Exelon 2015 Annual Report Download - page 319

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
(a) Excludes certain cash equivalents considered to be held-to-maturity and not reported at fair value.
(b) Includes $52 million and $43 million of cash received from outstanding repurchase agreements at December 31, 2015 and 2014, respectively, and is offset by an obligation to
repay upon settlement of the agreement as discussed in (d) below.
(c) Includes derivative instruments of $(8) million and $(10) million, which have a total notional amount of $1,236 million and $794 million at December 31, 2015 and 2014,
respectively. The notional principal amounts for these instruments provide one measure of the transaction volume outstanding as of the fiscal years ended and do not represent
the amount of the company’s exposure to credit or market loss.
(d) Excludes net liabilities of $(3) million and $(5) million at December 31, 2015 and 2014, respectively. These items consist of receivables related to pending securities sales, interest
and dividend receivables, repurchase agreement obligations, and payables related to pending securities purchases. The repurchase agreements are generally short-term in
nature with durations generally of 30 days or less.
(e) Excludes net assets of $1 million and $3 million at December 31, 2015 and 2014, respectively. These items consist of receivables related to pending securities sales, interest and
dividend receivables, and payables related to pending securities purchases.
(f) Excludes $36 million and $35 million of cash surrender value of life insurance investment at December 31, 2015 and 2014, respectively, at Exelon Consolidated. Excludes $13
million and $11 million of cash surrender value of life insurance investment at December 31, 2015 and 2014, respectively, at Generation.
(g) Collateral posted to/(received from) counterparties totaled $476 million, $557 million and $201 million allocated to Level 1, Level 2 and Level 3 mark-to-market derivatives,
respectively, as of December 31, 2015. Collateral posted to/(received from) counterparties totaled $434 million, $800 million and $172 million allocated to Level 1, Level 2 and
Level 3 mark-to-market derivatives, respectively, as of December 31, 2014.
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The following tables present assets and liabilities measured and recorded at fair value on the utility Registrants’ Consolidated Balance
Sheets on a recurring basis and their level within the fair value hierarchy as of December 31, 2015 and 2014:
ComEd PECO BGE
As of December 31, 2015 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
Assets
Cash equivalents $ 29 $ — $ — $ 29 $ 271 $ — $ — $271 $ 25 $ — $ — $ 25
Rabbi trust investments in mutual
funds — — — — 8 — — 8 4 — — 4
Total assets 29 — — 29 279 — — 279 29 — — 29
Liabilities
Deferred compensation obligation — (8) — (8) — (12) — (12) — (4) — (4)
Mark-to-market derivative liabilities — — (247) (247) — — — — — — — —
Total liabilities — (8) (247) (255) — (12) — (12) — (4) — (4)
Total net assets (liabilities) $ 29 $ (8) $ (247) $(226) $ 279 $ (12) $ — $267 $ 29 $ (4) $ — $ 25
312
(a)
(b)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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