Exelon 2014 Annual Report Download - page 282

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 Regions. 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. For the year ended December 31, 2012, intersegment revenues for Generation include revenue from sales to PECO of $543 million and sales to BGE
of $322 million in the Mid-Atlantic region, and sales to ComEd of $795 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) Amounts represent activity recorded at BGE from March 12, 2012, the closing date of the merger, through December 31, 2014.
(c) Other primarily includes Exelon’s corporate operations, shared service entities and other financing and investment activities.
(d) For the years ended December 31, 2014, 2013 and 2012, utility taxes of $89 million, $79 million and $82 million, respectively, are included in revenues and expenses
for Generation. For the years ended December 31, 2014, 2013 and 2012, utility taxes of $238 million, $241 million and $239 million, respectively, are included in
revenues and expenses for ComEd. For the years ended December 31, 2014, 2013 and 2012, utility taxes of $128 million, $129 million and $141 million, respectively,
are included in revenues and expenses for PECO. For the years ended December 31, 2014, December 31, 2013 and for the period of March 12, 2012 through
December 31, 2012, utility taxes of $86 million, $82 million and $59 million are included in revenues and expenses for BGE, respectively.
(e) 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:
As of April 1, 2014, Generation total revenues and Generation total revenues net of purchased power and fuel expense includes
100% of the activity from CENG.
2014 2013 2012
Revenues
from
external
customers (a)
Intersegment
revenues
Total
Revenues
Revenues
from
external
customers (a)
Intersegment
revenues
Total
Revenues
Revenues
from
external
customers (a)
Intersegment
revenues
Total
Revenues
Mid-Atlantic ....... $ 5,265 $ (6) $ 5,259 $ 5,182 $ 22 $ 5,204 $ 5,082 $(44) $ 5,038
Midwest .......... 4,467 8 4,475 4,280 (10) 4,270 4,824 24 4,848
New England ...... 1,417 5 1,422 1,245 (8) 1,237 1,048 45 1,093
New York ......... 843 — 843 735 (21) 714 582 (25) 557
ERCOT .......... 938 (3) 935 1,222 (6) 1,216 1,365 2 1,367
Other Regions (b) . . . 1,319 (10) 1,309 946 22 968 755 78 833
Total Revenues for
Reportable
Segments ...... $14,249 $ (6) $14,243 $13,610 $ (1) $13,609 $13,656 $ 80 $13,736
Other (c) .......... 3,144 6 3,150 2,020 1 2,021 781 (80) 701
Total Generation
Consolidated
Operating
Revenues ...... $17,393 $— $17,393 $15,630 $— $15,630 $14,437 $— $14,437
(a) Includes all electric sales to third parties and affiliated sales to ComEd, PECO and BGE.
(b) Other regions include the South, West and Canada, which are not considered individually significant.
(c) Other represents activities not allocated to a region. See text above for a description of included activities. Also includes amortization of intangible assets related to
commodity contracts recorded at fair value of $289 million, $767 million, and $1,505 million for the years ended December 31, 2014, 2013, and 2012, respectively,
and elimination of intersegment revenues.
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