Exelon 2015 Annual Report Download - page 371

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
condition it was in prior to construction of renewable generating stations and other decommissioning-related activities. ComEd, PECO and BGE
have AROs primarily associated with the abatement and disposal of equipment and buildings contaminated with asbestos and PCBs. See Note 1
—Significant Accounting Policies for additional information on the Registrants’ accounting policy for AROs.
The following table provides a rollforward of the non-nuclear AROs reflected on the Registrants’ Consolidated Balance Sheets from
January 1, 2014 to December 31, 2015:
Exelon Generation ComEd PECO BGE
Non-nuclear AROs at January 1, 2014 $ 351 $ 201 $ 101 $ 30 $ 19
Net increase (decrease) due to changes in, and timing of, estimated future cash
flows (1) (2) 2 — (1)
Development projects 11 11 — — —
Accretion expense 15 11 3 1 —
Liabilities held for sale (4) (4) — — —
Sale of generating assets (20) (20) — — —
Payments (6) (3) (2) (1) —
Non-nuclear AROs at December 31, 2014 346 194 104 30 18
Net increase (decrease) due to changes in, and timing of, estimated future cash
flows (10) (12) 6 (4) —
Development projects 10 10 — — —
Accretion expense 16 10 5 1 —
Sale of generating assets (2) (2) — — —
Payments (5) (3) (2) — —
Non-nuclear AROs at December 31, 2015 $ 355 $ 197 $ 113 $ 27 $ 18
(a) During the year ended December 31, 2015, Generation recorded a decrease of $(2) million in Operating and maintenance expense. ComEd, PECO, and BGE did not record any
adjustments in Operating and maintenance expense for the year ended December 31, 2015. During the year ended December 31, 2014, Generation recorded a decrease of $(2)
million and ComEd recorded an increase of $1 million in Operating and maintenance expense. PECO and BGE did not record any adjustments in Operating and maintenance
expense for the year ended December 31, 2014.
(b) Relates to new AROs recorded due to the construction of solar, wind and other non-nuclear generating sites.
(c) For ComEd, PECO, and BGE, the majority of the accretion is recorded as an increase to a regulatory asset due to the associated regulatory treatment.
(d) Represents AROs related to generating stations classified as held for sale. See Note 4—Mergers, Acquisitions, and Dispositions for further information.
(e) Reflects a reduction to the ARO resulting primarily from the sales of Schuylkill generating station in 2015 and Keystone and Conemaugh generating stations in 2014. See Note 4
—Mergers, Acquisitions, and Dispositions for further information.
(f) Excludes $5 million, $2 million, $0 million and $1 million as the current portion of the ARO at December 31, 2015 for Generation, ComEd, PECO and BGE, respectively. Excludes
$1 million, $1 million, $1 million and $1 million as the current portion of the ARO at December 31, 2014 for Generation, ComEd, PECO and BGE, respectively. This is included in
Other current liabilities on the Registrants’ respective Consolidated Balance Sheets.
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(a)
(b)
(c)
(d)
(e)
(f)
(a)
(b)
(c)
(e)
(f)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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