December 31, 2022
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 long-term assets	117		117		—		—		—		—		—		—
Total cash, restricted cash, and cash equivalents	$	1,090	$	511	$	68	$	67	$	373	$	99	$	152	$	72

December 31, 2021
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 long-term 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

December 31, 2020
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 long-term 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

December 31, 2019
Cash and cash equivalents	$	587	$	90	$	21	$	24	$	131	$	30	$	13	$	12
Restricted cash and cash equivalents	358		150		6		1		36		33		—		2
Restricted cash included in other long-term assets	177		163		—		—		14		—		—		14
Total cash, restricted cash, and cash equivalents(a)	$	1,122	$	403	$	27	$	25	$	181	$	63	$	13	$	28

__________

(a)Exelon's amounts include amounts related to Generation prior to the separation. See Note 2 — Discontinued Operations for additional information.

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
December 31, 2022
Equity method investments:
Other equity method investments	$	16	$	6	$	8	$	—	$	—	$	—
Other investments:
Employee benefit trusts and investments(a)	216		—		22		7		138		119
Total investments	$	232	$	6	$	30	$	7	$	138	$	119

December 31, 2021
Equity method investments:
Other equity method investments	$	15	$	6	$	7	$	—	$	—	$	—
Other investments:
Employee benefit trusts and investments(a)	235		—		27		14		145		120

Total investments	$	250	$	6	$	34	$	14	$	145	$	120

__________

(a)The Registrants’ debt and equity security investments are recorded at fair market value.


	Accrued expenses
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
December 31, 2022
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

December 31, 2021
Compensation-related accruals(a)	$	596	$	155	$	77	$	78	$	113	$	35	$	20	$	17
Taxes accrued	253		94		14		53		96		88		9		11
Interest accrued	297		116		41		44		52		28		8		11

__________

(a)Primarily includes accrued payroll, bonuses and other incentives, vacation, and benefits.

Schedule I - Condensed Financial Information of Parent (Exelon Corporate) - Related Party Transactions - Summary of Related Party Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 31, 2022
Related Party Transaction [Line Items]
Payables to affiliates, current	$ 5	$ 5
Exelon Foundation Charitable Contribution	20
Exelon Corporate [Member]
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	4	14	$ 10
Interest income from affiliates, net	5	0	1
Equity in earnings of unconsolidated affiliates	2,450	1,908	1,482
Contributions from member	2,027	1,842	1,638
Accounts receivable from affiliates, current	17	35
Note receivable from affiliates, current	182	217
Investments in affiliates	35,925	29,563
Payables to affiliates, current	360	360
Exelon Corporate [Member] \| Exelon Business Services Co Affiliate [Member]
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	4	14	10
Interest income from affiliates, net	4	0	1
Equity in earnings of unconsolidated affiliates	(18)	(301)	(273)
Accounts receivable from affiliates, current	3	4
Note receivable from affiliates, current	138	210
Investments in affiliates	384	146
Exelon Corporate [Member] \| Other Affiliate [Member]
Related Party Transaction [Line Items]
Equity in earnings of unconsolidated affiliates	(1)	2	27
Investments in affiliates	(2)	(3,663)
Exelon Corporate [Member] \| Exelon Generation Co L L C [Member]
Related Party Transaction [Line Items]
Accounts receivable from affiliates, current	0	13
Notes receivable from affiliates, noncurrent	0	319		$ 258
Exelon Corporate [Member] \| Exelon Energy Delivery Company LLC [Member]
Related Party Transaction [Line Items]
Interest income from affiliates, net	1	0	0
Equity in earnings of unconsolidated affiliates	2,482	2,215	1,729
Investments in affiliates	35,092	32,621
Exelon Corporate [Member] \| UII LLC [Member]
Related Party Transaction [Line Items]
Investments in affiliates	365	365
Payables to affiliates, current	360	360
Exelon Corporate [Member] \| Potomac Capital Investment Affiliate [Member]
Related Party Transaction [Line Items]
Equity in earnings of unconsolidated affiliates	(9)	(1)	0
Investments in affiliates	52	62
Exelon Corporate [Member] \| Exelon Enterprise [Member]
Related Party Transaction [Line Items]
Accounts receivable from affiliates, current	0	1
Investments in affiliates	3	3
Exelon Corporate [Member] \| Exelon INQB8R, LLC [Member] [Member]
Related Party Transaction [Line Items]
Equity in earnings of unconsolidated affiliates	(4)	(7)	$ (1)
Investments in affiliates	15	26
Exelon Corporate [Member] \| Commonwealth Edison Co [Member]
Related Party Transaction [Line Items]
Accounts receivable from affiliates, current	4	5
Exelon Corporate [Member] \| PECO Energy Co [Member]
Related Party Transaction [Line Items]
Accounts receivable from affiliates, current	2	4
Exelon Corporate [Member] \| Baltimore Gas and Electric Company [Member]
Related Party Transaction [Line Items]
Accounts receivable from affiliates, current	1	2
Exelon Corporate [Member] \| PHI Service Co Affiliate [Member]
Related Party Transaction [Line Items]
Accounts receivable from affiliates, current	7	6
Exelon Corporate [Member] \| Pepco Holdings LLC Affiliate [Member]
Related Party Transaction [Line Items]
Note receivable from affiliates, current	44	7
Exelon Corporate [Member] \| VEBA [Member]
Related Party Transaction [Line Items]
Investments in affiliates	4	3
Exelon Corporate [Member] \| Connectiv, LLC
Related Party Transaction [Line Items]
Investments in affiliates	$ 12	$ 0

Property, Plant and Equipment - Summary of Capitalized Interest and AFUDC (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Capitalized Interest And AFUDC [Line Items]
Allowance for Funds Used During Construction, Capitalized Interest	$ 215	$ 189	$ 150
Commonwealth Edison Co [Member]
Capitalized Interest And AFUDC [Line Items]
Allowance for Funds Used During Construction, Capitalized Interest	54	47	42
PECO Energy Co [Member]
Capitalized Interest And AFUDC [Line Items]
Allowance for Funds Used During Construction, Capitalized Interest	42	34	23
Baltimore Gas and Electric Company [Member]
Capitalized Interest And AFUDC [Line Items]
Allowance for Funds Used During Construction, Capitalized Interest	29	36	30
Pepco Holdings LLC [Member]
Capitalized Interest And AFUDC [Line Items]
Allowance for Funds Used During Construction, Capitalized Interest	90	72	55
Potomac Electric Power Company [Member]
Capitalized Interest And AFUDC [Line Items]
Allowance for Funds Used During Construction, Capitalized Interest	69	59	42
Delmarva Power & Light Company [Member]
Capitalized Interest And AFUDC [Line Items]
Allowance for Funds Used During Construction, Capitalized Interest	10	8	6
Atlantic City Electric Company [Member]
Capitalized Interest And AFUDC [Line Items]
Allowance for Funds Used During Construction, Capitalized Interest	$ 11	$ 5	$ 7

Schedule I - Condensed Financial Information of Parent (Exelon Corporate) - Debt and Credit Agreements - Narrative (Details) - USD ($) $ in Millions				12 Months Ended
	Oct. 11, 2022	Aug. 11, 2022	Jan. 24, 2022	Dec. 31, 2022	Oct. 07, 2022	Feb. 01, 2022	Jan. 31, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Proceeds from (Repayments of) Debt		$ 575
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				$ 4,000
Line of credit facility, remaining borrowing capacity				3,992
Commercial Paper
Line of Credit Facility [Line Items]
Commercial Paper				1,938				$ 599
Line of credit facility, maximum borrowing capacity				4,000				3,700
Corporate, Non-Segment [Member]
Line of Credit Facility [Line Items]
Proceeds from (Repayments of) Debt	$ 575	$ 575
Corporate, Non-Segment [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				900		$ 900	$ 600
Line of credit facility, remaining borrowing capacity				448
Corporate, Non-Segment [Member] \| ShortTermDebt03232017 [Member]
Line of Credit Facility [Line Items]
Short-Term Loans				500
Corporate, Non-Segment [Member] \| ShortTermDebt03312021.2 [Member]
Line of Credit Facility [Line Items]
Short-Term Loans				150
Corporate, Non-Segment [Member] \| ShortTermDebt03312021.1 [Member]
Line of Credit Facility [Line Items]
Short-Term Loans				150
Corporate, Non-Segment [Member] \| ShortTermDebt01242022
Line of Credit Facility [Line Items]
Short-Term Loans			$ 1,150
Corporate, Non-Segment [Member] \| CorpTermLoanApr2024 \| Notes Payable to Banks
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount					$ 500
Corporate, Non-Segment [Member] \| Commercial Paper
Line of Credit Facility [Line Items]
Commercial Paper				449				0
Line of credit facility, maximum borrowing capacity				$ 900				$ 600
Corporate, Non-Segment [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| ShortTermDebt03312021.2 [Member]
Line of Credit Facility [Line Items]
Short-Term Loans, Interest rate terms				0.65
Corporate, Non-Segment [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| ShortTermDebt03312021.1 [Member]
Line of Credit Facility [Line Items]
Short-Term Loans, Interest rate terms				0.65
Corporate, Non-Segment [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, interest rate at period end						1.275%
Corporate, Non-Segment [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| ShortTermDebt03232017 [Member]
Line of Credit Facility [Line Items]
Short-Term Loans, Interest rate terms				0.65
Corporate, Non-Segment [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| ShortTermDebt01242022
Line of Credit Facility [Line Items]
Short-Term Loans, Interest rate terms			0.75
Corporate, Non-Segment [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| ShortTermDebtSOFRplus075PLUS22.5BPincreaseJan2023
Line of Credit Facility [Line Items]
Short-Term Loans, Interest rate terms				0.975

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Common Stock Warrants [Table Text Block]


	December 31,
	2022	2021
Warrants outstanding	60,052	60,061
Common Stock reserved for conversion	20,017	20,020

Preferred Stock [Table Text Block]


			Preferred Securities Authorized
Exelon			100,000,000
ComEd			850,000
PECO			15,000,000
BGE			1,000,000
Pepco			6,000,000
ACE(a)			2,799,979

_________

(a)Includes 799,979 shares of cumulative preferred stock and 2,000,000 of no-par preferred stock as of December 31, 2022 and 2021.

Preference Securities [Table Text Block]


			Preference Securities Authorized
ComEd			6,810,451
BGE(a)			6,500,000
ACE			3,000,000

__________

(a)Includes 4,600,000 shares of unclassified preference securities and 1,900,000 shares of previously redeemed preference securities as of December 31, 2022 and 2021.

Fair Value of Financial Assets and Liabilities - Fair Value Reconciliation of Level 3 Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ (182)	$ (267)
Total realized / unrealized gains (losses)
Included in net income	5	3
Included in regulatory assets/liabilities	135	82
Purchases, sales, issuances and settlements
Settlements	0	(2)
Transfers into Level 3		2
Transfers out of Level 3	(2)
Ending Balance	(44)	(182)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	5	3
Commonwealth Edison Co [Member] \| Derivative [Member] \| Interest Rate Swap [Member]
Purchases, sales, issuances and settlements
Realized Investment Gains (Losses)	(1)	20
Commonwealth Edison Co [Member] \| Derivative [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	(219)	(301)
Total realized / unrealized gains (losses)
Included in net income	0	0
Included in regulatory assets/liabilities	135	82
Purchases, sales, issuances and settlements
Settlements	0	0
Transfers into Level 3		0
Transfers out of Level 3	0
Ending Balance	(84)	(219)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	0	0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease)	(136)	(62)
Pepco Holdings LLC [Member] \| 6311 Life Insurance [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	35	34
Total realized / unrealized gains (losses)
Included in net income	5	3
Included in regulatory assets/liabilities	0	0
Purchases, sales, issuances and settlements
Settlements	0	(2)
Transfers into Level 3		0
Transfers out of Level 3	0
Ending Balance	40	35
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	5	3
Potomac Electric Power Company [Member] \| 6311 Life Insurance [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	35	34
Total realized / unrealized gains (losses)
Included in net income	5	3
Included in regulatory assets/liabilities	0	0
Purchases, sales, issuances and settlements
Settlements	0	(2)
Transfers into Level 3		0
Transfers out of Level 3	0
Ending Balance	40	35
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ 5	$ 3

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Business Description and Basis of Presentation (All Registrants)

Description of Business (All Registrants)

Exelon is a utility services holding company engaged in the energy distribution and transmission businesses through ComEd, PECO, BGE, Pepco, DPL, and ACE.

Name of Registrant

Business

Service Territories

Commonwealth Edison Company

Purchase and regulated retail sale of electricity

Northern Illinois, including the City of Chicago

Transmission and distribution of electricity to retail customers

PECO Energy Company

Purchase and regulated retail sale of electricity and natural gas

Southeastern Pennsylvania, including the City of Philadelphia (electricity)

Transmission and distribution of electricity and distribution of natural gas to retail customers

Pennsylvania counties surrounding the City of Philadelphia (natural gas)

Baltimore Gas and Electric Company

Purchase and regulated retail sale of electricity and natural gas

Central Maryland, including the City of Baltimore (electricity and natural gas)

Transmission and distribution of electricity and distribution of natural gas to retail customers

Pepco Holdings LLC

Utility services holding company engaged, through its reportable segments Pepco, DPL, and ACE

Service Territories of Pepco, DPL, and ACE

Potomac Electric Power Company

Purchase and regulated retail sale of electricity

District of Columbia, and major portions of Montgomery and Prince George’s Counties, Maryland.

Transmission and distribution of electricity to retail customers

Delmarva Power & Light Company

Purchase and regulated retail sale of electricity and natural gas

Portions of Delaware and Maryland (electricity)

Transmission and distribution of electricity and distribution of natural gas to retail customers

Portions of New Castle County, Delaware (natural gas)

Atlantic City Electric Company

Purchase and regulated retail sale of electricity

Portions of Southern New Jersey

Transmission and distribution of electricity to retail customers

Basis of Presentation (All Registrants)

Use Of Estimates (All Registrants)

Use of Estimates (All Registrants)The preparation of financial statements of each of the Registrants in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Areas in which significant estimates have been made include, but are not limited to, the accounting for pension and OPEB, unbilled energy revenues, allowance for credit losses, inventory reserves, goodwill and long-lived asset impairment assessments, derivative instruments, unamortized energy contracts, fixed asset depreciation, environmental costs and other loss contingencies, AROs, and taxes. Actual results could differ from those estimates.

