ComEd 2015 Annual Report Download - page 309

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
(b) PECO and BGE own a 22% and 7% share, respectively, in 127 miles of 500kV lines located in Pennsylvania; PECO and BGE also own a 20.7% and 10.56% share, respectively,
of a 500kV substation immediately outside of the Conemaugh fossil generating station which supplies power to the 500kV lines including, but not limited to, the lines noted above.
(c) PECO owns a 42.55% share in 131 miles of 500kV lines located in Delaware and New Jersey as well as a 42.55% share in a 500kV substation immediately outside of the Salem
nuclear generating station in New Jersey which supplies power to the 500kV lines including, but not limited to, the lines noted above.
(d) Generation has a 44.24% ownership interest in assets located at Merrill Creek Reservoir located in New Jersey.
(e) Excludes asset retirement costs.
(f) On April 1, 2014, Generation assumed operational control of CENG’s nuclear fleet, and as of that date, CENG’s operations are consolidated into Generation’s financial
statements. As of December 31, 2013, Generation’s ownership interest in CENG, including Nine Mile Point, was treated as an equity method investment, and thus did not
represent an undivided Interest. See Note 5—Investment in Constellation Energy Nuclear Group, LLC for additional information.
Exelon’s, Generation’s, PECO’s and BGE’s undivided ownership interests are financed with their funds and all operations are accounted for
as if such participating interests were wholly-owned facilities. Exelon’s, Generation’s, PECO’s and BGE’s share of direct expenses of the jointly
owned plants are included in Purchased power and fuel and Operating and maintenance expenses on Exelon’s and Generation’s Consolidated
Statements of Operations and Comprehensive Income and in Operating and maintenance expenses on PECO’s and BGE’s Consolidated
Statements of Operations and Comprehensive Income.
11. Intangible Assets (Exelon, Generation, ComEd and PECO)
Goodwill
Exelon’s, Generation’s and ComEd’s gross amount of goodwill, accumulated impairment losses and carrying amount of goodwill for the
years ended December 31, 2015 and 2014 were as follows:
ComEd Generation Exelon
Gross
Amount
Accumulated
Impairment
Losses
Carrying
Amount
Gross
Amount
Carrying
Amount
Gross
Amount
Accumulated
Impairment
Losses
Carrying
Amount
Balance, January 1, 2014 $ 4,608 $ 1,983 $ 2,625 $ — $ — $4,608 $ 1,983 $ 2,625
Goodwill from business combination — — — 47 47 47 — 47
Balance, December 31, 2014 4,608 1,983 2,625 47 47 4,655 1,983 2,672
Impairment losses — — — — — — — —
Balance, December 31, 2015 $ 4,608 $ 1,983 $ 2,625 $ 47 $ 47 $4,655 $ 1,983 $ 2,672
(a) Reflects goodwill recorded in 2000 from the PECO/Unicom (predecessor parent company of ComEd) merger net of amortization, resolution of tax matters and other non-
impairment-related changes as allowed under previous authoritative guidance.
Goodwill is not amortized, but is subject to an assessment for impairment at least annually, or more frequently if events occur or
circumstances change that would more likely than not reduce the fair value of the ComEd reporting unit below its carrying amount. Under the
authoritative guidance for goodwill, a reporting unit is an operating segment or one level below an operating segment (known as a component) and
is the level at which goodwill is tested for impairment. A component of an operating segment is a reporting unit if the component constitutes a
business for which discrete financial
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(a)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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