ComEd 2015 Annual Report Download - page 300

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
Due to the Preferred Distribution Rights that Generation has on CENG’s available cash, the earnings attributable to the noncontrolling interest
on the Statements of Operations and Comprehensive Income as well as the corresponding adjustment to Noncontrolling interest on the
Consolidated Balance Sheets will not be in proportion to Generation’s and EDF’s equity ownership interests. Rather, the attribution will consider
Generation’s Preferred Distribution Rights and allocate net income based on each owner’s rights to CENG’s net assets. For the years ended
December 31, 2015 and 2014, Generation reduced by $18 million and $13 million, respectively, the amount of Net income attributable to
noncontrolling interests on Exelon’s and Generation’s Consolidated Statements of Operations and Comprehensive Income. As a result of the
consolidation, Exelon’s and Generation’s Consolidated Statements of Operations and Comprehensive Income includes CENG’s incremental
operating revenues of $509 million and $218 million and CENG’s net income (loss), prior to any intercompany eliminations and any adjustments for
noncontrolling interest, of $(11) million and $407 million during the years ended December 31, 2015 and 2014, respectively.
Exelon and Generation incurred integration-related costs of $2 million and $26 million for the year ended December 31, 2015 and 2014,
respectively. The costs incurred are classified primarily within Operating and maintenance expense in Exelon’s and Generation’s respective
Consolidated Statements of Operations and Comprehensive Income.
6. Accounts Receivable (Exelon, Generation, ComEd, PECO and BGE)
Accounts receivable at December 31, 2015 and 2014 included estimated unbilled revenues, representing an estimate for the unbilled amount
of energy or services provided to customers, and is net of an allowance for uncollectible accounts as follows:
2015 Exelon Generation ComEd PECO BGE
Unbilled customer revenues $1,203 $ 732 $ 218 $105 $148
Allowance for uncollectible accounts (284) (77) (75) (83) (49)
2014 Exelon Generation ComEd PECO BGE
Unbilled customer revenues $1,381 $ 823 $ 204 $ 140 $214
Allowance for uncollectible accounts (311) (60) (84) (100) (67)
(a) Represents unbilled portion of retail receivables estimated under Exelon’s unbilled critical accounting policy.
(b) Includes the allowance for uncollectible accounts on customer and other accounts receivable.
(c) Excludes the non-current allowance for uncollectible accounts of $8 million at both December 31, 2015 and 2014, related to PECO’s current installment plan receivables described
below.
(d) At December 31, 2014, as explained in Note 1—Significant Accounting Policies, BGE estimated the allowance for uncollectible accounts on customer receivables by applying loss
rates to the outstanding receivable balance by risk segment. The change in estimate resulted in a $19 million pre-tax charge to BGE’s provision for uncollectible accounts expense
for the year ended December 31, 2014, which is included in Operating and maintenance expense on BGE’s Consolidated Statements of Operations and Comprehensive Income.
PECO Installment Plan Receivables (Exelon and PECO). PECO enters into payment agreements with certain delinquent customers,
primarily residential, seeking to restore their service, as required by the PAPUC. Customers with past due balances that meet certain income
criteria are provided the option to enter into an installment payment plan, some of which have terms greater than one year, to repay past due
balances in addition to paying for their ongoing service on a current basis. The receivable balance for these payment agreement receivables is
recorded in accounts receivable for the current portion and other deferred debits and other assets for the noncurrent portion. The net receivable
balance for installment plans with terms greater than one year was $15 million at both
293
(a)
(b) (c)
(a)
(b) (c) (d)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
The information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. The user assumes all risks for any damages or losses arising from any use of this information,
except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.