ComEd 2013 Annual Report Download - page 182

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dollars, Generation utilizesforeigncurrency derivatives, which are typicallydesignatedaseconomic hedges. Belowisasummaryof
theinterest rate andforeigncurrency hedgesasofDecember 31,2013.
Generation Other Exelon
Description
Derivatives
Designated as
Hedging
Instruments
Economic
Hedges
Proprietary
Trading (a)
Collateral
and Netting
(b) Subtotal
Derivatives
Designated as
Hedging
Instruments Total
Mark-to-market derivativeassets(Current
Assets) ................................... $— $3$15$(19) $ (1)$— $(1)
Mark-to-market derivativeassets(Noncurrent
Assets) ................................... 26315(13)31 738
Total mark-to-market derivativeassets ........... $26$6$30 $(32)$30 $7 $37
Mark-to-market derivativeliabilities(Current
Liabilities) ................................. $ (1)$(1)$(18) $ 19$(1)$— $(1)
Mark-to-market derivativeliabilities(Noncurrent
Liabilities) ................................. (10)(1)(13)13 (11) (4) (15)
Total mark-to-market derivativeliabilities ......... $(11)$(2)$(31)$32 $(12) $ (4) $(16)
Total mark-to-market derivative net assets
(liabilities) ................................. $ 15$4$(1)$— $18$3$21
(a)Generation entersinto interest rate derivativecontractsto economicallyhedgerisk associatedwiththeinterest rate component ofcommoditypositions. The
characterization oftheinterest rate derivativecontractsbetween the proprietarytradingactivityintheabovetable is driven by thecorrespondingcharacterization of
theunderlyingcommodityposition that givesrisetotheinterest rate exposure.Generation doesnot utilize proprietarytradinginterest rate derivativeswiththe
objectiveofbenefitingfrom shiftsor changesinmarket interest rates.
(b) Representsthe nettingoffairvalue balanceswiththesamecounterpartyandanyassociatedcash collateral.
Thefollowingtable providesasummaryoftheinterest rate hedgebalancesrecordedbytheRegistrantsasofDecember 31,2012:
Generation Other Exelon
Description
Derivatives
Designated as
Hedging
Instruments
Economic
Hedges
Proprietary
Trading (a)
Collateral
and Netting
(b) Subtotal
Derivatives
Designated as
Hedging
Instruments Total
Mark-to-market derivativeassets(Current
Assets) ................................... $— $ 3$20 $(19) $ 4 $— $ 4
Mark-to-market derivativeassets(Noncurrent
Assets) ................................... 38832 (32)46 13 59
Total mark-to-market derivativeassets ........... $ 38$11 $52$(51)$50$13 $63
Mark-to-market derivativeliabilities(Current
Liabilities) ................................. $ (1)$(1)$(19) $ 19$(2)$— $(2)
Mark-to-market derivativeliabilities(Noncurrent
Liabilities) ................................. (31)— (32)32 (31)— (31)
Total mark-to-market derivativeliabilities ......... (32)(1)(51)51(33)— (33)
Total mark-to-market derivative net assets
(liabilities) ................................. $ 6 $ 10 $1$— $ 17$13 $30
(a)Generation entersinto interest rate derivativecontractsto economicallyhedgerisk associatedwiththeinterest rate component ofcommoditypositions. The
characterization oftheinterest rate derivativecontractsbetween the proprietarytradingactivityintheabovetable is driven by thecorrespondingcharacterization of
theunderlyingcommodityposition that givesrisetotheinterest rate exposure.Generation doesnot utilize proprietarytradinginterest rate derivativeswiththe
objectiveofbenefitingfrom shiftsor changesinmarket interest rates.
(b) Representsthe nettingoffairvalue balanceswiththesamecounterpartyandanyassociatedcash collateral.
176