ComEd 2015 Annual Report Download - page 146

Table of Contents
(a) Reflects a reduction of $67 million in incremental storm costs, primarily as a result of the February 5, 2014 ice storm.
(b) Reflects an increase of $85 million in incremental storm costs, including the February 5, 2014 ice storm and the significant July 2014 storms.
Depreciation and Amortization Expense
The changes in Depreciation and amortization expense for 2015 compared to 2014 and 2014 compared to 2013, consisted of the following:
Increase
(Decrease)
2015 vs. 2014
Increase
(Decrease)
2014 vs. 2013
Depreciation expense $ 13 $ 8
Regulatory asset amortization 11 —
Increase in depreciation and amortization expense $ 24 $ 8
Taxes Other Than Income
Taxes other than income, which can vary year to year, include municipal and state utility taxes, real estate taxes, and payroll taxes. Taxes
other than income remained relatively consistent for the year ended December 31, 2015, compared to the same period in 2014, and the year ended
December 31, 2014, compared to the same period in 2013.
Interest Expense, Net
Interest expense, net remained relatively consistent for the year ended December 31, 2015, compared to the same period in 2014, and the
year ended December 31, 2014, compared to the same period in 2013.
Other, Net
Other, net remained relatively consistent for the year ended December 31, 2015, compared to the same period in 2014, and the year ended
December 31, 2014, compared to the same period in 2013.
Effective Income Tax Rate
PECO’s effective income tax rates for the years ended December 31, 2015, 2014 and 2013 were 27.4%, 24.5% and 29.1%, respectively.
See Note 14—Income Taxes of the Combined Notes to Consolidated Financial Statements for further discussion of the change in effective income
tax rates.
PECO Electric Operating Statistics and Revenue Detail
Retail Deliveries to Customers (in GWhs) 2015 2014
%
Change
2015 vs.
2014
Weather-
Normal
%
Change 2013
%
Change
2014 vs.
2013
Weather-
Normal
%
Change
Retail Deliveries
Residential 13,630 13,222 3.1% 0.3% 13,341 (0.9)% 0.5%
Small commercial & industrial 8,118 8,025 1.2% 0.6% 8,101 (0.9)% — %
Large commercial & industrial 15,365 15,310 0.4% (0.5)% 15,379 (0.4)% (0.1)%
Public authorities & electric railroads 881 937 (6.0)% (6.0)% 930 0.8% 0.8%
Total electric retail deliveries 37,994 37,494 1.3% (0.1)% 37,751 (0.7)% 0.1%
139
(a)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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