Exelon 2014 Annual Report Download - page 179

Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
During the year ended December 31, 2012, Exelon, Generation, ComEd, PECO and BGE incurred merger and integration-related
costs of $804 million, $340 million, $41 million, $17 million and $182 million, respectively. Of these amounts, Exelon, ComEd and
BGE deferred $58 million, $36 million and $22 million, respectively, as a regulatory asset as of December 31, 2012.
The costs incurred are classified primarily within Operating and maintenance expense in the Registrants’ respective Consolidated
Statements of Operations and Comprehensive Income, with the exception of the BGE customer rate credit and the credit facility
fees, which are included as a reduction to Operating revenues and Other, net, respectively, for years ended December 31, 2014,
2013, and 2012. See Note 22—Commitments and Contingencies for additional information.
Pro-forma Impact of the Constellation Merger
The following unaudited pro forma financial information reflects the consolidated results of operations of Exelon as if the merger with
Constellation had taken place on January 1, 2011. The unaudited pro forma information was calculated after applying Exelon’s
accounting policies and adjusting Constellation’s results to reflect purchase accounting adjustments.
The unaudited pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of
results of operations that would have been achieved had the merger events taken place on the dates indicated, or the future
consolidated results of operations of the combined company.
Exelon
Year Ended December 31,
(unaudited) 2012 2011 (a)
Total revenues ........................................................................... 26,700 30,712
Net income attributable to Exelon ............................................................ 2,092 974
Basic earnings per share ................................................................... 2.56 1.15
Diluted earnings per share .................................................................. 2.55 1.14
(a) The amounts above include non-recurring costs directly related to the merger of $236 million for the year ended December 31, 2011.
(b) The amounts above include non-recurring costs directly related to the merger of $203 million for the year ended December 31, 2011.
Asset Divestitures
Including the Quail Run generating facility that was sold on January 21, 2015, Generation has sold certain generating assets with a
total net book value of approximately $1.8 billion prior to consideration of asset impairments (See Note 8—Impairment of Long-Lived
Assets for further information), for total pre-tax proceeds of approximately $1.8 billion (after-tax proceeds of approximately $1.4
billion), which resulted in cumulative pre-tax gains on sale of approximately $412 million, which are included in Gain (loss) on sales
of assets on Exelon’s Consolidated Statement of Operations and Comprehensive Income. The proceeds are expected to be used
primarily to finance a portion of the acquisition of PHI.
Station
Net Generation
Capacity Location Operating Segment Percent Owned
Fore River ....................... 726MW North Weymouth, MA New England 100%
West Valley ...................... 185MW Salt Lake City, UT Other 100%
Keystone ........................ 714MW Shelocta, PA Mid-Atlantic 41.98%
Conemaugh ...................... 532MW NewFlorence, PA Mid-Atlantic 31.28%
Safe Harbor ...................... 278MW Conestoga, PA Mid-Atlantic 66.7%
Quail Run ........................ 488MW Odessa, TX ERCOT 100%
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