Reclassification, Comparability Adjustment

Prior Period Adjustments and Reclassifications (Exelon, PHI, ACE)

The error was corrected in the Exelon and PHI financial statements for the year ended December 31, 2022 as it was not material, resulting in an increase to Net income of $8 million.

Accounting for the Effects of Regulation (All Registrants)

Regulatory Accounting (All Registrants)

Revenues (All Registrants)

Taxes Directly Imposed on Revenue-Producing Transactions

Leases (All Registrants)

See Note 10 — Leases for additional information.

Income Taxes (All Registrants)

Cash and Cash Equivalents (All Registrants)

The Registrants consider investments purchased with an original maturity of three months or less to be cash equivalents.

Restricted Cash and Cash Equivalents (All Registrants)


Registrant			Description
Exelon			Payment of medical, dental, vision, and long-term disability benefits, in addition to the items listed below for the Utility Registrants.
ComEd			Collateral held from suppliers associated with energy and REC procurement contracts, any over-recovered RPS costs and alternative compliance payments received from RES pursuant to FEJA, and costs for the remediation of an MGP site.
PECO			Proceeds from the sales of assets that were subject to PECO’s mortgage indenture.
BGE			Proceeds from the loan program for the completion of certain energy efficiency measures and collateral held from energy suppliers.
PHI(a)			Payment of merger commitments, collateral held from its energy suppliers associated with procurement contracts, and repayment of Transition Bonds
Pepco			Payment of merger commitments and collateral held from energy suppliers.
DPL			Collateral held from energy suppliers.
ACE(a)			Repayment of Transition Bonds

__________

(a) As of December 31, 2021, the Transition Bonds were fully redeemed.

See Note 16 — Debt and Credit Agreements and Note 22 — Supplemental Financial Information for additional information.

Allowance for Credit Losses on Accounts Receivables (All Registrants)

Inventories (All Registrants)

Property Plant And Equipment (All Registrants)

Property, Plant, and Equipment (All Registrants)

See Note 7 — Property, Plant, and Equipment, Note 8 — Jointly Owned Electric Utility Plant and Note 22 — Supplemental Financial Information for additional information.

Depreciation and Amortization (All Registrants)

Depreciation and amortization in the Registrants’ Consolidated Statements of Operations and Comprehensive Income when the recovery period is more than one year.

See Note 3 — Regulatory Matters and Note 22 — Supplemental Financial Information for additional information regarding the amortization of the Registrants' regulatory assets.

Asset Retirement Obligations (All Registrants)

Guarantees (All Registrants)

Asset Impairments

Derivatives Financial Instruments (All Registrants)

Derivative Financial Instruments (All Registrants)

nature of the hedged item. See Note 3 — Regulatory Matters and Note 15 — Derivative Financial Instruments for additional information.

Retirement Benefits (All Registrants)

Exelon sponsors defined benefit pension plans and OPEB plans for substantially all current employees.

Revenue from Contracts with Customers - Contract Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Contract Liabilities [Roll Forward]
Beginning Balance - Contract Liabilities	$ 109	$ 118
Contract with Customer, Liability, Revenue Recognized	(8)	(9)
Ending Balance - Contract Liabilities	101	109
Pepco Holdings LLC [Member]
Contract Liabilities [Roll Forward]
Beginning Balance - Contract Liabilities	109	118
Contract with Customer, Liability, Revenue Recognized	(8)	(9)
Ending Balance - Contract Liabilities	101	109
Potomac Electric Power Company [Member]
Contract Liabilities [Roll Forward]
Beginning Balance - Contract Liabilities	87	94
Contract with Customer, Liability, Revenue Recognized	(6)	(7)
Ending Balance - Contract Liabilities	81	87
Delmarva Power & Light Company [Member]
Contract Liabilities [Roll Forward]
Beginning Balance - Contract Liabilities	11	12
Contract with Customer, Liability, Revenue Recognized	(1)	(1)
Ending Balance - Contract Liabilities	10	11
Atlantic City Electric Company [Member]
Contract Liabilities [Roll Forward]
Beginning Balance - Contract Liabilities	11	12
Contract with Customer, Liability, Revenue Recognized	(1)	(1)
Ending Balance - Contract Liabilities	$ 10	$ 11

Debt and Credit Agreements - Schedule of Long-term Debt Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
2023	$ 1,802
2024	1,317
2025	1,414
2026	1,613
2027	1,021
Thereafter	30,002
Long-term Debt	37,169
Long-term debt to financing trusts	390	$ 390
Long-term debt to financing trusts [Member]
Debt Instrument [Line Items]
Long-term debt to financing trusts	390	390
ComEd Financing III Affiliate [Member]
Debt Instrument [Line Items]
Long-term debt to financing trusts	206	206
ComEd Financing III Affiliate [Member] \| Long-term debt to financing trusts [Member]
Debt Instrument [Line Items]
Long-term debt to financing trusts	206	206
Commonwealth Edison Co [Member]
Debt Instrument [Line Items]
2023	0
2024	250
2025	0
2026	500
2027	350
Thereafter	9,743
Long-term Debt	10,843
Long-term debt to financing trusts	205	205
Commonwealth Edison Co [Member] \| Long-term debt to financing trusts [Member]
Debt Instrument [Line Items]
Long-term debt to financing trusts	206	206
Commonwealth Edison Co [Member] \| ComEd Financing III Affiliate [Member]
Debt Instrument [Line Items]
Long-term debt to financing trusts	205	205
Commonwealth Edison Co [Member] \| ComEd Financing III Affiliate [Member] \| Long-term debt to financing trusts [Member]
Debt Instrument [Line Items]
Long-term debt to financing trusts	206	206
PECO Energy Co [Member]
Debt Instrument [Line Items]
2023	50
2024	0
2025	350
2026	0
2027	0
Thereafter	4,459
Long-term Debt	4,859
Long-term debt to financing trusts	184	184
PECO Energy Co [Member] \| ComEd Financing III Affiliate [Member]
Debt Instrument [Line Items]
Long-term debt to financing trusts	0	$ 0
PECO Energy Co [Member] \| PECO Financing Trusts [Member] \| Long-term debt to financing trusts [Member]
Debt Instrument [Line Items]
Long-term debt to financing trusts	184
Baltimore Gas and Electric Company [Member]
Debt Instrument [Line Items]
2023	300
2024	0
2025	0
2026	350
2027	0
Thereafter	3,600
Long-term Debt	4,250
Pepco Holdings LLC [Member]
Debt Instrument [Line Items]
2023	591
2024	564
2025	242
2026	13
2027	21
Thereafter	6,270
Long-term Debt	7,701
Potomac Electric Power Company [Member]
Debt Instrument [Line Items]
2023	4
2024	405
2025	5
2026	4
2027	3
Thereafter	3,379
Long-term Debt	3,800
Delmarva Power & Light Company [Member]
Debt Instrument [Line Items]
2023	584
2024	6
2025	84
2026	6
2027	15
Thereafter	1,254
Long-term Debt	1,949
Atlantic City Electric Company [Member]
Debt Instrument [Line Items]
2023	3
2024	153
2025	153
2026	3
2027	3
Thereafter	1,452
Long-term Debt	$ 1,767

Income Taxes (All Registrants)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes (All Registrants)

Components of Income Tax Expense or Benefit

Income tax expense (benefit) from continuing operations is comprised of the following components:


	For the Year Ended December 31, 2022
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Included in operations:
Federal
Current	$	(24)	$	29	$	13	$	(1)	$	16	$	9	$	(2)	$	6
Deferred	106		117		18		(3)		(23)		(2)		2		(15)
Investment tax credit amortization	(3)		(1)		—		—		(1)		—		—		—
State
Current	(13)		(6)		(4)		—		2		—		—		—
Deferred	283		125		52		12		15		(16)		14		12
Total	$	349	$	264	$	79	$	8	$	9	$	(9)	$	14	$	3


	For the Year Ended December 31, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Included in operations:
Federal
Current	$	(152)	$	(30)	$	1	$	(18)	$	18	$	22	$	2	$	1
Deferred	89		113		20		34		(52)		(17)		(14)		(26)
Investment tax credit amortization	(2)		(1)		—		—		(1)		—		—		—
State
Current	(46)		(41)		—		—		—		1		1		—
Deferred	149		131		(9)		(51)		77		9		53		12
Total	$	38	$	172	$	12	$	(35)	$	42	$	15	$	42	$	(13)


	For the Year Ended December 31, 2020
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Included in operations:
Federal
Current	$	(180)	$	(24)	$	(7)	$	4	$	25	$	40	$	(13)	$	(4)
Deferred	10		112		1		10		(129)		(62)		(20)		(43)
Investment tax credit amortization	(3)		(2)		—		—		(1)		—		—		—
State
Current	(37)		(27)		—		—		(5)		—		—		—
Deferred	203		118		(24)		27		33		15		8		6
Total	$	(7)	$	177	$	(30)	$	41	$	(77)	$	(7)	$	(25)	$	(41)

Rate Reconciliation

The effective income tax rate from continuing operations varies from the U.S. federal statutory rate principally due to the following:


	For the Year Ended December 31, 2022(a)
	Exelon		ComEd		PECO(b)		BGE(b)		PHI(b)		Pepco(b)		DPL(b)		ACE(b)
U.S. federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of Federal income tax benefit(c)	8.8		8.0		5.8		2.6		2.1		(4.1)		6.5		6.9
Plant basis differences	(4.1)		(0.6)		(11.9)		(1.0)		(1.7)		(2.7)		(0.7)		(0.7)
Excess deferred tax amortization	(11.8)		(5.6)		(3.0)		(19.8)		(19.5)		(16.8)		(18.4)		(24.5)
Amortization of investment tax credit, including deferred taxes on basis differences	(0.1)		(0.1)		—		(0.1)		(0.1)		—		(0.2)		(0.2)
Tax credits(d)	0.1		(0.3)		—		(0.7)		(0.7)		(0.7)		(0.6)		(0.5)
Other(e)	0.6		—		0.2		0.1		0.4		0.3		0.1		—
Effective income tax rate	14.5	%	22.4	%	12.1	%	2.1	%	1.5	%	(3.0)	%	7.7	%	2.0	%


	For the Year Ended December 31, 2021(a)
	Exelon		ComEd		PECO(f)		BGE(f)		PHI		Pepco(f)		DPL(f)		ACE(f)
U.S. federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of federal income tax benefit	5.0		7.8		(1.4)		(10.8)		10.1		2.7		25.0		7.4
Plant basis differences	(5.4)		(0.8)		(13.6)		(1.7)		(1.1)		(1.6)		(0.8)		(0.2)
Excess deferred tax amortization	(17.2)		(7.6)		(3.8)		(16.3)		(22.4)		(16.4)		(20.0)		(37.1)
Amortization of investment tax credit, including deferred taxes on basis differences	(0.1)		(0.1)		—		(0.1)		(0.1)		—		(0.2)		(0.2)
Tax credits	(0.7)		(0.5)		—		(0.9)		(0.5)		(0.5)		(0.4)		(0.5)
Other	(0.3)		(1.0)		0.1		(0.6)		—		(0.4)		0.1		(0.2)
Effective income tax rate	2.3	%	18.8	%	2.3	%	(9.4)	%	7.0	%	4.8	%	24.7	%	(9.8)	%


	For the Year Ended December 31, 2020(a)
	Exelon		ComEd(g)		PECO(g)		BGE(h)		PHI(h)		Pepco(h)		DPL(h)		ACE(h)
U.S. federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of federal income tax benefit	11.9		11.6		(4.5)		5.5		5.1		4.5		6.6		7.0
Plant basis differences	(8.6)		(0.6)		(18.7)		(1.5)		(1.6)		(1.7)		(0.4)		(3.0)
Excess deferred tax amortization	(29.1)		(11.2)		(4.6)		(13.9)		(42.0)		(25.4)		(51.7)		(82.1)
Amortization of investment tax credit, including deferred taxes on basis differences	(0.3)		(0.3)		—		(0.1)		(0.2)		(0.1)		(0.3)		(0.5)
Tax credits	(0.5)		(0.3)		—		(0.4)		(0.3)		(0.3)		(0.3)		(0.5)
Deferred Prosecution Agreement payments	3.8		6.8		—		—		—		—		—		—
Other	1.2		1.8		(0.4)		(0.1)		(0.4)		(0.7)		0.1		0.4
Effective income tax rate	(0.6)	%	28.8	%	(7.2)	%	10.5	%	(18.4)	%	(2.7)	%	(25.0)	%	(57.7)	%

__________

(a)Positive percentages represent income tax expense. Negative percentages represent income tax benefit.

(b)For PECO, the lower effective tax rate is primarily related to plant basis differences attributable to tax repair deductions partially offset by higher state income taxes, net of federal income tax benefit, related to a one-time expense of $38 million attributable to the change in the Pennsylvania corporate income tax rate. For BGE, PHI, Pepco, DPL, and ACE, the lower effective tax rate is primarily related to the acceleration of certain income tax benefits due to distribution and transmission rate case settlements.

(c)For Exelon, the higher state income taxes, net of federal income tax benefit, is primarily due to the long-term marginal state income tax rate change of $67 million and the recognition of a valuation allowance of $40 million against the net deferred tax asset position for certain standalone state filing jurisdictions, partially offset by a one-time impact associated with a state tax benefit of $43 million and indemnification adjustments pursuant to the Tax Matters Agreement of $11 million as a result of the separation. For PECO, the higher state income taxes, net of federal income tax benefit, related to a one-time expense of $38 million attributable to the change in the Pennsylvania corporate income tax rate.

(d)For Exelon, reflects the income tax expense related to the write-off of federal tax credits subject to recapture of $15 million as a result of the separation.

(e)For Exelon, reflects the nondeductible transaction costs of approximately $12 million arising as part of the separation and indemnification adjustments pursuant to the Tax Matters Agreement of $9 million.

