Exelon 2014 Annual Report Download - page 278

Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
For the year ended December 31,
2014 2013 2012
Cash paid (refunded) during the year:
Interest (net of amount capitalized) ..................................................... $ 940 $866 $ 761
Income taxes (net of refunds) ......................................................... $ 314 112 (171)
Other non-cash operating activities:
Pension and non-pension postretirement benefit costs ..................................... $ 560 $825 820
Gain from equity method investments ................................................... — (10) —
Loss from equity method investments ................................................... 22 — —
Earnings from equity method investments ............................................... — — 91
Provision for uncollectible accounts ..................................................... 156 101 164
Provision for excess and obsolete inventory .............................................. 5 9 6
Stock-based compensation costs ...................................................... 91 120 94
Other decommissioning-related activity (a) ................................................ (132) (169) (145)
Energy-related options (b) ............................................................. 122 104 160
Amortization of regulatory asset related to debt costs ...................................... 11 12 18
Amortization of rate stabilization deferral ................................................ 65 66 57
Amortization of debt fair value adjustment ............................................... (23) (34) (34)
Merger-related commitments .......................................................... 44 — 141
Severance costs .................................................................... — — 99
Amortization of debt costs ............................................................ 53 18 19
Discrete impacts from EIMA (c) ......................................................... 53 (271) (96)
Lower of cost or market inventory adjustment ............................................ 29 — —
Other ............................................................................. (2) (53) (30)
Total other non-cash operating activities ................................................. $1,054 $ 718 $1,364
Changes in other assets and liabilities:
Under/over-recovered energy and transmission costs ...................................... $ 47 $ 12 $ 71
Other regulatory assets and liabilities ................................................... (167) (64) (404)
Cash deposits (d) .................................................................... (241) — —
Other current assets ................................................................. 7 (165) 213
Other noncurrent assets and liabilities .................................................. (204) 322 (248)
Total changes in other assets and liabilities .............................................. $ (558) $ 105 $ (368)
Non-cash investing and financing activities:
Change in ARC ..................................................................... $ 72 $(128) $ 781
Change in capital expenditures not paid ................................................. 220 (38) 160
Fair value of net assets recorded upon CENG consolidation (f) .............................. (3,400) — —
Issuance of equity units (g) ............................................................ 131 — —
Nuclear fuel procurement (h) ........................................................... 70 — —
Consolidated VIE dividend to noncontrolling interest ....................................... — 63 7,365
Indemnification of like-kind exchange position (i) .......................................... — — —
(a) Includes the elimination of NDT fund activity for the Regulatory Agreement Units, including the elimination of operating revenues, ARO accretion, ARC amortization,
investment income and income taxes related to all NDT fund activity for these units. See Note 15—Asset Retirement Obligations for additional information regarding
the accounting for nuclear decommissioning.
(b) Includes option premiums reclassified to realized at the settlement of the underlying contracts and recorded to results of operations.
(c) Reflects the change in distribution rates pursuant to EIMA, which allows for the recovery of costs by a utility through a pre-established performance-based formula
rate tariff. See Note 3—Regulatory Matters for more information.
(d) Relates primarily to cash deposits made to ISO’s/RTO’s.
(e) Includes $170 million of changes in capital expenditures not paid between December 31, 2014 and 2013 related to Antelope Valley.
(f) See Note 5—Investment in Constellation Energy Nuclear Group, LLC for additional information.
(g) Relates to the present value of the contract payments for the equity units issued by Exelon. See Note 19—Common Stock for additional information.
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