UNITED STATES SECURITIES AND EXCHANGE COMMISSION | |||||||||||
Washington, D.C. 20549 | |||||||||||
FORM | |||||||||||
CURRENT REPORT | |||||||||||
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | |||||||||||
Date of Report (Date of earliest event reported) |
Commission File Number | Name of Registrant; State or Other Jurisdiction of Incorporation; Address of Principal Executive Offices; and Telephone Number | IRS Employer Identification Number | ||||||||||||
(a | ||||||||||||||
(a | ||||||||||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | |||||
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act: | ||||||||||||||
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
EXELON CORPORATION: | ||||||||||||||
Indicate by check mark whether any of the registrants are emerging growth companies as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | ||
Emerging growth company |
If an emerging growth company, indicate by check mark if any of the registrants have elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ |
(in millions) | 2020 | 2021 | ||||||||||||
Income statement expenses (pre-tax): | ||||||||||||||
Depreciation and Amortization | ||||||||||||||
Accelerated depreciation(a) | $875 to $950 | $2,075 to $2,200 | ||||||||||||
Accelerated nuclear fuel amortization | $50 to $75 | $175 to $200 | ||||||||||||
Operating and Maintenance | ||||||||||||||
Decreased ARO accretion | Less than ($25) | Less than ($25) | ||||||||||||
Contractual offset for ARO accretion and ARC depreciation(b) | ($325) to ($400) | ($775) to ($900) |
(a) | Includes the accelerated depreciation of plant assets including any ARC. | ||||
(b) | Based on the regulatory agreement with the Illinois Commerce Commission for the former Commonwealth Edison Company (ComEd) units, decommissioning-related activities are offset within Exelon’s and Generation’s Consolidated Statements of Operations and Comprehensive Income and the offset results in an equal adjustment to the noncurrent affiliate payable/receivable between Generation and ComEd and the regulatory liabilities recognized at ComEd. Should the expected value of the NDT fund for any former ComEd unit fall below the amount of the expected decommissioning obligation for that unit, the accounting to offset decommissioning-related activities at Generation for that unit would be discontinued and the decommissioning-related activities would be recognized in Exelon’s and Generation’s Consolidated Statements of Operations and Comprehensive Income, the adverse impact of which could be material. |
Exhibit No. | Description | |||||||
101 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | |||||||
104 | The cover page from this Current Report on Form 8-K, formatted as Inline XBRL. |
EXELON CORPORATION | |||||
/s/ Joseph Nigro | |||||
Joseph Nigro | |||||
Senior Executive Vice President and Chief Financial Officer | |||||
Exelon Corporation | |||||
EXELON GENERATION COMPANY, LLC | |||||
/s/ Bryan P. Wright | |||||
Bryan P. Wright | |||||
Senior Vice President and Chief Financial Officer | |||||
Exelon Generation Company, LLC | |||||
Exhibit No. | Description | |||||||
101 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | |||||||
104 | The cover page from this Current Report on Form 8-K, formatted as Inline XBRL. |
Contact: | Bill Gibbons Exelon Media Relations 708-932-6123 william.gibbons@exeloncorp.com | FOR IMMEDIATE RELEASE |
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