(f)For PECO, the lower effective tax rate is primarily related to plant basis differences attributable to tax repair deductions. For BGE, the income tax benefit is primarily due to the Maryland multi-year plan which resulted in the acceleration of certain income tax benefits. For Pepco, the lower effective tax rate is primarily related to the acceleration of certain income tax benefits due to distribution and transmission rate case settlements. For DPL, the higher effective tax rate is primarily related to a state income tax expense, net of federal income tax benefit, due to the recognition of a valuation allowance of approximately $31 million against a deferred tax asset associated with Delaware net operating loss carryforwards as a result of a change in Delaware tax law. For ACE, the income tax benefit is primarily due to a distribution rate case settlement which allows ACE to retain certain tax benefits.

(g)For ComEd, the higher effective tax rate is primarily related to the nondeductible DPA payments. For PECO, the negative effective tax rate is primarily related to an increase in plant basis differences attributable to tax repair deductions related to an increase in storms and qualifying projects in 2021.

(h)For BGE, PHI, Pepco, DPL, and ACE, the income tax benefit is primarily attributable to accelerated amortization of transmission related deferred income tax regulatory liabilities as a result of regulatory settlements. See Note 3 — Regulatory Matters for additional information.

Tax Differences and Carryforwards

The tax effects of temporary differences and carryforwards, which give rise to significant portions of the deferred tax assets (liabilities), as of December 31, 2022 and 2021 are presented below:


	As of December 31, 2022
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Plant basis differences	$	(12,130)	$	(4,823)	$	(2,119)	$	(1,949)	$	(3,131)	$	(1,394)	$	(906)	$	(813)
Accrual based contracts	10		—		—		—		10		—		—		—
Derivatives and other financial instruments	26		23		—		—		2		—		—		—
Deferred pension and postretirement obligation	551		(300)		(31)		(31)		(80)		(76)		(39)		(3)
Deferred debt refinancing costs	132		(5)		—		(2)		111		(4)		(2)		(1)
Regulatory assets and liabilities	(1,107)		(131)		(169)		57		(50)		7		43		11
Tax loss carryforward, net of valuation allowances	250		—		33		72		71		3		20		46
Tax credit carryforward	468		—		—		—		—		—		—		—
Investment in partnerships	(21)		—		—		—		—		—		—		—
Other, net	591		223		73		23		182		83		16		28
Deferred income tax liabilities (net)	$	(11,230)	$	(5,013)	$	(2,213)	$	(1,830)	$	(2,885)	$	(1,381)	$	(868)	$	(732)
Unamortized investment tax credits	(14)		(8)		—		(2)		(4)		(1)		(1)		(2)
Total deferred income tax liabilities (net) and unamortized investment tax credits	$	(11,244)	$	(5,021)	$	(2,213)	$	(1,832)	$	(2,889)	$	(1,382)	$	(869)	$	(734)


	As of December 31, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Plant basis differences	$	(11,606)	$	(4,648)	$	(2,271)	$	(1,826)	$	(2,976)	$	(1,321)	$	(853)	$	(777)
Accrual based contracts	56		—		—		—		56		—		—		—
Derivatives and other financial instruments	63		61		—		—		2		—		—		—
Deferred pension and postretirement obligation	641		(308)		(32)		(37)		(90)		(76)		(40)		(6)
Deferred debt refinancing costs	146		(6)		—		(2)		123		(2)		(1)		(1)
Regulatory assets and liabilities	(1,130)		8		(280)		92		(53)		24		55		31
Tax loss carryforward, net of valuation allowances	242		—		65		68		64		2		18		42
Tax credit carryforward	584		—		—		—		—		—		—		—
Investment in partnerships	(21)		—		—		—		—		—		—		—
Other, net	449		216		97		21		212		99		19		34
Deferred income tax liabilities (net)	$	(10,576)	$	(4,677)	$	(2,421)	$	(1,684)	$	(2,662)	$	(1,274)	$	(802)	$	(677)
Unamortized investment tax credits	(15)		(8)		—		(2)		(5)		(1)		(1)		(2)
Total deferred income tax liabilities (net) and unamortized investment tax credits	$	(10,591)	$	(4,685)	$	(2,421)	$	(1,686)	$	(2,667)	$	(1,275)	$	(803)	$	(679)

The following table provides Exelon’s, PECO’s, BGE’s, PHI’s, Pepco’s, DPL’s, and ACE’s carryforwards, of which the state related items are presented on a post-apportioned basis, as well as, any corresponding valuation allowances as of December 31, 2022. ComEd does not have net operating losses or credit carryforwards for the year ended December 31, 2022.


	Exelon		PECO		BGE		PHI		Pepco		DPL		ACE
Federal


Federal general business credits carryforwards(a)	$	468	$	—	$	—	$	—	$	—	$	—	$	—
State
State net operating loss carryforwards	4,991		970		1,142		1,501		50		768		651
Deferred taxes on state tax attributes (net of federal taxes)	307		37		72		104		3		52		46
Valuation allowance on state tax attributes (net of federal taxes)(b)	57		4		—		33		—		32		—
Year in which net operating loss or credit carryforwards will begin to expire(c)	2035		2032		2033		2029		N/A		2032		2031

__________

(a)For Exelon, the federal general business credit carryforward will begin expiring in 2035.

(b)For Exelon, a full valuation allowance has been recorded against certain separate company state net operating loss carryforwards that are expected to expire before realization. For PECO, a valuation allowance has been recorded against certain Pennsylvania net operating losses that are expected to expire before realization. For DPL, a full valuation allowance has been recorded against Delaware net operating losses carryforwards due to a change in Delaware tax law.

(c)A portion of Exelon's, BGE's, Pepco's, and DPL's Maryland state net operating loss carryforward have an indefinite carryforward period.

Tabular Reconciliation of Unrecognized Tax Benefits

The following table presents changes in unrecognized tax benefits, for Exelon, PHI, and ACE. ComEd's, PECO's, BGE's, Pepco's, and DPL's amounts are not material.


	Exelon(a)		PHI		ACE
Balance at January 1, 2020	$	95	$	48	$	14
Change to positions that only affect timing	6		3		1
Increases based on tax positions related to 2020	3		—		—
Increases based on tax positions prior to 2020	26		1		—
Decreases based on tax positions prior to 2020	(5)		—		—

Balance at December 31, 2020	125		52		15
Change to positions that only affect timing	13		3		1
Increases based on tax positions related to 2021	4		1		—
Increases based on tax positions prior to 2021	4		—		—
Decreases based on tax positions prior to 2021	(3)		—		—
Balance at December 31, 2021	143		56		16
Change to positions that only affect timing	(1)		1		1
Increases based on tax positions related to 2022	3		2		—
Increases based on tax positions prior to 2022	3		—		—
Decreases based on tax positions prior to 2022	—		—		—

Balance at December 31, 2022	$	148	$	59	$	17

______

(a)As of December 31, 2022, Exelon recorded a receivable of $50 million in noncurrent Other assets in the Consolidated Balance Sheet for Constellation’s share of unrecognized tax benefits for periods prior to the separation.

Recognition of unrecognized tax benefits

The following table presents Exelon's unrecognized tax benefits that, if recognized, would decrease the effective tax rate. The Utility Registrants' amounts are not material.


	Exelon



December 31, 2022	$	90
December 31, 2021	77
December 31, 2020	73

Reasonably possible the total amount of unrecognized tax benefits could significantly increase or decrease within 12 months after the reporting date

As of December 31, 2022, ACE has approximately $14 million of unrecognized state tax benefits that could significantly decrease within the 12 months after the reporting date based on the outcome of pending court cases involving other taxpayers. The unrecognized tax benefit, if recognized, may be included in future base rates and that portion would have no impact to the effective tax rate.

Total amounts of interest and penalties recognized

The following table represents the net interest and penalties receivable (payable) related to tax positions reflected in Exelon's Consolidated Balance Sheets. The Utility Registrants' amounts are not material.


Net interest and penalties receivable as of	Exelon
December 31, 2022 (a) (b)	$	45
December 31, 2021 (c)	43

__________

(a)As of December 31, 2022, the interest receivable balance is not expected to be settled in cash within the next twelve months and is therefore classified as a noncurrent receivable.

(b)As of December 31, 2022, Exelon recorded a receivable of $1 million in noncurrent Other assets in the Consolidated Balance Sheet for Constellation's share of net interest for periods prior to the separation.

(c)As of December 31, 2021, the interest receivable balance is not expected to be settled in cash within the next twelve months and is therefore classified as a noncurrent receivable. In December of 2021, Exelon received a refund of approximately $272 million related to an interest netting refund claim.

The Registrants did not record material interest and penalty expense related to tax positions reflected in their Consolidated Balance Sheets. Interest expense and penalty expense are recorded in Interest expense, net and Other, net, respectively, in Other income and deductions in the Registrants' Consolidated Statements of Operations and Comprehensive Income.

Description of tax years open to assessment by major jurisdiction


Major Jurisdiction	Open Years	Registrants Impacted
Federal consolidated income tax returns(a)	2010-2021	All Registrants
Delaware separate corporate income tax returns	Same as federal	DPL
District of Columbia combined corporate income tax returns	2019-2021	Exelon, PHI, Pepco
Illinois unitary corporate income tax returns	2012-2021	Exelon, ComEd
Maryland separate company corporate net income tax returns	Same as federal	BGE, Pepco, DPL
New Jersey separate corporate income tax returns	2017-2018	Exelon
New Jersey combined corporate income tax returns	2019-2021	Exelon
New Jersey separate corporate income tax returns	2018-2021	ACE
New York combined corporate income tax returns	2015-2021	Exelon
Pennsylvania separate corporate income tax returns	2011-2016	Exelon
Pennsylvania separate corporate income tax returns	2019-2021	Exelon
Pennsylvania separate corporate income tax returns	2019-2021	PECO

__________

(a)Certain registrants are only open to assessment for tax years since joining the Exelon federal consolidated group; BGE beginning in 2012 and PHI, Pepco, DPL, and ACE beginning in 2016.

Other Tax Matters

Separation (Exelon)

In the first quarter of 2022, in connection with the separation, Exelon recorded an income tax expense related to continuing operations of $148 million primarily due to the long-term marginal state income tax rate change of $67 million discussed further below, the recognition of valuation allowances of approximately $40 million against the net deferred tax assets positions for certain standalone state filing jurisdictions, the write-off of federal and state tax credits subject to recapture of $17 million, and nondeductible transaction costs for federal and state taxes of $24 million.

Tax Matters Agreement (Exelon)

In connection with the separation, Exelon entered into a TMA with Constellation. The TMA governs the respective rights, responsibilities, and obligations between Exelon and Constellation after the separation with respect to tax liabilities, refunds and attributes for open tax years that Constellation was part of Exelon’s consolidated group for U.S. federal, state, and local tax purposes.

Indemnification for Taxes. As a former subsidiary of Exelon, Constellation has joint and several liability with Exelon to the IRS and certain state jurisdictions relating to the taxable periods prior to the separation. The TMA specifies that Constellation is liable for their share of taxes required to be paid by Exelon with respect to taxable periods prior to the separation to the extent Constellation would have been responsible for such taxes under the existing Exelon tax sharing agreement. As a result, as of March 31, 2022, Exelon recorded a receivable of $55 million in Current other assets in the Consolidated Balance Sheet for Constellation’s share of taxes for periods

prior to the separation. As of December 31, 2022, Exelon recorded a payable of $18 million in Current other liabilities that is due to Constellation.

Tax Refunds. The TMA specifies that Constellation is entitled to their share of any future tax refunds claimed by Exelon with respect to taxable periods prior to the separation to the extent that Constellation would have received such tax refunds under the existing Exelon tax sharing agreement.

Tax Attributes. At the date of separation certain tax attributes, primarily pre-closing tax credit carryforwards, that were generated by Constellation were required by law to be allocated to Exelon. The TMA also provides that Exelon will reimburse Constellation when those allocated tax attribute carryforwards are utilized. As of March 31, 2022, Exelon recorded a payable of $11 million and $484 million in Current other liabilities and Noncurrent other liabilities, respectively, in the Consolidated Balance Sheet for tax credit carryforwards that are expected to be utilized and reimbursed to Constellation. As of December 31, 2022, the current and noncurrent payable amounts are $169 million and $362 million, respectively.

Long-Term Marginal State Income Tax Rate (All Registrants)

Quarterly, Exelon reviews and updates its marginal state income tax rates for material changes in state tax laws and state apportionment. The Registrants remeasure their existing deferred income tax balances to reflect the changes in marginal rates, which results in either an increase or a decrease to their net deferred income tax liability balances. Utility Registrants record corresponding regulatory liabilities or assets to the extent such amounts are probable of settlement or recovery through customer rates and an adjustment to income tax expense for all other amounts. In the first quarter of 2022, Exelon updated its marginal state income tax rates for changes in state apportionment due to the separation, which resulted in an increase of $67 million to the deferred tax liability at Exelon, and a corresponding adjustment to income tax expense, net of federal taxes. The impacts to ComEd, BGE, PHI, Pepco, DPL, and ACE for the years ended December 31, 2022, 2021, and 2020 were not material.


December 31, 2022	Exelon
Increase to Deferred Income Tax Liability and Income Tax Expense, Net of Federal Taxes	$	67

December 31, 2021
Increase to Deferred Income Tax Liability and Income Tax Expense, Net of Federal Taxes	$	27

December 31, 2020
Increase to Deferred Income Tax Liability and Income Tax Expense, Net of Federal Taxes	$	66

Pennsylvania Corporate Income Tax Rate Change (Exelon and PECO)

On July 8, 2022, Pennsylvania enacted House Bill 1342, which will permanently reduce the corporate income tax rate from 9.99% to 4.99%. The tax rate will be reduced to 8.99% for the 2023 tax year. Starting with the 2024 tax year, the rate is reduced by 0.50% annually until it reaches 4.99% in 2031. As a result of the rate change, in the third quarter of 2022, Exelon and PECO recorded a one-time decrease to deferred income taxes of $390 million with a corresponding decrease to the deferred income taxes regulatory asset of $428 million for the amounts that are expected to be settled through future customer rates and an increase to income tax expense of $38 million (net of federal taxes). The tax rate decrease is not expected to have a material ongoing impact to Exelon’s and PECO’s financial statements. PECO did not update its marginal state income tax rates for the years ended December 31, 2021 and 2020.

