ComEd 2015 Annual Report Download - page 314

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
12. Fair Value of Financial Assets and Liabilities (Exelon, Generation, ComEd, PECO and BGE)
Fair Value of Financial Liabilities Recorded at the Carrying Amount
The following tables present the carrying amounts and fair values of the Registrants’ short-term liabilities, long-term debt, SNF obligation,
and trust preferred securities (long-term debt to financing trusts or junior subordinated debentures) as of December 31, 2015 and 2014:

December 31, 2015 December 31, 2014
Carrying
Amount
Fair Value Carrying
Amount
Fair
Value Level 1 Level 2 Level 3 Total
Short-term liabilities $ 536 $ 3 $ 533 $ — $ 536 $ 463 $ 463
Long-term debt (including amounts due
within one year) 25,145 931 23,644 1,349 25,924 21,014 22,936
Long-term debt to financing trusts 641 — — 673 673 641 648
SNF obligation 1,021 — 818 — 818 1,021 833

December 31, 2015 December 31, 2014
Carrying
Amount
Fair Value Carrying
Amount
Fair
Value Level 1 Level 2 Level 3 Total
Short-term liabilities $ 29 $ — $ 29 $ — $ 29 $ 36 $ 36
Long-term debt (including amounts due within one year) 8,959 — 7,767 1,349 9,116 8,196 8,822
SNF obligation 1,021 — 818 — 818 1,021 833

December 31, 2015 December 31, 2014
Carrying
Amount
Fair Value Carrying
Amount
Fair
Value Level 1 Level 2 Level 3 Total
Short-term liabilities $ 294 $ — $ 294 $ — $ 294 $ 304 $ 304
Long-term debt (including amounts due within one year) 6,509 — 7,069 — 7,069 5,925 6,788
Long-term debt to financing trusts 205 — — 213 213 205 213

December 31, 2015 December 31, 2014
Carrying
Amount
Fair Value Carrying
Amount
Fair
Value Level 1 Level 2 Level 3 Total
Long-term debt (including amounts due within one year) $ 2,580 $ — $2,786 $ — $2,786 $ 2,232 $2,537
Long-term debt to financing trusts 184 — — 195 195 184 199
307
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(b)
(a)
(a)
(b)
(a)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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