Exelon 2014 Annual Report Download - page 92

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The changes in Operating and maintenance expense for 2014 compared to 2013 and 2013 compared to 2012 consisted of the
following:
Increase
(Decrease)
2014 vs. 2013
Increase
(Decrease)
2013 vs. 2012
Baseline
Labor, other benefits, contracting and materials .......................................... $ 12 $ 10
Storm-related costs ................................................................. 100
(a) (49)
Pension and non-pension postretirement benefits expense ................................ (5) (12)
Merger and integration costs ......................................................... (7) (8)
Corporate allocation ................................................................ 5 —
Uncollectible accounts expense ....................................................... (9) —
Other ............................................................................ (3) 4
93 (55)
Regulatory required programs
Smart meter ....................................................................... 7 4
Energy efficiency ................................................................... 17 (9)
Consumer education program ........................................................ — (1)
Other ............................................................................ 1 —
25 (6)
Increase (decrease) in operating and maintenance expense ................................... $118 $(61)
(a) Total storm-related costs include approximately $85 million of incremental storm costs, including the February 5, 2014 ice storm and the significant July storms.
Depreciation and Amortization Expense
Year Ended December 31, 2014 Compared to Year Ended December 31, 2013. The increase in Depreciation and amortization
expense, net for 2014, compared to 2013 was primarily due to ongoing capital expenditures and regulatory required programs.
Year Ended December 31, 2013 Compared to Year Ended December 31, 2012. The increase in Depreciation and amortization
expense, net for 2013 compared to 2012 was primarily due to ongoing capital expenditures.
Taxes Other Than Income
Year Ended December 31, 2014 Compared to Year Ended December 31, 2013. Taxes other than income remained relatively
consistent.
Year Ended December 31, 2013 Compared to Year Ended December 31, 2012. The decrease in Taxes other than income for 2013
compared to 2012 was primarily due to GRT expense slightly offset by sales and use tax.
Interest Expense, Net
Year Ended December 31, 2014 Compared to Year Ended December 31, 2013. Interest expense, net remained relatively consistent.
Year Ended December 31, 2013 Compared to Year Ended December 31, 2012. The decrease in Interest expense, net for 2013
compared to 2012 was primarily due to refinancing debt at lower interest rates during the second half of 2012.
Other, Net
Year Ended December 31, 2014 Compared to Year Ended December 31, 2013. Other, net remained relatively consistent.
Year Ended December 31, 2013 Compared to Year Ended December 31, 2012. Other, net remained relatively consistent.
88