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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Analysis and reconciliation of reportable segment information
An analysis and reconciliation of the Registrants’ reportable segment information to the respective information in the consolidated financial statements for the three and nine months ended September 30, 2024 and 2023 is as follows:
Three Months Ended September 30, 2024 and 2023
ComEdPECOBGEPHI
Other(a)
Intersegment
Eliminations		Exelon
Operating revenues(b):
2024
Electric revenues$2,229 $960 $925 $1,836 $— $(6)$5,944 
Natural gas revenues— 70 119 23 — (2)210 
Shared service and other revenues— — — 3 441 (444)— 
Total operating revenues$2,229 $1,030 $1,044 $1,862 $441 $(452)$6,154 
2023
Electric revenues$2,268 $970 $836 $1,747 $— $(28)$5,793 
Natural gas revenues— 67 96 24 — — 187 
Shared service and other revenues— — — 2 445 (447)— 
Total operating revenues$2,268 $1,037 $932 $1,773 $445 $(475)$5,980 
Intersegment revenues(c):
2024$2 $4 $3 $3 $438 $(450)$— 
20239 2 2 2 443 (458)— 
Depreciation and amortization:
2024$387 $108 $162 $235 $16 $— $908 
2023357 100 161 257 15 — 890 
Operating expenses:
2024$1,731 $868 $949 $1,439 $439 $(465)$4,961 
20231,738 847 835 1,440 475 (478)4,857 
Interest expense, net:
2024$128 $58 $57 $95 $158 $— $496 
2023119 52 47 80 139 — 437 
Income Taxes:
2024$36 $(4)$4 $72 $(58)$— $50 
202394 3 11 49 (90)— 67 
Net income (loss):
2024$360 $117 $45 $278 $(93)$— $707 
2023333 146 45 232 (41)(15)700 
Capital Expenditures:
2024$508 $382 $365 $440 $— $— $1,695 
2023664 361 330 488 12 — 1,855 
______________
(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 Taxes other than income taxes in the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 14 — Supplemental Financial Information for additional information on total utility taxes.
(c)See Note 15 — Related Party Transactions for additional information on intersegment revenues.
PHI:
PepcoDPLACE
Other(a)
Intersegment
Eliminations		PHI
Operating revenues(b):
2024
Electric revenues$861 $439 $540 $— $(4)$1,836 
Natural gas revenues— 23 — — — 23 
Shared service and other revenues— — — 103 (100)3 
Total operating revenues$861 $462 $540 $103 $(104)$1,862 
2023
Electric revenues$822 $426 $502 $— $(3)$1,747 
Natural gas revenues— 24 — — — 24 
Shared service and other revenues— — — 103 (101)2 
Total operating revenues$822 $450 $502 $103 $(104)$1,773 
Intersegment revenues(c):
2024$2 $2 $1 $103 $(105)$3 
20231 2 — 103 (104)2 
Depreciation and amortization:
2024$102 $62 $67 $4 $— $235 
2023112 62 77 6 — 257 
Operating expenses:
2024$650 $377 $410 $106 $(104)$1,439 
2023658 386 394 105 (103)1,440 
Interest expense, net:
2024$50 $22 $21 $3 $(1)$95 
202341 18 19 3 (1)80 
Income Taxes:
2024$32 $14 $30 $(4)$— $72 
202321 8 23 (3)— 49 
Net income (loss):
2024$140 $55 $83 $— $— $278 
2023120 43 71 (2)— 232 
Capital Expenditures:
2024$218 $136 $85 $1 $— $440 
2023227 158 101 2 — 488 
__________
(a)Other primarily includes PHI’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 Taxes other than income taxes in the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 14 — Supplemental Financial Information for additional information on total utility taxes.
(c)Includes intersegment revenues with ComEd, PECO, and BGE, which are eliminated at Exelon.
ComEdPECOBGEPHI
Other(a)
Intersegment
Eliminations		Exelon
Operating revenues(b):
2024
Electric revenues$6,403 $2,537 $2,588 $4,809 $— $(17)$16,320 
Natural gas revenues— 438 680 122 — (3)1,237 
Shared service and other revenues— — — 7 1,369 (1,376)— 
Total operating revenues$6,403 $2,975 $3,268 $4,938 $1,369 $(1,396)$17,557 
2023
Electric revenues$5,836 $2,484 $2,322 $4,459 $— $(45)$15,056 
Natural gas revenues— 493 664 150 — (3)1,304 
Shared service and other revenues— — — 6 1,316 (1,322)— 
Total operating revenues$5,836 $2,977 $2,986 $4,615 $1,316 $(1,370)$16,360 
Intersegment revenues(c):
2024$6 $7 $7 $7 $1,362 $(1,389)$— 
202314 6 6 7 1,310 (1,343)— 
Depreciation and amortization:
2024$1,124 $318 $474 $716 $49 $— $2,681 
20231,045 297 487 741 46 — 2,616 
Operating expenses:
2024$5,192 $2,471 $2,751 $3,977 $1,382 $(1,425)$14,348 
20234,472 2,436 2,503 3,864 1,521 (1,367)13,429 
Interest expense, net:
2024$374 $170 $159 $279 $466 $(2)$1,446 
2023357 149 135 238 402 (4)1,277 
Income taxes:
2024$85 $9 $32 $158 $(126)$— $158 
2023235 8 76 103 (149)1 274 
Net income (loss):
2024$823 $356 $353 $603 $(322)$— $1,813 
2023822 410 286 490 (275)(22)1,711 
Capital expenditures:
2024$1,619 $1,125 $1,033 $1,343 $41 $— $5,161 
20231,926 1,068 986 1,510 50 — 5,540 
Total assets:
September 30, 2024$44,718 $16,748 $15,038 $27,672 $5,804 $(3,910)$106,070 
December 31, 202342,827 15,595 14,184 26,903 6,374 (4,337)101,546 
__________
(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 Taxes other than income taxes in the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 14 — Supplemental Financial Information for additional information on total utility taxes.
