ComEd 2015 Annual Report Download - page 339

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
than U.S. Dollars. Exelon entered into floating-to-fixed forward starting interest rate swaps to manage interest rate risks associated with anticipated
future debt issuance related to the proposed PHI merger. For the years ended December 31, 2015, 2014 and 2013, the following net pre-tax mark-
to-market gains (losses) of certain purchase and sale contracts were reported in Operating revenues or Purchased power and fuel expense, or
Interest expense at Exelon and Generation in the Consolidated Statements of Operations and Comprehensive Income and are included in “Net fair
value changes related to derivatives” in Exelon’s and Generation’s Consolidated Statements of Cash Flows. In the tables below, “Change in fair
value” represents the change in fair value of the derivative contracts held at the reporting date. The “Reclassification to realized at settlement”
represents the recognized change in fair value that was reclassified to realized due to settlement of the derivative during the period.
Generation
Intercompany
Eliminations
Exelon
Corporate Exelon
Year Ended December 31, 2015
Operating
Revenues
Purchased
Power
and Fuel
Interest
Expense Total
Operating
Revenues
Interest
Expense Total
Change in fair value of commodity positions $ 759 $ (355) $ — $ 404 $ — $ — $ 404
Reclassification to realized at settlement of commodity positions (563) 409 — (154) — — (154)
Net commodity mark-to-market gains (losses) 196 54 — 250 — — 250
Change in fair value of treasury positions 13 — — 13 — 36 49
Reclassification to realized at settlement of treasury positions (6) — — (6) — 64 58
Net treasury mark-to market gains (losses) 7 — — 7 — 100 107
Net mark-to market gains (losses) $ 203 $ 54 $ — $ 257 $ — $ 100 $ 357
Generation
Intercompany
Eliminations
Exelon
Corporate Exelon
Year Ended December 31, 2014
Operating
Revenues
Purchased
Power
and Fuel
Interest
Expense Total
Operating
Revenues
Interest
Expense Total
Change in fair value of commodity positions $ (413) $ (194) $ — $(607) $ — $ — $ (607)
Reclassification to realized at settlement of commodity positions 231 (223) — 8 — — 8
Net commodity mark-to-market gains (losses) (182) (417) — (599) — — (599)
Change in fair value of treasury positions 10 — (2) 8 — (100) (92)
Reclassification to realized at settlement of treasury positions (2) — — (2) — — (2)
Net treasury mark-to market gains (losses) 8 — (2) 6 — (100) (94)
Net mark-to market gains (losses) $ (174) $ (417) $ (2) $(593) $ — $ (100) $ (693)
332
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Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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