Allocation of Tax Benefits (All Registrants)

The Utility Registrants are party to an agreement with Exelon and other subsidiaries of Exelon that provides for the allocation of consolidated tax liabilities and benefits (Tax Sharing Agreement). The Tax Sharing Agreement provides that each party is allocated an amount of tax similar to that which would be owed had the party been separately subject to tax. In addition, any net federal and state benefits attributable to Exelon are reallocated to the other Registrants. That allocation is treated as a contribution from Exelon to the party receiving the benefit.

The following table presents the allocation of tax benefits from Exelon under the Tax Sharing Agreement, for the year ended December 31, 2022, 2021, and 2020.


	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
December 31, 2022(a)	$	1	$	47	$	—	$	28	$	23	$	3	$	2
December 31, 2021(b)	1		19		—		17		16		—		—
December 31, 2020(c)	14		17		—		17		8		6		1

__________

(a)BGE did not record an allocation of federal tax benefits from Exelon under the Tax Sharing Agreement as a result of a tax net operating loss.

(b)BGE, DPL, and ACE did not record an allocation of federal tax benefits from Exelon under the Tax Sharing Agreement as a result of a tax net operating loss.

(c)BGE did not record an allocation of federal tax benefits from Exelon under the Tax Sharing Agreement as a result of a tax net operating loss.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Auditor Information	12 Months Ended
Auditor Information	Dec. 31, 2022
Auditor [Line Items]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Chicago, Illinois
Auditor Firm ID	238

Debt and Credit Agreements - Summary of Bank Commitments, Credit Facility Borrowings and Available Capacity (Details) - Revolving Credit Facility [Member] - USD ($) $ in Millions	Dec. 31, 2022	Feb. 01, 2022	Jan. 31, 2022
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	$ 4,000
Long-term line of credit/facility draws	0
Outstanding letters of credit	8
Actual available capacity	3,992
To support additional commercial paper	2,054
Corporate, Non-Segment [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	900	$ 900	$ 600
Outstanding letters of credit	3
Actual available capacity	448
Commonwealth Edison Co [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	1,000	1,000
Long-term line of credit/facility draws	0
Outstanding letters of credit	5
Actual available capacity	995
To support additional commercial paper	568
PECO Energy Co [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	600	600
Long-term line of credit/facility draws	0
Outstanding letters of credit	0
Actual available capacity	600
To support additional commercial paper	361
Baltimore Gas and Electric Company [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	600	600
Long-term line of credit/facility draws	0
Outstanding letters of credit	0
Actual available capacity	600
To support additional commercial paper	191
Pepco Holdings LLC [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	900
Long-term line of credit/facility draws	0
Outstanding letters of credit	0
Actual available capacity	900
To support additional commercial paper	486
Potomac Electric Power Company [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	300	300
Long-term line of credit/facility draws	0
Outstanding letters of credit	0
Actual available capacity	300
To support additional commercial paper	1
Delmarva Power & Light Company [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	300	300
Long-term line of credit/facility draws	0
Outstanding letters of credit	0
Actual available capacity	300
To support additional commercial paper	185
Atlantic City Electric Company [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity	300	$ 300
Long-term line of credit/facility draws	0
Outstanding letters of credit	0
Actual available capacity	300
To support additional commercial paper	$ 300

Supplemental Financial Information - Summary of Other Income (Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other, Net [Abstract]
AFUDC—Equity	$ 150	$ 136	$ 104
Non-service net periodic benefit cost	63	91	53
Unrealized Gain (Loss) on Investments	(16)	(160)	186
Commonwealth Edison Co [Member]
Other, Net [Abstract]
AFUDC—Equity	35	34	29
Non-service net periodic benefit cost	0	0	0
PECO Energy Co [Member]
Other, Net [Abstract]
AFUDC—Equity	31	26	17
Non-service net periodic benefit cost	0	0	0
Baltimore Gas and Electric Company [Member]
Other, Net [Abstract]
AFUDC—Equity	21	27	22
Non-service net periodic benefit cost	0	0	0
Pepco Holdings LLC [Member]
Other, Net [Abstract]
AFUDC—Equity	63	49	36
Non-service net periodic benefit cost	0	0	0
Potomac Electric Power Company [Member]
Other, Net [Abstract]
AFUDC—Equity	48	40	28
Non-service net periodic benefit cost	0	0	0
Delmarva Power & Light Company [Member]
Other, Net [Abstract]
AFUDC—Equity	7	6	4
Non-service net periodic benefit cost	0	0	0
Atlantic City Electric Company [Member]
Other, Net [Abstract]
AFUDC—Equity	8	3	4
Non-service net periodic benefit cost	$ 0	$ 0	$ 0

Accounts Receivable - Purchases and Sales of Accounts Receivable (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	$ 3,981	$ 3,840
Commonwealth Edison Co [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	965	1,031
PECO Energy Co [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	1,081	1,041
Baltimore Gas and Electric Company [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	792	687
Pepco Holdings LLC [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	1,143	1,081
Potomac Electric Power Company [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	723	660
Delmarva Power & Light Company [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	205	217
Atlantic City Electric Company [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	215	204
Exelon Generation Co LLC Affiliate [Member] \| Commonwealth Edison Co [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Related Parties, Purchase		1
Exelon Generation Co LLC Affiliate [Member] \| PECO Energy Co [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Related Parties, Purchase		1
Exelon Generation Co LLC Affiliate [Member] \| Baltimore Gas and Electric Company [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Related Parties, Purchase	$ 4	$ 21

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2022

Valuation and Qualifying Accounts

Exelon Corporation and Subsidiary Companies

Schedule II – Valuation and Qualifying Accounts


Column A	Column B		Column C						Column D			Column E
			Additions and adjustments
Description	Balance at Beginning of Period		Charged to Costs and Expenses			Charged to Other Accounts			Deductions			Balance at End of Period
(In millions)
For the year ended December 31, 2022
Allowance for credit losses(a)	$	392	$	174	(b)	$	28		$	185	(c)	$	409
Deferred tax valuation allowance	37		—			57			—			94
Reserve for obsolete materials	13		8			—			6			15
For the year ended December 31, 2021
Allowance for credit losses(a)	$	405	$	107	(b)	$	—		$	120	(c)	$	392
Deferred tax valuation allowance	4		—			33		(d)	—			37
Reserve for obsolete materials	11		5			—			3			13
For the year ended December 31, 2020
Allowance for credit losses(a)	$	213	$	228	(b)	$	38		$	74	(c)	$	405
Deferred tax valuation allowance	2		—			2			—			4
Reserve for obsolete materials	12		5			—			6			11

__________

(a)Excludes the noncurrent allowance for credit losses related to PECO’s installment plan receivables of $7 million, $14 million, and $5 million for the years ended December 31, 2022, 2021, and 2020, respectively.

(b)The amount charged to costs and expenses includes the amount that was reclassified to regulatory assets/liabilities under different mechanisms applicable to the different jurisdictions the Utility Registrants operate in.

(c)Primarily reflects write-offs, net of recoveries of individual accounts receivable.

(d)DPL recorded a full valuation allowance against Delaware net operating losses carryforwards due to a change in Delaware tax law. See Note 13 — Income Taxes of the Combined Notes to Consolidated Financial Statements for additional information on the valuation allowance.

Commonwealth Edison Company and Subsidiary Companies

(2) ComEd


(i)						Financial Statements (Item 8):

						Report of Independent Registered Public Accounting Firm dated February 14, 2023 of PricewaterhouseCoopers LLP (PCAOB ID 238)

						Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2022, 2021, and 2020

						Consolidated Statements of Cash Flows for the Years Ended December 31, 2022, 2021, and 2020

						Consolidated Balance Sheets at December 31, 2022 and 2021

						Consolidated Statements of Changes in Shareholders’ Equity for the Years Ended December 31, 2022, 2021, and 2020

						Notes to Consolidated Financial Statements

(ii)						Financial Statement Schedule:

						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2022, 2021, and 2020

						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

Commonwealth Edison Company and Subsidiary Companies

Schedule II – Valuation and Qualifying Accounts


Column A	Column B		Column C					Column D			Column E
			Additions and adjustments
Description	Balance at Beginning of Period		Charged to Costs and Expenses			Charged to Other Accounts		Deductions			Balance at End of Period
(In millions)
For the year ended December 31, 2022
Allowance for credit losses	$	90	$	24	(a)	$	8	$	46	(b)	$	76
Reserve for obsolete materials	7		5			—		4			8
For the year ended December 31, 2021
Allowance for credit losses	$	118	$	18	(a)	$	1	$	47	(b)	$	90
Reserve for obsolete materials	6		3			—		2			7
For the year ended December 31, 2020
Allowance for credit losses	$	79	$	54	(a)	$	13	$	28	(b)	$	118
Reserve for obsolete materials	7		3			—		4			6

__________

(a)ComEd is allowed to recover from or refund to customers the difference between its annual credit loss expense and the amounts collected in rates annually through a rider mechanism. The amount charged to costs and expenses includes the amount that was reclassified to regulatory assets/liabilities under such mechanism. See Note 3 – Regulatory Matters of the Combined Notes to Consolidated Financial Statements for additional information.

(b)Write-offs, net of recoveries of individual accounts receivable.

PECO Energy Company and Subsidiary Companies

(3) PECO


(i)						Financial Statements (Item 8):

						Report of Independent Registered Public Accounting Firm dated February 14, 2023 of PricewaterhouseCoopers LLP (PCAOB ID 238)

						Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2022, 2021, and 2020

						Consolidated Statements of Cash Flows for the Years Ended December 31, 2022, 2021, and 2020

						Consolidated Balance Sheets at December 31, 2022 and 2021

						Consolidated Statements of Changes in Shareholder's Equity for the Years Ended December 31, 2022, 2021, and 2020

						Notes to Consolidated Financial Statements

(ii)						Financial Statement Schedule:

						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2022, 2021, and 2020

						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

PECO Energy Company and Subsidiary Companies

Schedule II – Valuation and Qualifying Accounts


Column A	Column B		Column C					Column D			Column E
			Additions and adjustments
Description	Balance at Beginning of Period		Charged to Costs and Expenses			Charged to Other Accounts		Deductions			Balance at End of Period
(In millions)
For the year ended December 31, 2022
Allowance for credit losses(a)	$	112	$	44	(b)	$	14	$	56	(c)	$	114
Deferred tax valuation allowance	3		—			4		—			7
Reserve for obsolete materials	2		2			—		1			3
For the year ended December 31, 2021
Allowance for credit losses(a)	$	124	$	32	(b)	$	(6)	$	38	(c)	$	112
Deferred tax valuation allowance	1		—			2		—			3
Reserve for obsolete materials	2		1			—		1			2
For the year ended December 31, 2020
Allowance for credit losses(a)	$	62	$	76	(b)	$	6	$	20	(c)	$	124
Deferred tax valuation allowance	—		—			1		—			1
Reserve for obsolete materials	2		1			—		1			2

__________

(b)The amount charged to costs and expenses includes the amount that was reclassified to the COVID-19 regulatory asset. See Note 3 – Regulatory Matters of the Combined Notes to Consolidated Financial Statements for additional information.

(c)Write-offs, net of recoveries of individual accounts receivable.

Baltimore Gas and Electric Company

(4) BGE


(i)						Financial Statements (Item 8):

						Report of Independent Registered Public Accounting Firm dated February 14, 2023 of PricewaterhouseCoopers LLP (PCAOB ID 238)

						Statements of Operations and Comprehensive Income for the Years Ended December 31, 2022, 2021 and 2020

						Statements of Cash Flows for the Years Ended December 31, 2022, 2021 and 2020

						Balance Sheets at December 31, 2022 and 2021

						Statements of Changes in Shareholder's Equity for the Years Ended December 31, 2022, 2021 and 2020

						Notes to Financial Statements

(ii)						Financial Statement Schedule:

						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2022, 2021, and 2020

						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

Baltimore Gas and Electric Company

Schedule II – Valuation and Qualifying Accounts


Column A	Column B		Column C					Column D			Column E
			Additions and adjustments
Description	Balance at Beginning of Period		Charged to Costs and Expenses			Charged to Other Accounts		Deductions			Balance at End of Period
(In millions)
For the year ended December 31, 2022
Allowance for credit losses	$	47	$	37	(a)	$	6	$	26	(b)	$	64
Deferred tax valuation allowance	—		—			3		—			3
Reserve for obsolete materials	1		1			—		—			2
For the year ended December 31, 2021
Allowance for credit losses	$	44	$	16	(a)	$	3	$	16	(b)	$	47

Reserve for obsolete materials	1		—			—		—			1
For the year ended December 31, 2020
Allowance for credit losses	$	17	$	31	(a)	$	6	$	10	(b)	$	44
Deferred tax valuation allowance	1		—			(1)		—			—
Reserve for obsolete materials	1		—			—		—			1

__________

(a)The amount charged to costs and expenses includes the amount that was reclassified to regulatory assets/liabilities under different mechanisms as approved by the MDPSC.

(b)Write-offs, net of recoveries of individual accounts receivable.

Pepco Holdings LLC and Subsidiary Companies

(5) PHI


(i)						Financial Statements (Item 8):

						Report of Independent Registered Public Accounting Firm dated February 14, 2023 of PricewaterhouseCoopers LLP (PCAOB ID 238)

						Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2022, 2021, and 2020

						Consolidated Statements of Cash Flows for the Years Ended December 31, 2022, 2021, and 2020

						Consolidated Balance Sheets at December 31, 2022 and 2021

						Consolidated Statements of Changes in Equity for the Years Ended December 31, 2022, 2021, and 2020

						Notes to Consolidated Financial Statements

(ii)						Financial Statement Schedule:

						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2022, 2021, and 2020

						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

Pepco Holdings LLC and Subsidiary Companies

Schedule II – Valuation and Qualifying Accounts


Column A	Column B		Column C						Column D			Column E
			Additions and adjustments
Description	Balance at Beginning of Period		Charged to Costs and Expenses			Charged to Other Accounts			Deductions			Balance at End of Period
(In millions)
For the year ended December 31, 2022
Allowance for credit losses	$	143	$	69	(a)	$	—		$	57	(b)	$	155
Deferred tax valuation allowance	31		—			4			—			35
Reserve for obsolete materials	3		—			—			1			2
For the year ended December 31, 2021
Allowance for credit losses	$	119	$	41	(a)	$	2		$	19	(b)	$	143
Deferred tax valuation allowance	—		—			31		(c)	—			31
Reserve for obsolete materials	2		1			—			—			3
For the year ended December 31, 2020
Allowance for credit losses	$	53	$	69	(a)	$	13		$	16	(b)	$	119

Reserve for obsolete materials	3		—			—			1			2

__________

(a)The amount charged to costs and expenses includes the amount that was reclassified to regulatory assets/liabilities under different mechanisms applicable to the different jurisdictions Pepco, DPL, and ACE operate in.

