ComEd 2015 Annual Report Download - page 435

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
(f) Generation requires electricity for its own use at its generating stations. Generation purchases electricity and distribution and transmission services from PECO and only distribution
and transmission services from ComEd for the delivery of electricity to its generating stations.
(g) Generation receives a variety of corporate support services from BSC, including legal, human resources, financial, information technology and supply management services. All
services are provided at cost, including applicable overhead. A portion of such services is capitalized.
(h) Prior to April 1, 2014, Generation’s total gain (loss) in equity method investments includes equity income (loss) and amortization of the basis difference established as a result of
purchase accounting applied upon Constellation merger in 2012. CENG was fully consolidated on April 1, 2014. For further information regarding the Investment in CENG, see
Note 5—Investment in Constellation Energy Nuclear Group, LLC.
(i) During 2014, Generation closed the sale of Safe Harbor Water Power Corporation, Keystone Fuels, LLC, and Conemaugh Fuels LLC. Generation recorded purchase power and
fuel costs from affiliates related to these generating assets during the time these assets were still partially owned by Generation. See Note 4—Mergers, Acquisitions, and
Dispositions for more information.
(j) The balance consists of interest owed to Exelon Corporation related to the senior unsecured notes, as well as, expense related to certain invoices Exelon Corporation processed
on behalf of Generation.
(k) Generation has long-term payables to ComEd and PECO as a result of the nuclear decommissioning contractual construct whereby, to the extent NDT funds are greater than the
underlying ARO at the end of decommissioning, such amounts are due back to ComEd and PECO, as applicable, for payment to their respective customers. See Note 16—Asset
Retirement Obligations.
(l) In connection with the debt obligations assumed by Exelon as part of the Constellation merger, Exelon and subsidiaries of Generation (former Constellation subsidiaries) assumed
intercompany loan agreements that mirror the terms and amounts of the third-party debt obligations of Exelon, resulting in intercompany notes payable included in Long-term Debt
to affiliate on Generation’s Consolidated Balance Sheets and intercompany notes receivable at Exelon Corporate, which are eliminated in consolidation on Exelon’s Consolidated
Balance Sheets.
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The financial statements of ComEd include related party transactions as presented in the tables below:
For the Years Ended
December 31,
2015 2014 2013
Operating revenues from affiliates
Generation $ 4 $ 4 $ 3
Purchased power from affiliate
Generation $ 18 $176 $512
Operating and maintenance from affiliate
BSC $195 $166 $157
Interest expense to affiliates, net:
ComEd Financing III $ 13 $ 13 $ 13
Capitalized costs
BSC $103 $ 77 $ 69
Cash dividends paid to parent $299 $307 $220
Contribution from parent $202 $273 $—
428
(a)
(b)
(b)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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