(c)See Note 15 — Related Party Transactions for additional information on intersegment revenues.
PHI:
PepcoDPLACE
Other(a)
Intersegment
Eliminations		PHI
Operating revenues(b):
2024
Electric revenues$2,320 $1,221 $1,280 $— $(12)$4,809 
Natural gas revenues— 122 — — — 122 
Shared service and other revenues— — — 328 (321)7 
Total operating revenues$2,320 $1,343 $1,280 $328 $(333)$4,938 
2023
Electric revenues$2,174 $1,123 $1,172 $1 $(11)$4,459 
Natural gas revenues— 150 — — — 150 
Shared service and other revenues— — — 309 (303)6 
Total operating revenues$2,174 $1,273 $1,172 $310 $(314)$4,615 
Intersegment revenues(c):
2024$5 $5 $2 $328 $(333)$7 
20235 5 1 309 (313)7 
Depreciation and amortization:
2024$307 $183 $214 $12 $— $716 
2023329 182 212 18 — 741 
Operating expenses:
2024$1,824 $1,099 $1,052 $335 $(333)$3,977 
20231,810 1,079 971 318 (314)3,864 
Interest expense, net:
2024$142 $69 $59 $10 $(1)$279 
2023122 53 52 9 2 238 
Income taxes:
2024$74 $39 $48 $(3)$— $158 
202343 25 40 (5)— 103 
Net income (loss):
2024$323 $156 $133 $(9)$— $603 
2023249 128 122 (9)— 490 
Capital expenditures:
2024$672 $404 $265 $2 $— $1,343 
2023710 416 376 8 — 1,510 
Total assets:
September 30, 2024$11,602 $6,204 $5,329 $4,573 $(36)$27,672 
December 31, 202311,194 5,966 5,157 4,627 (41)26,903 
__________
(a)Other primarily includes PHI’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 Taxes other than income taxes in the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 14 — Supplemental Financial Information for additional information on total utility taxes.
(c)Includes intersegment revenues with ComEd, PECO, and BGE, which are eliminated at Exelon.
Schedule of Revenue by Major Customers by Reporting Segments
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.
Three Months Ended September 30, 2024
Revenues from contracts with customersComEdPECOBGEPHIPepcoDPLACE
Electric revenues
Residential$1,117 $641 $558 $1,016 $426 $267 $323 
Small commercial & industrial603 153 96 203 52 69 82 
Large commercial & industrial286 73 154 365 281 31 53 
Public authorities & electric railroads11 7 8 18 9 4 5 
Other(a)
280 74 110 225 85 70 71 
Total electric revenues(b)
$2,297 $948 $926 $1,827 $853 $441 $534 
Natural gas revenues
Residential$— $44 $58 $11 $— $11 $— 
Small commercial & industrial— 17 11 6 — 6 — 
Large commercial & industrial— — 32 1 — 1 — 
Transportation— 7 — 4 — 4 — 
Other(c)
— 2 3 1 — 1 — 
Total natural gas revenues(d)
$— $70 $104 $23 $— $23 $— 
Total revenues from contracts with customers$2,297 $1,018 $1,030 $1,850 $853 $464 $534 
Other revenues
Revenues from alternative revenue programs$(76)$5 $9 $8 $5 $(3)$6 
Other electric revenues(e)
8 7 4 4 3 1 — 
Other natural gas revenues(e)
— — 1 — — — — 
Total other revenues$(68)$12 $14 $12 $8 $(2)$6 
Total revenues for reportable segments$2,229 $1,030 $1,044 $1,862 $861 $462 $540 
Three Months Ended September 30, 2023
Revenues from contracts with customersComEdPECOBGEPHIPepcoDPLACE
Electric revenues
Residential$1,047 $654 $512 $959 $405 $255 $299 
Small commercial & industrial540 148 86 199 54 70 75 
Large commercial & industrial263 67 144 386 303 32 51 
Public authorities & electric railroads11 7 7 16 9 3 4 
Other(a)
265 80 104 201 67 67 68 
Total electric revenues(b)
$2,126 $956 $853 $1,761 $838 $427 $497 
Natural gas revenues
Residential$— $43 $57 $12 $— $12 $— 
Small commercial & industrial— 16 10 7 — 7 — 
Large commercial & industrial— — 25 1 — 1 — 
Transportation— 7 — 3 — 3 — 
Other(c)
— 1 4 1 — 1 — 
Total natural gas revenues(d)
$— $67 $96 $24 $— $24 $— 
Total revenues from contracts with customers$2,126 $1,023 $949 $1,785 $838 $451 $497 
Other revenues
Revenues from alternative revenue programs$135 $11 $(22)$(15)$(18)$(2)$5 
Other electric revenues(e)
7 3 4 3 2 1 — 
Other natural gas revenues(e)
— — 1 — — — — 
Total other revenues$142 $14 $(17)$(12)$(16)$(1)$5 
Total revenues for reportable segments$2,268 $1,037 $932 $1,773 $822 $450 $502 
__________
(a)Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue.