(b)Write-offs, net of recoveries of individual accounts receivable.

(c)DPL recorded a full valuation allowance against Delaware net operating losses carryforwards due to a change in Delaware tax law. See Note 13 — Income Taxes of the Combined Notes to Consolidated Financial Statements for additional information on the valuation allowance.

Potomac Electric Power Company

(6) Pepco


(i)						Financial Statements (Item 8):

						Report of Independent Registered Public Accounting Firm dated February 14, 2023 of PricewaterhouseCoopers LLP (PCAOB ID 238)

						Statements of Operations and Comprehensive Income for the Years Ended December 31, 2022, 2021 and 2020

						Statements of Cash Flows for the Years Ended December 31, 2022, 2021 and 2020

						Balance Sheets at December 31, 2022 and 2021

						Statements of Changes in Shareholder's Equity for the Years Ended December 31, 2022, 2021 and 2020

						Notes to Financial Statements

(ii)						Financial Statement Schedule:

						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2022, 2021, and 2020

						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

Potomac Electric Power Company

Schedule II – Valuation and Qualifying Accounts


Column A	Column B		Column C					Column D			Column E
			Additions and adjustments
Description	Balance at Beginning of Period		Charged to Costs and Expenses			Charged to Other Accounts		Deductions			Balance at End of Period
(In millions)
For the year ended December 31, 2022
Allowance for credit losses	$	53	$	36	(a)	$	4	$	21	(b)	$	72

Reserve for obsolete materials	1		—			—		—			1
For the year ended December 31, 2021
Allowance for credit losses	$	45	$	14	(a)	$	2	$	8	(b)	$	53

Reserve for obsolete materials	1		—			—		—			1
For the year ended December 31, 2020
Allowance for credit losses	$	20	$	25	(a)	$	5	$	5	(b)	$	45

Reserve for obsolete materials	1		—			—		—			1

__________

(a)The amount charged to costs and expenses includes the amount that was reclassified to regulatory assets/liabilities under different mechanisms as approved by the DCPSC and MDPSC.

(b)Write-offs, net of recoveries of individual accounts receivable.

Delmarva Power & Light Company

(7) DPL


(i)						Financial Statements (Item 8):

						Report of Independent Registered Public Accounting Firm dated February 14, 2023 of PricewaterhouseCoopers LLP (PCAOB ID 238)

						Statements of Operations and Comprehensive Income for the Years Ended December 31, 2022, 2021 and 2020

						Statements of Cash Flows for the Years Ended December 31, 2022, 2021 and 2020

						Balance Sheets at December 31, 2022 and 2021

						Statements of Changes in Shareholder's Equity for the Years Ended December 31, 2022, 2021 and 2020

						Notes to Financial Statements

(ii)						Financial Statement Schedule:

						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2022, 2021, and 2020

						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

Delmarva Power & Light Company

Schedule II – Valuation and Qualifying Accounts


Column A	Column B		Column C						Column D			Column E
			Additions and adjustments
Description	Balance at Beginning of Period		Charged to Costs and Expenses			Charged to Other Accounts			Deductions			Balance at End of Period
(In millions)
For the year ended December 31, 2022
Allowance for credit losses	$	26	$	13	(a)	$	(2)		$	9	(b)	$	28
Deferred tax valuation allowance	31		—			1			—			32

For the year ended December 31, 2021
Allowance for credit losses	$	31	$	6	(a)	$	(1)		$	10	(b)	$	26
Deferred tax valuation allowance	—		—			31		(c)	—			31

For the year ended December 31, 2020
Allowance for credit losses	$	15	$	16	(a)	$	4		$	4	(b)	$	31

__________

(a)The amount charged to costs and expenses includes the amount that was reclassified to regulatory assets/liabilities under different mechanisms as approved by the DEPSC and MDPSC.

(b)Write-offs, net of recoveries of individual accounts receivable.

Atlantic City Electric Company and Subsidiary Company

(8) ACE


(i)						Financial Statements (Item 8):

						Report of Independent Registered Public Accounting Firm dated February 14, 2023 of PricewaterhouseCoopers LLP (PCAOB ID 238)

						Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2022, 2021, and 2020

						Consolidated Statements of Cash Flows for the Years Ended December 31, 2022, 2021, and 2020

						Consolidated Balance Sheets at December 31, 2022 and 2021

						Consolidated Statements of Changes in Shareholder's Equity for the Years Ended December 31, 2022, 2021, and 2020

						Notes to Consolidated Financial Statements

(ii)						Financial Statement Schedule:

						Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2022, 2021, and 2020

						Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto

Atlantic City Electric Company and Subsidiary Company

Schedule II – Valuation and Qualifying Accounts


Column A	Column B		Column C					Column D			Column E
			Additions and adjustments
Description	Balance at Beginning of Period		Charged to Costs and Expenses			Charged to Other Accounts		Deductions			Balance at End of Period
(In millions)
For the year ended December 31, 2022
Allowance for credit losses	$	64	$	20	(a)	$	(2)	$	27	(b)	$	55

Reserve for obsolete materials	1		—			—		—			1
For the year ended December 31, 2021
Allowance for credit losses	$	43	$	21	(a)	$	1	$	1	(b)	$	64

Reserve for obsolete materials	—		1			—		—			1
For the year ended December 31, 2020
Allowance for credit losses	$	18	$	28	(a)	$	4	$	7	(b)	$	43

Reserve for obsolete materials	1		—			—		1			—

__________

(a)ACE is allowed to recover from or refund to customers the difference between its annual credit loss expense and the amounts collected in rates annually through the Societal Benefits Charge. The amount charged to costs and expenses includes the amount that was reclassified to regulatory assets/liabilities under such mechanism. See Note 3 – Regulatory Matters of the Combined Notes to Consolidated Financial Statements for additional information.

(b)Write-offs, net of recoveries of individual accounts receivable.

Regulatory Matters - Energy Efficiency Formula Rate (Details) - Commonwealth Edison Co [Member] - ComEd 2022 Energy Efficiency Formula Rate [Domain] - USD ($) $ in Millions	Oct. 27, 2022	May 25, 2022
Schedule of Energy Efficiency Formula Rate Updates [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount		$ 50
Public Utilities, Approved Rate Increase (Decrease), Amount	$ 50
Public Utilities, Approved Return on Equity, Percentage	7.85%
Public Utilities, Requested Equity Capital Structure, Percentage	5.94%
Basis points for ComEd's Revenue Requirement	580
2021
Schedule of Energy Efficiency Formula Rate Updates [Line Items]
Public Utilities, Approved Rate Increase (Decrease), Amount	$ (16)
Public Utilities, Approved Return on Equity, Percentage	6.99%
Public Utilities, Approved Equity Capital Structure, Percentage	5.52%
2023
Schedule of Energy Efficiency Formula Rate Updates [Line Items]
Public Utilities, Approved Rate Increase (Decrease), Amount	$ 66

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

PHI Merger Commitments [Table Text Block]

The following amounts represent total commitment costs that have been recorded since the acquisition date and the total remaining obligations for Exelon, PHI, Pepco, DPL, and ACE as of December 31, 2022:


Description	Exelon		PHI		Pepco		DPL		ACE
Total commitments	$	513	$	320	$	120	$	89	$	111
Remaining commitments(a)	52		45		39		4		2

__________

(a)Remaining commitments extend through 2026 and include rate credits, energy efficiency programs, and delivery system modernization.

Commercial Commitments

The Registrants' commercial commitments as of December 31, 2022, representing commitments potentially triggered by future events were as follows:


			Expiration within
Exelon	Total		2023		2024		2025		2026		2027		2028 and beyond
Letters of credit	$	19	$	17	$	2	$	—	$	—	$	—	$	—
Surety bonds(a)	205		203		2		—		—		—		—
Financing trust guarantees	378		—		—		—		—		—		378
Guaranteed lease residual values(b)	29		—		6		6		5		4		8
Total commercial commitments	$	631	$	220	$	10	$	6	$	5	$	4	$	386






ComEd
Letters of credit	$	12	$	10	$	2	$	—	$	—	$	—	$	—
Surety bonds(a)	46		44		2		—		—		—		—
Financing trust guarantees	200		—		—		—		—		—		200
Total commercial commitments	$	258	$	54	$	4	$	—	$	—	$	—	$	200

PECO
Letters of credit	$	1	$	1	$	—	$	—	$	—	$	—	$	—
Surety bonds(a)	2		2		—		—		—		—		—
Financing trust guarantees	178		—		—		—		—		—		178
Total commercial commitments	$	181	$	3	$	—	$	—	$	—	$	—	$	178

BGE
Letters of credit	$	2	$	2	$	—	$	—	$	—	$	—	$	—
Surety bonds(a)	2		2		—		—		—		—		—
Total commercial commitments	$	4	$	4	$	—	$	—	$	—	$	—	$	—

PHI

Surety bonds(a)	$	96	$	96	$	—	$	—	$	—	$	—	$	—
Guaranteed lease residual values(b)	29		—		6		6		5		4		8
Total commercial commitments	$	125	$	96	$	6	$	6	$	5	$	4	$	8

Pepco

Surety bonds(a)	$	84	$	84	$	—	$	—	$	—	$	—	$	—
Guaranteed lease residual values(b)	10		—		2		2		2		1		3
Total commercial commitments	$	94	$	84	$	2	$	2	$	2	$	1	$	3

DPL

Surety bonds(a)	$	7	$	7	$	—	$	—	$	—	$	—	$	—
Guaranteed lease residual values(b)	12		—		3		2		2		2		3
Total commercial commitments	$	19	$	7	$	3	$	2	$	2	$	2	$	3

ACE
Surety bonds(a)	$	5	$	5	$	—	$	—	$	—	$	—	$	—
Guaranteed lease residual values(b)	7		—		1		2		1		1		2
Total commercial commitments	$	12	$	5	$	1	$	2	$	1	$	1	$	2

__________

(a)Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds.

Accrued environmental liabilities


	December 31, 2022				December 31, 2021
	Total environmental investigation and remediation liabilities		Portion of total related to MGP investigation and remediation		Total environmental investigation and remediation liabilities		Portion of total related to MGP investigation and remediation
Exelon	$	409	$	355	$	352	$	303
ComEd	325		324		279		279
PECO	25		23		22		20
BGE	9		8		6		4
PHI	46		—		42		—
Pepco	44		—		40		—
DPL	1		—		1		—
ACE	1		—		1		—

Retirement Benefits (All Registrants)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Retirement Benefits (All Registrants)

Exelon sponsors defined benefit pension plans and OPEB plans for essentially all current employees. Substantially all non-union employees and electing union employees hired on or after January 1, 2001 participate in cash balance pension plans. Effective January 1, 2009, substantially all newly-hired union-represented employees participate in cash balance pension plans. Effective February 1, 2018 for most newly-hired BSC non-represented, non-craft, employees, January 1, 2021 for most newly-hired utility management employees, and for certain newly-hired union employees pursuant to their collective bargaining agreements, these newly-hired employees are not eligible for pension benefits, and will instead be eligible to receive an enhanced non-discretionary employer contribution in an Exelon defined contribution savings plan. Effective January 1, 2018, most newly-hired non-represented, non-craft, employees are not eligible for OPEB benefits and employees represented by Local 614 are not eligible for retiree health care benefits. Effective January 1, 2021, most non-represented, non-craft, employees who are under the age of 40 are not eligible for retiree health care benefits. Effective January 1, 2022, management employees retiring on or after that date are no longer eligible for retiree life insurance benefits.

Effective February 1, 2022, in connection with the separation, pension and OPEB obligations and assets for current and former employees of the Constellation business and certain other former employees of Exelon and its subsidiaries transferred to pension and OPEB plans and trusts maintained by Constellation or its subsidiaries. The Exelon New England Union Employees Pension Plan and Constellation Mystic Power, LLC Union Employees Pension Plan Including Plan A and Plan B were transferred. The following OPEB plans were also transferred: Constellation Mystic Power, LLC Post-Employment Medical Savings Account Plan; Exelon New England Union Post-Employment Medical Savings Account Plan; and the Nine Mile Point Nuclear Station, LLC Medical Care and Prescription Drug Plan for Retired Employees.

As a result of the separation, Exelon restructured certain of its qualified pension plans. Pension obligations and assets for current and former employees continuing with Exelon and who were participants in the Exelon Employee Pension Plan for Clinton, TMI, and Oyster Creek, Pension Plan of Constellation Energy Nuclear Group, LLC, and Nine Mile Point Pension Plan were merged into the Pension Plan of Constellation Energy Group, Inc, which was subsequently renamed, Exelon Pension Plan (EPP). Exelon employees who participated in these plans prior to the separation now participate in the EPP. The merging of the plans did not change the benefits offered to the plan participants and, thus, had no impact on Exelon's pension obligations.

