ComEd 2015 Annual Report Download - page 391

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
performance share transition awards in 2013, which vested one-third after one year, with the remaining balance vesting over a two-year
performance period. These one-time 2013 performance share transition awards will be settled 50% in common stock and 50% in cash, except for
awards granted to executive vice presidents and higher officers that may be settled 100% in cash if certain Exelon stock ownership requirements
are satisfied. In addition to this change, in 2013 ComEd and in 2014 PECO and BGE transitioned from Exelon stock-based awards to cash award
programs with payouts based on the performance of each respective utility. The following tables do not include expense related to these plans as
they are not considered stock-based compensation plans under the applicable accounting guidance.
The following table presents the stock-based compensation expense included in Exelon’s Consolidated Statements of Operations and
Comprehensive Income for the years ended December 31, 2015, 2014 and 2013:
Year Ended
December 31,
Components of Stock-Based Compensation Expense 2015 2014 2013
Performance share awards $ 41 $ 59 $ 48
Restricted stock units 71 61 61
Stock options 1 2 3
Other stock-based awards 6 5 6
Total stock-based compensation expense included in operating and maintenance expense 119 127 118
Income tax benefit (46) (47) (44)
Total after-tax stock-based compensation expense $ 73 $ 80 $ 74
The following table presents stock-based compensation expense (pre-tax) for the years ended December 31, 2015, 2014 and 2013:
Year Ended
December 31,
Subsidiaries 2015 2014 2013
Generation $ 64 $ 52 $ 48
ComEd 6 7 9
PECO 3 3 5
BGE 3 5 6
BSC 43 60 50
Total $119 $127 $118
(a) These amounts primarily represent amounts billed to Exelon’s subsidiaries through intercompany allocations. These amounts are not included in the Generation, ComEd, PECO
and BGE amounts above.
There were no significant stock-based compensation costs capitalized during the years ended December 31, 2015, 2014 and 2013.
384
(a)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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