(b)Includes operating revenues from affiliates in 2024 and 2023 respectively of:
•$2 million, $9 million at ComEd
•$3 million, $2 million at PECO
•$2 million, $1 million at BGE
•$3 million, $2 million at PHI
•$2 million, $1 million at Pepco
•$2 million, $2 million at DPL
•$1 million, less than $1 million at ACE
(c)Includes off-system natural gas sales.
(d)Includes operating revenues from affiliates in 2024 and 2023 respectively of:
•$1 million, less than $1 million at PECO
•$1 million, $1 million at BGE
(e)Includes late payment charge revenues.
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.
Nine Months Ended September 30, 2024
Revenues from contracts with customersComEdPECOBGEPHIPepcoDPLACE
Electric revenues
Residential$3,017 $1,683 $1,556 $2,537 $1,085 $725 $727 
Small commercial & industrial1,755 407 274 519 141 191 187 
Large commercial & industrial875 191 425 1,034 794 91 149 
Public authorities & electric railroads43 21 24 52 26 12 14 
Other(a)
803 221 303 623 224 198 206 
Total electric revenues(b)
$6,493 $2,523 $2,582 $4,765 $2,270 $1,217 $1,283 
Natural gas revenues
Residential$— $300 $418 $72 $— $72 $— 
Small commercial & industrial— 106 76 29 — 29 — 
Large commercial & industrial— — 143 4 — 4 — 
Transportation— 20 — 12 — 12 — 
Other(c)
— 11 12 5 — 5 — 
Total natural gas revenues(d)
$— $437 $649 $122 $— $122 $— 
Total revenues from contracts with customers$6,493 $2,960 $3,231 $4,887 $2,270 $1,339 $1,283 
Other revenues
Revenues from alternative revenue programs$(100)$3 $28 $40 $42 $1 $(3)
Other electric revenues(e)
10 11 7 11 8 3 — 
Other natural gas revenues(e)
— 1 2 — — — — 
Total other revenues$(90)$15 $37 $51 $50 $4 $(3)
Total revenues for reportable segments$6,403 $2,975 $3,268 $4,938 $2,320 $1,343 $1,280 
Nine Months Ended September 30, 2023
Revenues from contracts with customersComEdPECOBGEPHIPepcoDPLACE
Electric revenues
Residential$2,744 $1,617 $1,308 $2,181 $954 $626 $601 
Small commercial & industrial1,363 415 253 503 134 189 180 
Large commercial & industrial553 196 412 1,099 838 98 163 
Public authorities & electric railroads33 23 22 49 25 11 13 
Other(a)
716 219 303 563 187 186 194 
Total electric revenues(b)
$5,409 $2,470 $2,298 $4,395 $2,138 $1,110 $1,151 
Natural gas revenues
Residential$— $335 $406 $88 $— $88 $— 
Small commercial & industrial— 123 66 40 — 40 — 
Large commercial & industrial— 1 124 3 — 3 — 
Transportation— 20 — 11 — 11 — 
Other(c)
— 12 28 8 — 8 — 
Total natural gas revenues(d)
$— $491 $624 $150 $— $150 $— 
Total revenues from contracts with customers$5,409 $2,961 $2,922 $4,545 $2,138 $1,260 $1,151 
Other revenues
Revenues from alternative revenue programs$405 $1 $47 $59 $28 $10 $21 
Other electric revenues(e)
22 13 12 11 8 3 — 
Other natural gas revenues(e)
— 2 5 — — — — 
Total other revenues$427 $16 $64 $70 $36 $13 $21 
Total revenues for reportable segments$5,836 $2,977 $2,986 $4,615 $2,174 $1,273 $1,172 
__________
(a)Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue.
(b)Includes operating revenues from affiliates in 2024 and 2023 respectively of:
•$6 million, $14 million at ComEd
•$5 million, $5 million at PECO
•$4 million, $4 million at BGE
•$7 million, $7 million at PHI
•$5 million, $5 million at Pepco
•$5 million, $5 million at DPL
•$2 million, $1 million at ACE
(c)Includes off-system natural gas sales.
(d)Includes operating revenues from affiliates in 2024 and 2023 respectively of:
•$2 million, $1 million at PECO
•$3 million, $2 million at BGE
(e)Includes late payment charge revenues.