ComEd 2006 Annual Report Download - page 270

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)
materially impact Exelon’s and Generation’s results of operations. Exelon and Generation are currently
assessing the impact the Act may have on their plan design, if any.
The following tables provide a rollforward of the changes in the benefit obligations and plan assets
for the most recent two years for all plans combined:
Pension Benefits
Other Postretirement
Benefits
2006 2005 2006 2005
Change in benefit obligation:
Net benefit obligation at beginning of year ................ $10,247 $ 9,775 $3,297 $2,988
Service cost ......................................... 157 144 99 89
Interest cost ........................................ 562 546 183 175
Plan participants’ contributions ......................... — — 22 22
Plan amendments .................................... — 5 — (17)
Actuarial loss (gain) .................................. 7 351 (95) 239
Curtailments/settlements .............................. 3 — — —
Special accounting costs .............................. 3 — — —
Gross benefits paid ................................... (583) (574) (184) (199)
Federal subsidy on benefits paid ........................ — — 8 —
Net benefit obligation at end of year ..................... $10,396 $10,247 $3,330 $3,297
Change in plan assets:
Fair value of plan assets at beginning of year ............. $ 9,060 $ 7,014 $1,341 $1,246
Actual return on plan assets ........................... 1,145 612 168 58
Employer contributions ................................ 23 2,008 165 214
Plan participants’ contributions ......................... — — 22 22
Gross benefits paid ................................... (583) (574) (184) (199)
Fair value of plan assets at end of year .................. $ 9,645 $ 9,060 $1,512 $1,341
The following table provides a reconciliation of benefit obligations, plan assets and funded status
of the plans as of December 31, 2005 for all plans combined. (In accordance with SFAS No. 158,
Exelon and Generation recognized the underfunded status of its defined benefit postretirement plans
as a liability on their balance sheets as of December 31, 2006.)
Pension Benefits
Other Postretirement
Benefits
Fair value of plan assets at December 31, 2005 ............... $ 9,060 $ 1,341
Net benefit obligations at December 31, 2005 ................. 10,247 3,297
Funded status (plan assets less plan obligations) .............. (1,187) (1,956)
Amounts not recognized
Net actuarial loss .................................... 3,339 1,245
Prior service cost (credit) .............................. 159 (370)
Net transition obligation ............................... — 67
Net amount recognized ................................... $ 2,311 $(1,014)
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