ComEd 2015 Annual Report Download - page 404

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
PECO’s commercial commitments as of December 31, 2015, representing commitments potentially triggered by future events, were as
follows:
Expiration within
Total 2016 2017 2018 2019 2020
2021
and beyond
Letters of credit (non-debt) $ 22 $ 22 $— $— $— $— $ —
Surety bonds 9 9 — — — — —
Financing trust guarantees 178 — — — — — 178
Total commercial commitments $209 $ 31 $— $— $— $— $ 178
(a) Letters of credit (non-debt)—PECO maintains non-debt letters of credit to provide credit support for certain transactions as requested by third parties.
(b) Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds.
(c) Performance guarantees—Reflects full and unconditional guarantee of Trust Preferred Securities of PECO Trust III and IV, which are 100% owned finance subsidiaries of PECO.
BGE’s commercial commitments as of December 31, 2015, representing commitments potentially triggered by future events, were as
follows:
Expiration within
Total 2016 2017 2018 2019 2020
2021
and beyond
Letters of credit (non-debt) $ 2 $ 2 $— $— $— $— $ —
Surety bonds 10 10 — — — — —
Financing trust guarantees 250 — — — — — 250
Total commercial commitments $262 $ 12 $— $— $— $— $ 250
(a) Letters of credit (non-debt)—BGE maintains non-debt letters of credit to provide credit support for certain transactions as requested by third parties.
(b) Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds.
(c) Performance guarantee—Reflects full and unconditional guarantee of Trust Preferred Securities of BGE Capital Trust which is an unconsolidated VIE of BGE.
Leases
Minimum future operating lease payments, including lease payments for contracted generation, vehicles, real estate, computers, rail cars,
operating equipment and office equipment, as of December 31, 2015 were:
Exelon Generation ComEd PECO BGE
2016 $ 133 $ 86 $ 14 $ 3 $ 12
2017 109 69 9 3 10
2018 86 57 5 2 9
2019 74 45 5 2 8
2020 70 44 3 2 7
Remaining years 702 655 1 — 19
Total minimum future lease payments $ 1,174 $ 956 $ 37 $ 12 $ 65
(a) Excludes Generation’s contingent operating lease payments associated with contracted generation agreements.
(b) The Generation column above includes minimum future lease payments associated with a 20-year lease agreement for the Baltimore headquarters that became effective during
the second quarter of 2015. Generation’s total commitments under the
397
(a)
(b)
(c)
(a)
(b)
(c)
(a) (a)(b) (c) (c) (c)(d)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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