ComEd 2001 Annual Report Download - page 72

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70
which PECO accounted for as a sale under SFAS No. 140, “Accounting for Transfers and Servicing of Financial Assets and
Extinguishment of Liabilities—a Replacement of FASB Statement No. 125,” and a $55 million interest in special-agreement
accounts receivable which was accounted for as a long-term note payable. See Note 14—Long-Term Debt. PECO retains the
servicing responsibility for these receivables. The agreement requires PECO to maintain the $225 million interest, which, if not
met, requires PECO to deposit cash in order to satisfy such requirements. At December 31, 2001 and 2000, PECO met this
requirement and was not required to make any cash deposits.
(10) Property, Plant and Equipment
A summary of property, plant and equipment by classification as of December 31, 2001 and 2000 is as follows:
Asset Category 2001 2000
Electric-Transmission and Distribution $ 10,156 $ 9,447
Electric-Generation 4,344 4,044
Gas 1,281 1,181
Common 399 408
Nuclear Fuel 2,681 2,341
Construction Work in Progress 1,294 1,189
Leased Property –2
Other Property, Plant and Equipment 1,371 1,274
Total Property, Plant and Equipment 21,526 19,886
Less Accumulated Depreciation (including accumulated
amortization of nuclear fuel of $1,838 and $1,445 in 2001 and 2000, respectively) 7,784 6,950
Property, Plant and Equipment, net $ 13,742 $12,936
(11) Jointly Owned Electric Utility Plant
Exelon’s undivided ownership interests in jointly owned electric plant at December 31, 2001, were as follows:
Production Plant Transmission
Peach Bottom Salem Keystone Conemaugh Quad Cities and Other Plant
PSE&G
Operator Generation Nuclear Reliant Reliant Generation Various Co.
Participating Interest 50% 42.59% 20.99% 20.72% 75% 21 to 44%
Exelon’s Share:
Plant $ 387 $ 12 $ 121 $ 193 $ 96 $ 66
Accumulated Depreciation $220 $ 4 $ 98 $ 124 $ 10 $ 25
Construction Work
in Progress $ 13 $ 53 $ 13 $ 12 $ 52 $ 1
Exelon’s undivided ownership interests are financed with Exelon funds and, when placed in service, all operations are
accounted for as if such participating interests were wholly owned facilities.