ComEd 2015 Annual Report Download - page 429

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
(a) Generation includes the six power marketing reportable segments shown below: Mid-Atlantic, Midwest, New England, New York, ERCOT and Other Power Regions. For the year
ended December 31, 2015, intersegment revenues for Generation include revenue from sales to PECO of $224 million and sales to BGE of $502 million in the Mid-Atlantic region,
and sales to ComEd of $18 million in the Midwest region, which eliminate upon consolidation. For the year ended December 31, 2014, intersegment revenues for Generation
include revenue from sales to PECO of $198 million and sales to BGE of $387 million in the Mid-Atlantic region, and sales to ComEd of $176 million in the Midwest region, which
eliminate upon consolidation. For the year ended December 31, 2013, intersegment revenues for Generation include revenue from sales to PECO of $405 million and sales to
BGE of $455 million in the Mid-Atlantic region, and sales to ComEd of $506 million in the Midwest region, net of $7 million related to the unrealized mark-to-market losses related to
the ComEd swap, which eliminate upon consolidation.
(b) Other primarily includes Exelon’s corporate operations, shared service entities and other financing and investment activities.
(c) For the years ended December 31, 2015, 2014 and 2013, utility taxes of $105 million, $89 million and $79 million, respectively, are included in revenues and expenses for
Generation. For the years ended December 31, 2015, 2014 and 2013, utility taxes of $236 million, $238 million and $241 million, respectively, are included in revenues and
expenses for ComEd. For the years ended December 31, 2015, 2014 and 2013, utility taxes of $133 million, $128 million and $129 million, respectively, are included in revenues
and expenses for PECO. For the years ended December 31, 2015, 2014 and 2013, utility taxes of $85 million, $86 million and $82 million are included in revenues and expenses
for BGE, respectively.
(d) Intersegment revenues exclude sales to unconsolidated affiliates. The intersegment profit associated with Generation’s sale of certain products and services by and between
Exelon’s segments is not eliminated in consolidation due to the recognition of intersegment profit in accordance with regulatory accounting guidance. For Exelon, these amounts
are included in operating revenues in the Consolidated Statements of Operations and Comprehensive Income.
Generation total revenues:
2015 2014 2013
Revenues
from
external
customers
Intersegment
revenues
Total
revenues
Revenues
from
external
customers
Intersegment
revenues
Total
revenues
Revenues
from
external
customers
Intersegment
revenues
Total
revenues
Mid-Atlantic $ 5,974 $ (74) $ 5,900 $ 5,414 $ (155) $ 5,259 $ 5,261 $ (57) $ 5,204
Midwest 4,712 (2) 4,710 4,488 (13) 4,475 4,298 (28) 4,270
New England 2,217 (5) 2,212 1,468 (46) 1,422 1,279 (42) 1,237
New York 996 (11) 985 846 (3) 843 717 (3) 714
ERCOT 863 (6) 857 938 (3) 935 1,223 (7) 1,216
Other Power Regions 1,182 (80) 1,102 1,379 (70) 1,309 1,084 (116) 968
Total Revenues
for Reportable Segments $ 15,944 $ (178) $15,766 $ 14,533 $ (290) $14,243 $ 13,862 $ (253) $13,609
Other 3,191 178 3,369 2,860 290 3,150 1,768 253 2,021
Total Generation
Consolidated Operating
Revenues $ 19,135 $ — $19,135 $ 17,393 $ — $17,393 $ 15,630 $ — $15,630
(a) On April 1, 2014, Generation assumed operational control of CENG’s nuclear fleet. As a result, beginning on April 1, 2014, CENG’s revenues are included on a fully consolidated
basis.
(b) Includes all wholesale and retail electric sales to third parties and affiliated sales to ComEd, PECO and BGE.
(c) Other represents activities not allocated to a region. See text above for a description of included activities. Also includes a $7 million increase to revenues, a $289 million decrease
to revenues, and a $767 million decrease to revenues for the amortization of intangible assets related to commodity contracts recorded at fair value for the years ended
December 31, 2015, 2014, and 2013, respectively, unrealized mark-to-market gains of $203 million, losses of $174 million, and gains of $220 million for the years ended
December 31, 2015, 2014, and 2013, respectively, and elimination of intersegment revenues.
(d) Exelon corrected an error in the December 31, 2014 and December 31, 2013 balances within Intersegment revenues and Revenues from external customers for an overstatement
of Intersegment revenues for Reportable Segments of $284 million and
422
(b)
(b)
(d) (d)
(b)
(d) (d)
(a)
(c)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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