ComEd 2013 Annual Report Download - page 173

As of December 31, 2012 Level 1 Level 2 Level 3 Total
Commoditymark-to-market derivativeassets
Economic hedges .............................................................. 8613,1736414,675
Proprietarytrading ............................................................. 1,0422,078 733,193
Effectofnettingandallocation ofcollateral (f) ........................................ (1,823) (4,175) (58) (6,056)
Commoditymark-to-market assetssubtotal (g) ....................................... 801,076 656 1,812
Interest rate mark-to-market derivativeassets ....................................... — 114— 114
Effectofnettingandallocation ofcollateral ......................................... — (51)— (51)
Interest rate mark-to-market derivativeassetssubtotal ................................ — 63—63
Other Investments ............................................................. 2—1719
Total assets .................................................................. 4,0625,778 945 10,785
Liabilities
Commoditymark-to-market derivativeliabilities
Economic hedges .............................................................. (1,041)(2,289) (236) (3,566)
Proprietarytrading ............................................................. (1,084) (1,959) (78) (3,121)
Effectofnettingandallocation ofcollateral (f) ........................................ 2,0424,020 256,087
Commoditymark-to-market liabilities(g)(h) ........................................... (83)(228) (289) (600)
Interest rate mark-to-market liabilities.............................................. — (84) — (84)
Effectofnettingandallocation ofcollateral ......................................... — 51—51
Interest rate mark-to-market derivativeliabilitiessubtotal .............................. — (33)— (33)
Deferredcompensation obligation ................................................. — (102)— (102)
Total liabilities ................................................................ (83)(363)(289) (735)
Total net assets ............................................................... $3,979 $ 5,415 $ 656 $10,050
(a) Excludescertaincash equivalentsconsideredto beheld-to-maturityandnot reportedat fairvalue.
(b) Excludesnet assets(liabilities) of $(5) million and$30 million at December 31,2013 andDecember 31,2012,respectively. Theseitems consistofreceivablesrelated
to pendingsecuritiessales, interestand dividendreceivables, andpayablesrelatedto pendingsecuritiespurchases.
(c) Excludesnet assetsof$7million at bothDecember 31,2013 andDecember 31,2012,respectively. Theseitems consistofreceivablesrelatedto pendingsecurities
sales, interestand dividendreceivables, andpayablesrelatedto pendingsecuritiespurchases.
(d) Themutual funds heldbytheRabbi trustsinclude$53million relatedto deferredcompensation and$1million relatedto Supplemental Executive Retirement Plan at
December 31,2013,and$53million relatedto deferredcompensation and$16million relatedto Supplemental Executive Retirement Plan at December 31,2012.
(e) Excludes$32 million and$28million ofthecash surrender value oflifeinsuranceinvestmentsat December 31,2013 andDecember 31,2012,respectively.
(f) Includescollateral postings (received) fromcounterparties. Collateral (received) fromcounterparties, net ofcollateral paid to counterparties, totaled$6million,$(124)
million and$(26) million allocatedto Level 1,Level 2 andLevel 3 mark-to-market derivatives, respectively, asofDecember 31,2013.Collateral (received) from
counterparties, net ofcollateral paid to counterparties, totaled$219million,$(155) million and$(33)million allocatedto Level 1,Level 2 andLevel 3 mark-to-market
derivatives, respectively, asofDecember 31,2012.
(g) TheLevel 3 balancedoesnot includecurrent assetsfor Generation andcurrent liabilitiesfor ComEd of$226million at December 31,2012 relatedto thefairvalue of
Generation’s financial swap contractwithComEd.
(h) TheLevel 3 balanceincludesthecurrent andnoncurrent liabilityof$17million and$176 million at December 31,2013,respectively, and$18million and $49 million
at December 31,2012,respectively, relatedto floating-to-fixedenergy swap contractswithunaffiliatedsuppliers.
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