ComEd 2003 Annual Report Download - page 133
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131Notes to Consolidated Financial Statements
EXELON CORPORATION AND SUBSIDIARY COMPANIES
NOTE 22 • RELATED PARTY TRANSACTIONS
Exelon’s financial statements reflect related-party trans-
actions with unconsolidated affiliates as reflected in the ta-
bles below. Exelon accounted for its investment in AmerGen
as an equity investment prior to the acquisition of British
Energy’s 50% interest in December 2003.
For the Years Ended December 31,
2003 2002 2001
Purchased power from AmerGen(1) $382 $273 $ 57
Interest income from AmerGen(2) 12–
Interest income from Sithe(3) ––2
Interest expense to Sithe(4) 92–
Interest expense to PECO Energy
Capital Trust IV(5) 3––
Services provided to AmerGen(6) 111 70 80
Services provided to Sithe(7) –1–
Services provided by Sithe(8) –13 –
Effective July 1, 2003, PECO Trust IV, a financing sub-
sidiary created in May 2003, was deconsolidated from the
financial statements in conjunction with the adoption of FIN
No. 46. Additionally, effective December 31, 2003, ComEd
Financing II, ComEd Financing III, ComEd Funding, LLC,
ComEd Transitional Funding Trust, PECO Trust III and the
PETT were deconsolidated from the financial statements of
Exelon in conjunction with the adoption of FIN No. 46-R. As
a result, over $6 billion of debt was recorded as debt to fi-
nancing trusts within the Consolidated Balance Sheets as of
December 31, 2003. Prior periods were not restated.
December 31,
2003 2002
Receivables from affiliates (current)
ComEd Transitional Funding Trust $9$–
Investment in subsidiaries
ComEd Funding LLC 45 –
ComEd Financing II 8–
ComEd Financing III 6–
PECO Energy Capital Corp 16 –
PECO Energy Capital Trust IV 3–
Receivable from affiliates (noncurrent)
ComEd Transitional Funding Trust 9–
PECO Energy Transition Trust 105 –
Payables to affiliates (current)
ComEd Financing II 6–
ComEd Financing III 4–
PECO Energy Capital Corp 1–
PECO Energy Capital Trust III 10 –
Long-term debt to financing trusts (including due within one year)
ComEd Transitional Funding Trust 1,676 –
ComEd Financing II 155 –
ComEd Financing III 206 –
PECO Energy Transition Trust 3,849 –
PECO Energy Capital Trust IV 103 –
PECO Energy Capital Trust III 81 –