The tables below show the pension and OPEB plans in which employees of each operating company participated as of December 31, 2022:

Operating Company(e)

Name of Plan:

ComEd

PECO

BGE

PHI

Pepco

DPL

ACE

Qualified Pension Plans:

Exelon Corporation Retirement Program(a)

Exelon Corporation Pension Plan for Bargaining Unit Employees(a)

Exelon Pension Plan(b)

Pepco Holdings LLC Retirement Plan(d)

Non-Qualified Pension Plans:

Exelon Corporation Supplemental Pension Benefit Plan and 2000 Excess Benefit Plan(a)

Exelon Corporation Supplemental Management Retirement Plan(a)

Constellation Energy Group, Inc. Senior Executive Supplemental Plan(b)

Constellation Energy Group, Inc. Supplemental Pension Plan(b)

Constellation Energy Group, Inc. Benefits Restoration Plan(b)

Baltimore Gas & Electric Company Executive Benefit Plan(b)

Baltimore Gas & Electric Company Manager Benefit Plan(b)

Pepco Holdings LLC 2011 Supplemental Executive Retirement Plan(d)

Conectiv Supplemental Executive Retirement Plan(d)

Pepco Holdings LLC Combined Executive Retirement Plan(d)

Operating Company(e)

Name of Plan:

ComEd

PECO

BGE

PHI

Pepco

DPL

ACE

OPEB Plans:

PECO Energy Company Retiree Medical Plan(a)

Exelon Corporation Health Care Program(a)

Exelon Corporation Employees’ Life Insurance Plan(a)

Exelon Corporation Health Reimbursement Arrangement Plan(a)

BGE Retiree Medical Plan(b)

BGE Retiree Dental Plan(b)

Exelon Retiree Medical Plan of Constellation Energy Nuclear Group, LLC(c)

Exelon Retiree Dental Plan of Constellation Energy Nuclear Group, LLC(c)

Pepco Holdings LLC Welfare Plan for Retirees(d)

__________

(a)These plans are collectively referred to as the legacy Exelon plans.

(b)These plans are collectively referred to as the legacy Constellation Energy Group (CEG) Plans.

(c)These plans are collectively referred to as the legacy CENG plans.

(d)These plans are collectively referred to as the legacy PHI plans.

(e)Employees generally remain in their legacy benefit plans when transferring between operating companies.

Exelon’s traditional and cash balance pension plans are intended to be tax-qualified defined benefit plans. Exelon has elected that the trusts underlying these plans be treated as qualified trusts under the IRC. If certain conditions are met, Exelon can deduct payments made to the qualified trusts, subject to certain IRC limitations.

Benefit Obligations, Plan Assets, and Funded Status

As of February 1, 2022, in connection with the separation, Exelon's pension and OPEB plans were remeasured. The remeasurement and separation resulted in a decrease to the pension obligation, net of plan assets, of $921 million and a decrease to the OPEB obligation of $893 million. Additionally, accumulated other comprehensive loss, decreased by $1,994 million (after-tax) and regulatory assets and liabilities increased by $14 million and $5 million respectively. Key assumptions were held consistent with the year end December 31, 2021 assumptions with the exception of the discount rate.

During the first quarter of 2022, Exelon received an updated valuation of its pension and OPEB to reflect actual census data as of February 1, 2022. This valuation resulted in a decrease to the pension obligations of $24 million and an increase to the OPEB obligations of $5 million. Additionally, accumulated other comprehensive loss increased by $5 million (after-tax) and regulatory assets and liabilities decreased by $30 million and $3 million, respectively.

The following tables provide a rollforward of the changes in the benefit obligations and plan assets of Exelon for the most recent two years for all plans combined:


	Pension Benefits				OPEB
	2022		2021		2022		2021
Change in benefit obligation:
Net benefit obligation as of the beginning of year	$	14,236	$	14,861	$	2,502	$	2,661
Service cost	236		294		41		51
Interest cost	439		406		76		69
Plan participants’ contributions	—		—		26		32
Actuarial (gain) loss(a)	(3,379)		(442)		(604)		(116)



Settlements	—		(23)		—		(5)

Gross benefits paid	(855)		(860)		(157)		(190)
Net benefit obligation as of the end of year	$	10,677	$	14,236	$	1,884	$	2,502


	Pension Benefits				OPEB
	2022		2021		2022		2021
Change in plan assets:
Fair value of net plan assets as of the beginning of year	$	12,165	$	11,883	$	1,665	$	1,635
Actual return on plan assets	(2,359)		822		(225)		130
Employer contributions	570		343		42		63
Plan participants’ contributions	—		—		26		32
Gross benefits paid	(855)		(860)		(157)		(190)

Settlements	—		(23)		—		(5)
Fair value of net plan assets as of the end of year	$	9,521	$	12,165	$	1,351	$	1,665

__________

(a)The pension and OPEB gains in 2022 and 2021 primarily reflect an increase in the discount rate.

Exelon presents its benefit obligations and plan assets net on its Consolidated Balance Sheets within the following line items:


	Pension Benefits				OPEB
	2022		2021		2022		2021
Other current liabilities	$	47	$	20	$	26	$	26
Pension obligations	1,109		2,051		—		—
Non-pension postretirement benefit obligations	—		—		507		811
Unfunded status (net benefit obligation less plan assets)	$	1,156	$	2,071	$	533	$	837


	Exelon
ABO in Excess of Plan Assets	2022		2021

ABO	$	10,108	$	13,497
Fair value of net plan assets	9,427		12,165

Components of Net Periodic Benefit Costs

The majority of the 2022 pension benefit cost for the Exelon-sponsored plans is calculated using an expected long-term rate of return on plan assets of 7.00% and a discount rate of 3.24%. The majority of the 2022 OPEB cost is calculated using an expected long-term rate of return on plan assets of 6.44% for funded plans and a discount rate of 3.20%.

A portion of the net periodic benefit cost for all plans is capitalized in the Consolidated Balance Sheets. The following table presents the components of Exelon’s net periodic benefit costs, prior to capitalization, for the years ended December 31, 2022, 2021, and 2020.


	Pension Benefits						OPEB
	2022		2021		2020		2022		2021		2020
Components of net periodic benefit cost:
Service cost	$	236	$	294	$	251	$	41	$	51	$	56
Interest cost	439		406		476		76		69		93
Expected return on assets	(822)		(843)		(796)		(99)		(99)		(101)
Amortization of:
Prior service cost (credit)	2		2		3		(19)		(25)		(76)
Actuarial loss	295		399		349		12		27		34
Curtailment benefits	—		—		—		—		—		(1)
Settlement and other charges	—		7		6		—		1		1

Net periodic benefit cost	$	150	$	265	$	289	$	11	$	24	$	6

Cost Allocation to Exelon Subsidiaries

All Registrants account for their participation in Exelon’s pension and OPEB plans by applying multi-employer accounting. Exelon allocates costs related to its pension and OPEB plans to its subsidiaries based on both active and retired employee participation in each plan.


For the Years Ended December 31,	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
2022	$	161	$	60	$	(9)	$	44	$	53	$	9	$	3	$	12
2021	288		129		8		64		49		6		2		11
2020	296		114		5		64		70		15		7		14

Components of AOCI and Regulatory Assets

Exelon recognizes the overfunded or underfunded status of defined benefit pension and OPEB plans as an asset or liability on its Consolidated Balance Sheets, with offsetting entries to AOCI and regulatory assets (liabilities). A portion of current year actuarial (gains) losses and prior service costs (credits) is capitalized in Exelon’s Consolidated Balance Sheets to reflect the expected regulatory recovery of these amounts, which would otherwise be recorded to AOCI. The following tables provide the components of AOCI and regulatory assets (liabilities) for Exelon for the years ended December 31, 2022, 2021, and 2020 for all plans combined. The tables include amounts related to Generation prior to the separation.


	Pension Benefits						OPEB
	2022		2021		2020		2022		2021		2020
Changes in plan assets and benefit obligations recognized in AOCI and regulatory assets (liabilities):
Current year actuarial (gain) loss	$	(226)	$	(700)	$	941	$	(271)	$	(270)	$	22
Amortization of actuarial loss	(295)		(598)		(512)		(12)		(37)		(49)
Separation of Constellation	(2,631)		—		—		(43)		—		—
Current year prior service cost (credit)	—		—		—		—		—		(111)
Amortization of prior service (cost) credit	(2)		(3)		(4)		19		34		124


Curtailments	—		—		—		—		—		1
Settlements	—		(27)		(14)		—		(1)		(1)

Total recognized in AOCI and regulatory assets (liabilities)	$	(3,154)	$	(1,328)	$	411	$	(307)	$	(274)	$	(14)

Total recognized in AOCI	$	(2,719)	$	(747)	$	271	$	(74)	$	(130)	$	6
Total recognized in regulatory assets (liabilities)	$	(435)	$	(581)	$	140	$	(233)	$	(144)	$	(20)


	Pension Benefits				OPEB
	2022		2021		2022		2021
Prior service cost (credit)	$	19	$	32	$	(55)	$	(111)
Actuarial loss (gain)	3,611		6,752		(133)		230
Total	$	3,630	$	6,784	$	(188)	$	119

Total included in AOCI	$	873	$	3,592	$	(21)	$	53
Total included in regulatory assets (liabilities)	$	2,757	$	3,192	$	(167)	$	66

Average Remaining Service Period

For pension benefits, Exelon amortizes its unrecognized prior service costs (credits) and certain actuarial (gains) losses, as applicable, based on participants’ average remaining service periods.

For OPEB, Exelon amortizes its unrecognized prior service costs (credits) over participants’ average remaining service period to benefit eligibility age and amortizes certain actuarial (gains) losses over participants’ average remaining service period to expected retirement. The resulting average remaining service periods for pension and OPEB were as follows:


	2022	2021	2020
Pension plans	12.5	12.4	12.3
OPEB plans:
Benefit Eligibility Age	7.9	7.6	9.0
Expected Retirement	9.1	8.8	10.2

Assumptions

The measurement of the plan obligations and costs of providing benefits under Exelon’s defined benefit and OPEB plans involves various factors, including the development of valuation assumptions and inputs and accounting policy elections. The measurement of benefit obligations and costs is impacted by several assumptions and inputs, as shown below, among other factors. When developing the required assumptions, Exelon considers historical information as well as future expectations.

Expected Rate of Return. In determining the EROA, Exelon considers historical economic indicators (including inflation and GDP growth) that impact asset returns, as well as expectations regarding future long-term capital market performance, weighted by Exelon’s target asset class allocations.

Mortality. The mortality assumption is composed of a base table that represents the current expectation of life expectancy of the population adjusted by an improvement scale that attempts to anticipate future improvements in life expectancy. For the years ended December 31, 2022 and 2021, Exelon’s mortality assumption utilizes the SOA 2019 base table (Pri-2012) and MP-2021 improvement scale adjusted to use Proxy SSA ultimate improvement rates.


	Pension Benefits				OPEB
	2022		2021		2022		2021
Discount rate(a)	5.53	%	2.92	%	5.51	%	2.88	%
Investment crediting rate(b)	5.07	%	3.75	%	N/A		N/A
Rate of compensation increase	3.75	%	3.75	%	3.75	%	3.75	%
Mortality table	Pri-2012 table with MP- 2021 improvement scale (adjusted)		Pri-2012 table with MP- 2021 improvement scale (adjusted)		Pri-2012 table with MP- 2021 improvement scale (adjusted)		Pri-2012 table with MP- 2021 improvement scale (adjusted)
Health care cost trend on covered charges	N/A		N/A		Initial and ultimate rate of 5.00%		Initial and ultimate trend of 5.00%

__________

(b)The investment crediting rate above represents a weighted average rate.

The following assumptions were used to determine the net periodic benefit cost for Exelon for the years ended December 31, 2022, 2021 and 2020:


	Pension Benefits						OPEB
	2022		2021		2020		2022		2021		2020
Discount rate(a)	3.24	%	2.58	%	3.34	%	3.20	%	2.51	%	3.31	%
Investment crediting rate(b)	3.75	%	3.72	%	3.82	%	N/A		N/A		N/A
Expected return on plan assets(c)	7.00	%	7.00	%	7.00	%	6.44	%	6.46	%	6.69	%
Rate of compensation increase	3.75	%	3.75	%	3.75	%	3.75	%	3.75	%	3.75	%
Mortality table	Pri-2012 table with MP- 2021 improvement scale (adjusted)		Pri-2012 table with MP - 2020 improvement scale (adjusted)		Pri-2012 table with MP - 2019 improvement scale (adjusted)		Pri-2012 table with MP- 2021 improvement scale (adjusted)		Pri-2012 table with MP - 2020 improvement scale (adjusted)		Pri-2012 table with MP - 2019 improvement scale (adjusted)
Health care cost trend on covered charges	N/A		N/A		N/A		Initial and ultimate rate of 5.00%		Initial and ultimate rate of 5.00%		Initial and ultimate rate of 5.00%

__________

(b)The investment crediting rate above represents a weighted average rate.

(c)Not applicable to pension and OPEB plans that do not have plan assets.

Contributions

Exelon allocates contributions related to its legacy Exelon pension and OPEB plans to its subsidiaries based on accounting cost. For legacy CEG, CENG, FitzPatrick, and PHI plans, pension and OPEB contributions are allocated to the subsidiaries based on employee participation (both active and retired). For Exelon, in connection with the separation, additional qualified pension contributions of $207 million and $33 million were completed on February 1, 2022 and March 2, 2022, respectively. The following tables provide contributions to the pension and OPEB plans:


	Pension Benefits						OPEB
	2022		2021		2020		2022		2021		2020
Exelon	$	570	$	343	$	306	$	42	$	63	$	40
ComEd	176		174		143		8		22		5
PECO	15		17		18		3		1		—
BGE	48		57		56		20		24		22
PHI	69		39		30		9		9		9
Pepco	3		2		2		8		9		9
DPL	1		1		—		—		—		—
ACE	7		3		2		—		—		—

Management considers various factors when making pension funding decisions, including actuarially determined minimum contribution requirements under ERISA, contributions required to avoid benefit restrictions and at-risk status as defined by the Pension Protection Act of 2006 (the Act), management of the pension obligation, and regulatory implications. The Act requires the attainment of certain funding levels to avoid benefit restrictions (such as an inability to pay lump sums or to accrue benefits prospectively), and at-risk status (which triggers higher minimum contribution requirements and participant notification). The projected contributions below reflect a funding strategy to make annual contributions with the objective of achieving 100% funded status on an ABO basis over time. This funding strategy helps minimize volatility of future period required pension contributions. Based on this funding strategy and current market conditions, which are subject to change, Exelon’s estimated annual qualified pension contributions will be approximately $20 million in 2023. Unlike the qualified pension plans, Exelon’s non-qualified pension plans are not funded, given that they are not subject to statutory minimum contribution requirements.

