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Segment Information (All Registrants)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information (All Registrants) 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. The Chief Executive Officer is the CODM for Exelon. For PHI and each of the Utility Registrants, CODM responsibilities are shared by Exelon's Chief Operating Officer and the Utility Registrant's Chief Executive Officer.
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, PHI, Pepco, DPL, and ACE's CODMs rely on a variety of business considerations, including net income, in evaluating segment performance, determining reinvestment of profits, and establishing the amounts of dividend distributions.
An analysis and reconciliation of the Registrants’ reportable segment information to the respective information in the consolidated financial statements for the three months ended March 31, 2025 and 2024 is as follows:
ComEdPECOBGEPHI
Other(a)
Intersegment
Eliminations		Exelon
Operating revenues(b):
2025
Electric revenues$2,065 $956 $1,012 $1,687 $— $(11)$5,709 
Natural gas revenues— 377 542 88 — (2)1,005 
Shared service and other revenues— — — 3 466 (469)— 
Total operating revenues$2,065 $1,333 $1,554 $1,778 $466 $(482)$6,714 
2024
Electric revenues$2,095 $782 $881 $1,532 $— $(6)$5,284 
Natural gas revenues— 272 416 72 — (1)759 
Shared service and other revenues— — — 2 459 (461)— 
Total operating revenues$2,095 $1,054 $1,297 $1,606 $459 $(468)$6,043 
Less:
Purchased power
2025$689 $361 $450 $684 $— $— $2,184 
2024907 306 377 607 — — 2,197 
Purchased fuel
2025$— $141 $159 $38 $— $— $338 
2024— 97 87 29 — — 213 
ComEdPECOBGEPHI
Other(a)
Intersegment
Eliminations		Exelon
Operating and maintenance
2025$323 $266 $242 $296 $429 $(209)$1,347 
2024318 235 205 274 438 (199)1,271 
Operating and maintenance from affiliates
2025$100 $61 $63 $53 $11 $(288)$— 
2024100 58 59 51 9 (277)— 
Depreciation and amortization
2025$380 $109 $164 $234 $16 $— $903 
2024362 104 150 246 17 — 879 
Taxes other than income taxes
2025$99 $60 $96 $140 $10 $— $405 
202494 51 89 128 9 — 371 
(Gain) loss on sale of assets
2025$— $— $— $1 $— $— $1 
2024— (2)— — — — (2)
Interest expense, net(c)
2025$125 $59 $58 $99 $163 $— $504 
2024119 52 50 90 151 — 462 
Interest expense from affiliates, net(c)
2025$3 $4 $— $1 $(1)$(1)$6 
20243 3 — — — — 6 
Other, net
2025$(21)$(8)$(9)$(19)$(11)$16 $(52)
2024(20)(9)(8)(27)(19)8 (75)
Income taxes
2025$65 $14 $71 $57 $(37)$— $170 
202419 10 24 40 (30)— 63 
Net income (loss) attributable to common shareholders
2025$302 $266 $260 $194 $(114)$— $908 
2024193 149 264 168 (116)— 658 
Supplemental segment information
Intersegment revenues(d)
2025$8 $3 $2 $2 $463 $(478)$— 
20242 2 2 3 457 (466)— 
Capital expenditures
2025$590 $424 $406 $513 $13 $— $1,946 
2024594 361 324 453 35 — 1,767 
Total assets
March 31, 2025$45,199 $17,789 $15,677 $28,349 $6,530 $(4,060)$109,484 
December 31, 202444,750 17,123 15,542 28,297 6,012 (3,940)107,784 
__________
(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)Interest expense, net and Interest expense to affiliates, net are primarily inclusive of Interest expense, which is partially offset by an immaterial amount of Interest income.
(d)See Note 15 — Related Party Transactions for additional information on intersegment revenues.

