ComEd 2006 Annual Report Download - page 228

Exelon Corporation and Subsidiary Companies
Exelon Generation Company, LLC and Subsidiary Companies
Commonwealth Edison Company and Subsidiary Companies
PECO Energy Company and Subsidiary Companies
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
December 31, 2005 Exelon Generation ComEd PECO
Asset Category
Electric—transmission and distribution ................... $15,463 $ — $10,882 $4,581
Electric—generation .................................. 8,083 8,083 — —
Gas—transmission and distribution ..................... 1,483 — — 1,483
Common ........................................... 476 — — 476
Nuclear fuel ......................................... 3,148 3,148 — —
Construction work in progress .......................... 840 494 253 88
Other property, plant and equipment (a) .................. 360 54 24 15
Total property, plant and equipment ................. 29,853 11,779 11,159 6,643
Less accumulated depreciation (b) ................... 7,872 4,315 1,253 2,172
Property, plant and equipment, net ...................... $21,981 $ 7,464 $ 9,906 $4,471
(a) For Exelon, also includes corporate operations, shared service entities, including BSC, Enterprises and investments in
synthetic fuel-producing facilities. For Generation, includes buildings under capital lease with a net carrying value of $40
million at December 31, 2005. The original cost basis of the buildings was $53 million and total accumulated amortization
was $13 million at December 31, 2005. For ComEd and PECO, represents non-utility property.
(b) For Generation, includes accumulated amortization of nuclear fuel of $2,103 million at December 31, 2005.
As of December 31, 2006 and 2005, Exelon had recorded the following accumulated depreciation
for regulated and unregulated property, plant and equipment:
December 31, 2006 December 31, 2005
Regulated Unregulated Regulated Unregulated
Accumulated depreciation ........................ $3,673 $3,577(a) $3,425 $4,447(a)
(a) Includes accumulated amortization of nuclear fuel in the reactor core of $1,078 million and $2,103 million as of December
31, 2006 and 2005, respectively.
License Renewals. Generation’s depreciation provisions are based on the estimated useful lives of
the stations, which assumes the renewal of the licenses for all nuclear generating stations. As a result,
the receipt of license renewals has no impact on the Consolidated Statements of Operations. See
Note 4—Regulatory Issues for further information on license renewals.
Depreciation Rate Study. In August 2005, PECO filed a depreciation rate study with the PAPUC
for both its electric and gas assets, which resulted in the implementation of new depreciation rates
effective March 2006. The impact of the new rates was not material.
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