While OPEB plans are also not subject to statutory minimum contribution requirements, Exelon does fund certain of its plans. For Exelon's funded OPEB plans, contributions generally equal accounting costs, however, Exelon’s management has historically considered several factors in determining the level of contributions to its OPEB plans, including liabilities management, levels of benefit claims paid, and regulatory implications (amounts deemed prudent to meet regulatory expectations and best assure continued rate recovery). The amounts below include benefit payments related to unfunded plans.


	Qualified Pension Plans		Non-Qualified Pension Plans		OPEB
Exelon	$	20	$	48	$	47
ComEd	20		3		19
PECO	—		1		—
BGE	—		1		15
PHI	—		9		11
Pepco	—		1		11
DPL	—		—		—
ACE	—		—		—

Estimated Future Benefit Payments

Estimated future benefit payments to participants in all of the pension plans and postretirement benefit plans as of December 31, 2022 were:


	Pension Benefits		OPEB
2023	$	805	$	152
2024	775		152
2025	789		152
2026	790		152
2027	798		153
2028 through 2032	3,983		744
Total estimated future benefits payments through 2032	$	7,940	$	1,505

Plan Assets

Investment Strategy. On a regular basis, Exelon evaluates its investment strategy to ensure that plan assets will be sufficient to pay plan benefits when due. As part of this ongoing evaluation, Exelon may make changes to its targeted asset allocation and investment strategy.

Exelon has developed and implemented a liability hedging investment strategy for its qualified pension plans that has reduced the volatility of its pension assets relative to its pension liabilities. Exelon is likely to continue to gradually increase the liability hedging portfolio as the funded status of its plans improves. The overall objective is to achieve attractive risk-adjusted returns that will balance the liquidity requirements of the plans’ liabilities while striving to minimize the risk of significant losses. Trust assets for Exelon’s OPEB plans are managed in a diversified investment strategy that prioritizes maximizing liquidity and returns while minimizing asset volatility.

Actual asset returns have an impact on the costs reported for the Exelon-sponsored pension and OPEB plans. The actual asset returns across Exelon’s pension and OPEB plans for the year ended December 31, 2022 were (18.69)% and (11.36)%, respectively, compared to an expected long-term return assumption of 7.00% and 6.44%, respectively. Exelon used an EROA of 7.00% and 6.50% to estimate its 2023 pension and OPEB costs, respectively.

Exelon’s pension and OPEB plan target asset allocations as of December 31, 2022 and 2021 were as follows:


	December 31, 2022				December 31, 2021
Asset Category	Pension Benefits		OPEB		Pension Benefits		OPEB
Equity securities	28	%	44	%	35	%	44	%
Fixed income securities	44	%	41	%	41	%	41	%
Alternative investments(a)	28	%	15	%	24	%	15	%
Total	100	%	100	%	100	%	100	%

__________

(a)Alternative investments include private equity, hedge funds, real estate, and private credit.

Concentrations of Credit Risk. Exelon evaluated its pension and OPEB plans’ asset portfolios for the existence of significant concentrations of credit risk as of December 31, 2022. Types of concentrations that were evaluated include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country, and individual fund. As of December 31, 2022, there were no significant concentrations (defined as greater than 10% of plan assets) of risk in Exelon’s pension and OPEB plan assets.

Fair Value Measurements


	December 31, 2022										December 31, 2021
	Level 1		Level 2		Level 3		Not subject to leveling		Total		Level 1		Level 2		Level 3		Not subject to leveling		Total
Pension plan assets(a)
Cash and cash equivalents	$	200	$	—	$	—	$	—	$	200	$	260	$	91	$	—	$	—	$	351



Equities(b)	1,448		—		—		782		2,230		2,699		—		2		1,273		3,974
Fixed income:
U.S. Treasury and agencies	986		178		—		—		1,164		1,002		176		—		—		1,178
State and municipal debt	—		44		—		—		44		—		47		—		—		47
Corporate debt(c)	—		1,975		12		—		1,987		—		2,523		325		—		2,848
Other(b)	—		63		—		744		807		43		161		12		301		517



Fixed income subtotal	986		2,260		12		744		4,002		1,045		2,907		337		301		4,590
Private equity	—		—		—		1,169		1,169		—		—		—		1,124		1,124
Hedge funds	—		—		—		760		760		—		—		—		774		774

Real estate	—		—		—		821		821		—		—		—		760		760
Private credit	—		—		—		658		658		—		—		130		603		733
Pension plan assets subtotal	2,634		2,260		12		4,934		9,840		4,004		2,998		469		4,835		12,306

OPEB plan assets(a)
Cash and cash equivalents	39		—		—		—		39		54		41		—		—		95
Equities	305		1		—		273		579		387		2		—		324		713
Fixed income:
U.S. Treasury and agencies	17		45		—		—		62		14		44		—		—		58
State and municipal debt	—		8		—		—		8		—		7		—		—		7
Corporate debt(c)	—		44		—		—		44		—		74		—		—		74
Other	161		5		—		187		353		223		4		—		136		363
Fixed income subtotal	178		102		—		187		467		237		129		—		136		502

Hedge funds	—		—		—		120		120		—		—		—		175		175
Real estate	—		—		—		106		106		—		—		—		86		86
Private credit	—		—		—		39		39		—		—		—		84		84
OPEB plan assets subtotal	522		103		—		725		1,350		678		172		—		805		1,655
Total pension and OPEB plan assets(d)	$	3,156	$	2,363	$	12	$	5,659	$	11,190	$	4,682	$	3,170	$	469	$	5,640	$	13,961

__________

(a)See Note 17—Fair Value of Financial Assets and Liabilities for a description of levels within the fair value hierarchy.

The following table presents the reconciliation of Level 3 assets and liabilities for Exelon measured at fair value for pension and OPEB plans for the years ended December 31, 2022 and 2021:


	Fixed Income		Equities		Private Credit		Total
Pension Assets
Balance as of January 1, 2022	$	337	$	2	$	130	$	469
Actual return on plan assets:
Relating to assets still held as of the reporting date	(9)		—		(15)		(24)
Relating to assets sold during the period	(19)		—		13		(6)
Purchases, sales and settlements:
Purchases	—		—		7		7

Settlements(a)	(1)		—		(52)		(53)
Transfers out of Level 3(b)	(296)		(2)		(83)		(381)
Balance as of December 31, 2022	$	12	$	—	$	—	$	12


	Fixed Income		Equities		Private Credit		Total
Pension Assets
Balance as of January 1, 2021	$	348	$	1	$	136	$	485
Actual return on plan assets:
Relating to assets still held as of the reporting date	(12)		—		18		6

Purchases, sales and settlements:
Purchases	10		—		5		15

Settlements(a)	(13)		—		(29)		(42)
Transfers into Level 3	4		1		—		5
Balance as of December 31, 2021	$	337	$	2	$	130	$	469

__________

(a)Represents cash settlements only.

(b)In 2022, transfers relate to changes in investment structure for certain investments due to the separation.

Valuation Techniques Used to Determine Fair Value

The techniques used to fair value the pension and OPEB assets invested in cash equivalents are the same as the valuation techniques used to determine the fair value of financial assets. See Cash Equivalents in Note 17 - Fair Value of Financial Assets and Liabilities for further information. Below outlines the techniques used to fair value the pension and OPEB assets invested in equities, fixed income, derivatives, private credit, private equity, and real estate investments.

Equities. These investments consist of individually held equity securities, equity mutual funds, and equity commingled funds in domestic and foreign markets. With respect to individually held equity securities, the trustees obtain prices from pricing services, whose prices are generally obtained from direct feeds from market exchanges, which Exelon is able to independently corroborate. Equity securities held individually, including real estate investment trusts, rights, and warrants, are primarily traded on exchanges that contain only actively traded securities due to the volume trading requirements imposed by these exchanges. The equity securities that are held directly by the trust funds are valued based on quoted prices in active markets and categorized as Level 1. Certain equity securities have been categorized as Level 2 because they are based on evaluated prices that reflect observable market information, such as actual trade information or similar securities. Certain private placement equity securities are categorized as Level 3 because they are not publicly traded and are priced using significant unobservable inputs.

Equity commingled funds and mutual funds are maintained by investment companies, and fund investments are held in accordance with a stated set of fund objectives. The values of some of these funds are publicly quoted. For mutual funds which are publicly quoted, the funds are valued based on quoted prices in active markets and have been categorized as Level 1. For equity commingled funds and mutual funds which are not publicly quoted, the fund administrators value the funds using the NAV per fund share, derived from the quoted prices in active markets on the underlying securities and are not classified within the fair value hierarchy. These investments can typically be redeemed monthly or more frequently, with 30 or less days of notice and without further restrictions.

Fixed income. For fixed income securities, which consist primarily of corporate debt securities, U.S. government securities, foreign government securities, municipal bonds, asset and mortgage-backed securities, commingled funds, mutual funds, and derivative instruments, the trustees obtain multiple prices from pricing vendors whenever possible, which enables cross-provider validations in addition to checks for unusual daily movements. A primary price source is identified based on asset type, class, or issue for each security. With respect to individually held fixed income securities, the trustees monitor prices supplied by pricing services and may use a supplemental price source or change the primary price source of a given security if the portfolio managers challenge an assigned price and the trustees determine that another price source is considered to be preferable. Exelon has obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices. Additionally, Exelon selectively corroborates the fair values of securities by comparison to other market-based price sources. Investments in U.S. Treasury securities have been categorized as Level 1 because they trade in highly-liquid and transparent markets. Certain private placement fixed income securities have been categorized as Level 3 because they are priced using certain significant unobservable inputs and are typically illiquid. The remaining fixed income securities, including certain other fixed income investments, are based on evaluated prices that reflect observable market information, such as actual trade information of similar securities, adjusted for observable differences and are categorized as Level 2.

Other fixed income investments primarily consist of fixed income commingled funds and mutual funds, which are maintained by investment companies and hold fund investments in accordance with a stated set of fund objectives. The values of some of these funds are publicly quoted. For mutual funds which are publicly quoted, the funds are valued based on quoted prices in active markets and have been categorized as Level 1. For fixed income commingled funds and mutual funds which are not publicly quoted, the fund administrators value the funds using the NAV per fund share, derived from the quoted prices in active markets of the underlying securities and are not classified within the fair value hierarchy. These investments typically can be redeemed monthly or more frequently, with 30 or less days of notice and without further restrictions.

Derivative instruments. These instruments, consisting primarily of futures and swaps to manage risk, are recorded at fair value. Over-the-counter derivatives are valued daily, based on quoted prices in active markets and trade in open markets, and have been categorized as Level 1. Derivative instruments other than over-the-counter derivatives are valued based on external price data of comparable securities and have been categorized as Level 2.

Private credit. Private credit investments primarily consist of investments in private debt strategies. These investments are generally less liquid assets with an underlying term of 3 to 5 years and are intended to be held to maturity. The fair value of these investments is determined by the fund manager or administrator using a combination of valuation models including cost models, market models, and income models and typically cannot be redeemed until maturity of the term loan. Private credit investments held directly by Exelon are categorized as Level 3 because they are based largely on inputs that are unobservable and utilize complex valuation models. For managed private credit funds, the fair value is determined using a combination of valuation models including

cost models, market models, and income models and typically cannot be redeemed until maturity of the term loan. Managed private credit fund investments are not classified within the fair value hierarchy because their fair value is determined using NAV or its equivalent as a practical expedient.

Private equity. These investments include those in limited partnerships that invest in operating companies that are not publicly traded on a stock exchange such as leveraged buyouts, growth capital, venture capital, distressed investments, and investments in natural resources. These investments typically cannot be redeemed and are generally liquidated over a period of 8 to 10 years from the initial investment date, which is based on Exelon's understanding of the investment funds. Private equity valuations are reported by the fund manager and are based on the valuation of the underlying investments, which include unobservable inputs such as cost, operating results, discounted future cash flows, and market based comparable data. These valuation inputs are unobservable. The fair value of private equity investments is determined using NAV or its equivalent as a practical expedient, and therefore, these investments are not classified within the fair value hierarchy.

Real estate. These investments are funds with a direct investment in pools of real estate properties. These funds are reported by the fund manager and are generally based on independent appraisals of the underlying investments from sources with professional qualifications, typically using a combination of market based comparable data and discounted cash flows. These valuation inputs are unobservable. Certain real estate investments cannot be redeemed and are generally liquidated over a period of 8 to 10 years from the initial investment date, which is based on Exelon's understanding of the investment funds. The remaining liquid real estate investments are generally redeemable from the investment vehicle quarterly, with 30 to 90 days of notice. The fair value of real estate investments is determined using NAV or its equivalent as a practical expedient, and therefore, these investments are not classified within the fair value hierarchy.

Pension and OPEB assets also include investments in hedge funds. Hedge fund investments include those that employ a broad range of strategies to enhance returns and provide additional diversification. The fair value of hedge funds is determined using NAV or its equivalent as a practical expedient, and therefore, hedge funds are not classified within the fair value hierarchy. Exelon has the ability to redeem these investments at NAV or its equivalent subject to certain restrictions which may include a lock-up period or a gate.

Defined Contribution Savings Plan


For the Years Ended December 31,	Exelon		ComEd		PECO		BGE		PHI	Pepco		DPL		ACE
2022	$	91	$	39	$	13	$	11	14	$	4	$	3	$	2
2021	90		35		12		12		14	4		3		2
2020	95		36		12		13		14	4		3		3

The entire disclosure for retirement benefits.