PHI:
PepcoDPLACE
Other(a)
Intersegment
Eliminations		PHI
Operating revenues(b):
2025
Electric revenues$859 $460 $373 $— $(5)$1,687 
Natural gas revenues— 88 — — — 88 
Shared service and other revenues— — — 106 (103)3 
Total operating revenues$859 $548 $373 $106 $(108)$1,778 
2024
Electric revenues$759 $419 $358 $— $(4)$1,532 
Natural gas revenues— 72 — — — 72 
Shared service and other revenues— — — 109 (107)2 
Total operating revenues$759 $491 $358 $109 $(111)$1,606 
Less:
Purchased power
2025$318 $209 $157 $— $— $684 
2024281 186 140 — — 607 
Purchased fuel
2025$— $38 $— $— $— $38 
2024— 29 — — — 29 
Operating and maintenance
2025$96 $60 $51 $89 $— $296 
202486 51 47 90 — 274 
Operating and maintenance from affiliates
2025$63 $46 $39 $13 $(108)$53 
202464 44 40 14 (111)51 
Depreciation and amortization
2025$105 $63 $64 $2 $— $234 
2024107 61 74 4 — 246 
Taxes other than income taxes
2025$113 $21 $2 $4 $— $140 
2024102 20 2 4 — 128 
Loss on sale of assets
2025$1 $— $— $— $— $1 
2024— — — — — — 
Interest expense, net(c)
2025$52 $25 $21 $1 $— $99 
202445 22 20 3 — 90 
Interest expense to affiliates, net(c)
2025$— $— $— $1 $— $1 
2024— — — — — — 
Other, net
2025$(11)$(4)$(3)$(1)$— $(19)
2024(15)(5)(5)(2)— (27)
Income taxes
2025$25 $21 $11 $— $— $57 
202414 17 11 (2)— 40 
Net income (loss) attributable to common shareholders
2025$97 $69 $31 $(3)$— $194 
202475 66 29 (2)— 168 
Supplemental segment information
Intersegment revenues(d)
2025$2 $2 $1 $106 $(109)$2 
20242 2 1 109 (111)3 
Capital expenditures
2025$240 $156 $105 $12 $— $513 
2024229 134 89 1 — 453 
Total assets
March 31, 2025$12,011 $6,484 $5,387 $4,521 $(54)$28,349 
December 31, 202412,000 6,421 5,349 4,567 (40)28,297 
__________
(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)Interest expense, net and Interest expense to affiliates, net are primarily inclusive of Interest expense, which is partially offset by an immaterial amount of Interest income.
(d)Includes intersegment revenues with ComEd, PECO, and BGE, which are eliminated at Exelon.

Electric and Gas Revenue by Customer Class (Utility Registrants):
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 March 31, 2025
Revenues from contracts with customersComEdPECOBGEPHIPepcoDPLACE
Electric revenues
Residential$993 $631 $648 $918 $424 $298 $196 
Small commercial & industrial600 162 109 169 51 64 54 
Large commercial & industrial296 84 144 367 289 28 50 
Public authorities & electric railroads17 8 8 17 8 4 5 
Other(a)
236 76 113 223 86 71 68 
Total electric revenues(b)
$2,142 $961 $1,022 $1,694 $858 $465 $373 
Natural gas revenues
Residential$— $267 $378 $56 $— $56 $— 
Small commercial & industrial— 86 63 21 — 21 — 
Large commercial & industrial— — 96 3 — 3 — 
Transportation— 13 — 5 — 5 — 
Other(c)
— 10 24 3 — 3 — 
Total natural gas revenues(d)
$— $376 $561 $88 $— $88 $— 
Total revenues from contracts with customers$2,142 $1,337 $1,583 $1,782 $858 $553 $373 
Other revenues
Revenues from alternative revenue programs$(85)$(9)$(29)$(3)$2 $(5)$— 
Other electric revenues(e)
8 4 — (1)(1)— — 
Other natural gas revenues(e)
— 1 — — — — — 
Total other revenues$(77)$(4)$(29)$(4)$1 $(5)$— 
Total revenues for reportable segments$2,065 $1,333 $1,554 $1,778 $859 $548 $373 
Three Months Ended March 31, 2024
Revenues from contracts with customersComEdPECOBGEPHIPepcoDPLACE
Electric revenues
Residential$918 $520 $534 $775 $345 $256 $174 
Small commercial & industrial594 126 90 158 46 62 50 
Large commercial & industrial320 57 132 340 262 29 49 
Public authorities & electric railroads17 7 7 20 11 4 5 
Other(a)
227 74 93 192 64 63 67 
Total electric revenues(b)
$2,076 $784 $856 $1,485 $728 $414 $345 
Natural gas revenues
Residential$— $193 $271 $46 $— $46 $— 
Small commercial & industrial— 64 47 17 — 17 — 
Large commercial & industrial— — 72 2 — 2 — 
Transportation— 8 — 5 — 5 — 
Other(c)
— 7 5 2 — 2 — 
Total natural gas revenues(d)
$— $272 $395 $72 $— $72 $— 
Total revenues from contracts with customers$2,076 $1,056 $1,251 $1,557 $728 $486 $345 
Other revenues
Revenues from alternative revenue programs$19 $(2)$43 $46 $29 $4 $13 
Other electric revenues(e)
— — 2 3 2 1 — 
Other natural gas revenues(e)
— — 1 — — — — 
Total other revenues$19 $(2)$46 $49 $31 $5 $13 
Total revenues for reportable segments$2,095 $1,054 $1,297 $1,606 $759 $491 $358 
__________
(a)Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue.
(b)Includes operating revenues from affiliates in 2025 and 2024 respectively of:
•$8 million, $2 million at ComEd
•$2 million, $2 million at PECO
•$1 million, $1 million at BGE
•$2 million, $3 million at PHI
•$2 million, $2 million at Pepco
•$2 million, $2 million at DPL
•$1 million, $1 million at ACE
(c)Includes revenues from off-system natural gas sales.
(d)Includes operating revenues from affiliates in 2025 and 2024 respectively of:
•$1 million, less than $1 million at PECO
•$1 million, $1 million at BGE
(e)Includes late payment charge revenues.