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Schedule of Components of Income Tax Expense (Benefit)

Commitments and Contingencies - Settlement Agreements (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Guarantor Obligations [Line Items]
Receivable related to Regulatory Agreement Units	$ 2,897	$ 0

Retirement Benefits - Estimated Future Benefit Payments (Details) $ in Millions	Dec. 31, 2022 USD ($)
Pension Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2023	$ 805
2024	775
2025	789
2026	790
2027	798
2028 through 2032	3,983
Total estimated future benefits payments through 2032	7,940
Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2023	152
2024	152
2025	152
2026	152
2027	153
2028 through 2032	744
Total estimated future benefits payments through 2032	$ 1,505

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income tax expense (benefit) from continuing operations is comprised of the following components:


	For the Year Ended December 31, 2022
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Included in operations:
Federal
Current	$	(24)	$	29	$	13	$	(1)	$	16	$	9	$	(2)	$	6
Deferred	106		117		18		(3)		(23)		(2)		2		(15)
Investment tax credit amortization	(3)		(1)		—		—		(1)		—		—		—
State
Current	(13)		(6)		(4)		—		2		—		—		—
Deferred	283		125		52		12		15		(16)		14		12
Total	$	349	$	264	$	79	$	8	$	9	$	(9)	$	14	$	3


	For the Year Ended December 31, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Included in operations:
Federal
Current	$	(152)	$	(30)	$	1	$	(18)	$	18	$	22	$	2	$	1
Deferred	89		113		20		34		(52)		(17)		(14)		(26)
Investment tax credit amortization	(2)		(1)		—		—		(1)		—		—		—
State
Current	(46)		(41)		—		—		—		1		1		—
Deferred	149		131		(9)		(51)		77		9		53		12
Total	$	38	$	172	$	12	$	(35)	$	42	$	15	$	42	$	(13)


	For the Year Ended December 31, 2020
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Included in operations:
Federal
Current	$	(180)	$	(24)	$	(7)	$	4	$	25	$	40	$	(13)	$	(4)
Deferred	10		112		1		10		(129)		(62)		(20)		(43)
Investment tax credit amortization	(3)		(2)		—		—		(1)		—		—		—
State
Current	(37)		(27)		—		—		(5)		—		—		—
Deferred	203		118		(24)		27		33		15		8		6
Total	$	(7)	$	177	$	(30)	$	41	$	(77)	$	(7)	$	(25)	$	(41)

Effective Income Tax Rate Reconciliation

The effective income tax rate from continuing operations varies from the U.S. federal statutory rate principally due to the following:


	For the Year Ended December 31, 2022(a)
	Exelon		ComEd		PECO(b)		BGE(b)		PHI(b)		Pepco(b)		DPL(b)		ACE(b)
U.S. federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of Federal income tax benefit(c)	8.8		8.0		5.8		2.6		2.1		(4.1)		6.5		6.9
Plant basis differences	(4.1)		(0.6)		(11.9)		(1.0)		(1.7)		(2.7)		(0.7)		(0.7)
Excess deferred tax amortization	(11.8)		(5.6)		(3.0)		(19.8)		(19.5)		(16.8)		(18.4)		(24.5)
Amortization of investment tax credit, including deferred taxes on basis differences	(0.1)		(0.1)		—		(0.1)		(0.1)		—		(0.2)		(0.2)
Tax credits(d)	0.1		(0.3)		—		(0.7)		(0.7)		(0.7)		(0.6)		(0.5)
Other(e)	0.6		—		0.2		0.1		0.4		0.3		0.1		—
Effective income tax rate	14.5	%	22.4	%	12.1	%	2.1	%	1.5	%	(3.0)	%	7.7	%	2.0	%


	For the Year Ended December 31, 2021(a)
	Exelon		ComEd		PECO(f)		BGE(f)		PHI		Pepco(f)		DPL(f)		ACE(f)
U.S. federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of federal income tax benefit	5.0		7.8		(1.4)		(10.8)		10.1		2.7		25.0		7.4
Plant basis differences	(5.4)		(0.8)		(13.6)		(1.7)		(1.1)		(1.6)		(0.8)		(0.2)
Excess deferred tax amortization	(17.2)		(7.6)		(3.8)		(16.3)		(22.4)		(16.4)		(20.0)		(37.1)
Amortization of investment tax credit, including deferred taxes on basis differences	(0.1)		(0.1)		—		(0.1)		(0.1)		—		(0.2)		(0.2)
Tax credits	(0.7)		(0.5)		—		(0.9)		(0.5)		(0.5)		(0.4)		(0.5)
Other	(0.3)		(1.0)		0.1		(0.6)		—		(0.4)		0.1		(0.2)
Effective income tax rate	2.3	%	18.8	%	2.3	%	(9.4)	%	7.0	%	4.8	%	24.7	%	(9.8)	%


	For the Year Ended December 31, 2020(a)
	Exelon		ComEd(g)		PECO(g)		BGE(h)		PHI(h)		Pepco(h)		DPL(h)		ACE(h)
U.S. federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of federal income tax benefit	11.9		11.6		(4.5)		5.5		5.1		4.5		6.6		7.0
Plant basis differences	(8.6)		(0.6)		(18.7)		(1.5)		(1.6)		(1.7)		(0.4)		(3.0)
Excess deferred tax amortization	(29.1)		(11.2)		(4.6)		(13.9)		(42.0)		(25.4)		(51.7)		(82.1)
Amortization of investment tax credit, including deferred taxes on basis differences	(0.3)		(0.3)		—		(0.1)		(0.2)		(0.1)		(0.3)		(0.5)
Tax credits	(0.5)		(0.3)		—		(0.4)		(0.3)		(0.3)		(0.3)		(0.5)
Deferred Prosecution Agreement payments	3.8		6.8		—		—		—		—		—		—
Other	1.2		1.8		(0.4)		(0.1)		(0.4)		(0.7)		0.1		0.4
Effective income tax rate	(0.6)	%	28.8	%	(7.2)	%	10.5	%	(18.4)	%	(2.7)	%	(25.0)	%	(57.7)	%

__________

(a)Positive percentages represent income tax expense. Negative percentages represent income tax benefit.

(d)For Exelon, reflects the income tax expense related to the write-off of federal tax credits subject to recapture of $15 million as a result of the separation.

Tax Effects of Temporary Differences

The tax effects of temporary differences and carryforwards, which give rise to significant portions of the deferred tax assets (liabilities), as of December 31, 2022 and 2021 are presented below:


	As of December 31, 2022
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Plant basis differences	$	(12,130)	$	(4,823)	$	(2,119)	$	(1,949)	$	(3,131)	$	(1,394)	$	(906)	$	(813)
Accrual based contracts	10		—		—		—		10		—		—		—
Derivatives and other financial instruments	26		23		—		—		2		—		—		—
Deferred pension and postretirement obligation	551		(300)		(31)		(31)		(80)		(76)		(39)		(3)
Deferred debt refinancing costs	132		(5)		—		(2)		111		(4)		(2)		(1)
Regulatory assets and liabilities	(1,107)		(131)		(169)		57		(50)		7		43		11
Tax loss carryforward, net of valuation allowances	250		—		33		72		71		3		20		46
Tax credit carryforward	468		—		—		—		—		—		—		—
Investment in partnerships	(21)		—		—		—		—		—		—		—
Other, net	591		223		73		23		182		83		16		28
Deferred income tax liabilities (net)	$	(11,230)	$	(5,013)	$	(2,213)	$	(1,830)	$	(2,885)	$	(1,381)	$	(868)	$	(732)
Unamortized investment tax credits	(14)		(8)		—		(2)		(4)		(1)		(1)		(2)
Total deferred income tax liabilities (net) and unamortized investment tax credits	$	(11,244)	$	(5,021)	$	(2,213)	$	(1,832)	$	(2,889)	$	(1,382)	$	(869)	$	(734)


	As of December 31, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Plant basis differences	$	(11,606)	$	(4,648)	$	(2,271)	$	(1,826)	$	(2,976)	$	(1,321)	$	(853)	$	(777)
Accrual based contracts	56		—		—		—		56		—		—		—
Derivatives and other financial instruments	63		61		—		—		2		—		—		—
Deferred pension and postretirement obligation	641		(308)		(32)		(37)		(90)		(76)		(40)		(6)
Deferred debt refinancing costs	146		(6)		—		(2)		123		(2)		(1)		(1)
Regulatory assets and liabilities	(1,130)		8		(280)		92		(53)		24		55		31
Tax loss carryforward, net of valuation allowances	242		—		65		68		64		2		18		42
Tax credit carryforward	584		—		—		—		—		—		—		—
Investment in partnerships	(21)		—		—		—		—		—		—		—
Other, net	449		216		97		21		212		99		19		34
Deferred income tax liabilities (net)	$	(10,576)	$	(4,677)	$	(2,421)	$	(1,684)	$	(2,662)	$	(1,274)	$	(802)	$	(677)
Unamortized investment tax credits	(15)		(8)		—		(2)		(5)		(1)		(1)		(2)
Total deferred income tax liabilities (net) and unamortized investment tax credits	$	(10,591)	$	(4,685)	$	(2,421)	$	(1,686)	$	(2,667)	$	(1,275)	$	(803)	$	(679)

Summary of Loss Carryforwards


	Exelon		PECO		BGE		PHI		Pepco		DPL		ACE
Federal


Federal general business credits carryforwards(a)	$	468	$	—	$	—	$	—	$	—	$	—	$	—
State
State net operating loss carryforwards	4,991		970		1,142		1,501		50		768		651
Deferred taxes on state tax attributes (net of federal taxes)	307		37		72		104		3		52		46
Valuation allowance on state tax attributes (net of federal taxes)(b)	57		4		—		33		—		32		—
Year in which net operating loss or credit carryforwards will begin to expire(c)	2035		2032		2033		2029		N/A		2032		2031

__________

(a)For Exelon, the federal general business credit carryforward will begin expiring in 2035.

(c)A portion of Exelon's, BGE's, Pepco's, and DPL's Maryland state net operating loss carryforward have an indefinite carryforward period.

Schedule of Unrecognized Tax Benefits Roll Forward

The following table presents changes in unrecognized tax benefits, for Exelon, PHI, and ACE. ComEd's, PECO's, BGE's, Pepco's, and DPL's amounts are not material.


	Exelon(a)		PHI		ACE
Balance at January 1, 2020	$	95	$	48	$	14
Change to positions that only affect timing	6		3		1
Increases based on tax positions related to 2020	3		—		—
Increases based on tax positions prior to 2020	26		1		—
Decreases based on tax positions prior to 2020	(5)		—		—

Balance at December 31, 2020	125		52		15
Change to positions that only affect timing	13		3		1
Increases based on tax positions related to 2021	4		1		—
Increases based on tax positions prior to 2021	4		—		—
Decreases based on tax positions prior to 2021	(3)		—		—
Balance at December 31, 2021	143		56		16
Change to positions that only affect timing	(1)		1		1
Increases based on tax positions related to 2022	3		2		—
Increases based on tax positions prior to 2022	3		—		—
Decreases based on tax positions prior to 2022	—		—		—

Balance at December 31, 2022	$	148	$	59	$	17

______

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible

The following table presents Exelon's unrecognized tax benefits that, if recognized, would decrease the effective tax rate. The Utility Registrants' amounts are not material.


	Exelon



December 31, 2022	$	90
December 31, 2021	77
December 31, 2020	73

Total amounts of interest and penalties recognized


Net interest and penalties receivable as of	Exelon
December 31, 2022 (a) (b)	$	45
December 31, 2021 (c)	43

__________

(a)As of December 31, 2022, the interest receivable balance is not expected to be settled in cash within the next twelve months and is therefore classified as a noncurrent receivable.

Long-Term Marginal State Income Tax Rate

The impacts to ComEd, BGE, PHI, Pepco, DPL, and ACE for the years ended December 31, 2022, 2021, and 2020 were not material.


December 31, 2022	Exelon
Increase to Deferred Income Tax Liability and Income Tax Expense, Net of Federal Taxes	$	67

December 31, 2021
Increase to Deferred Income Tax Liability and Income Tax Expense, Net of Federal Taxes	$	27

December 31, 2020
Increase to Deferred Income Tax Liability and Income Tax Expense, Net of Federal Taxes	$	66

Allocation of Federal Tax Benefit Under Tax Sharing Agreement

The following table presents the allocation of tax benefits from Exelon under the Tax Sharing Agreement, for the year ended December 31, 2022, 2021, and 2020.


	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
December 31, 2022(a)	$	1	$	47	$	—	$	28	$	23	$	3	$	2
December 31, 2021(b)	1		19		—		17		16		—		—
December 31, 2020(c)	14		17		—		17		8		6		1

__________

(a)BGE did not record an allocation of federal tax benefits from Exelon under the Tax Sharing Agreement as a result of a tax net operating loss.

(b)BGE, DPL, and ACE did not record an allocation of federal tax benefits from Exelon under the Tax Sharing Agreement as a result of a tax net operating loss.

(c)BGE did not record an allocation of federal tax benefits from Exelon under the Tax Sharing Agreement as a result of a tax net operating loss.

Related Party Transactions - Long Term Debt to Financing Trusts (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Long-term debt to financing trusts	$ 390	$ 390
ComEd Financing III Affiliate [Member]
Related Party Transaction [Line Items]
Long-term debt to financing trusts	206	206
PECO Trust III Affiliate [Member]
Related Party Transaction [Line Items]
Long-term debt to financing trusts	81	81
PECO Trust IV Affiliate [Member]
Related Party Transaction [Line Items]
Long-term debt to financing trusts	103	103
Commonwealth Edison Co [Member]
Related Party Transaction [Line Items]
Long-term debt to financing trusts	205	205
Commonwealth Edison Co [Member] \| ComEd Financing III Affiliate [Member]
Related Party Transaction [Line Items]
Long-term debt to financing trusts	205	205
Commonwealth Edison Co [Member] \| PECO Trust III Affiliate [Member]
Related Party Transaction [Line Items]
Long-term debt to financing trusts	0	0
Commonwealth Edison Co [Member] \| PECO Trust IV Affiliate [Member]
Related Party Transaction [Line Items]
Long-term debt to financing trusts	0	0
PECO Energy Co [Member]
Related Party Transaction [Line Items]
Long-term debt to financing trusts	184	184
PECO Energy Co [Member] \| ComEd Financing III Affiliate [Member]
Related Party Transaction [Line Items]
Long-term debt to financing trusts	0	0
PECO Energy Co [Member] \| PECO Trust III Affiliate [Member]
Related Party Transaction [Line Items]
Long-term debt to financing trusts	81	81
PECO Energy Co [Member] \| PECO Trust IV Affiliate [Member]
Related Party Transaction [Line Items]
Long-term debt to financing trusts	$ 103	$ 103

Asset Retirement Obligations - Nuclear Decommissioning Asset Retirement Obligation Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Accretion expense	$ (44)	$ (514)	$ (500)

Changes in Accumulated Other Comprehensive Income (Exelon)

12 Months Ended

Dec. 31, 2022