Exelon 2015 Annual Report Download - page 181

Table of Contents
Fair Values
The following tables present maturity and source of fair value for Exelon, Generation and ComEd mark-to-market commodity contract net
assets (liabilities). The tables provide two fundamental pieces of information. First, the tables provide the source of fair value used in determining
the carrying amount of the Registrants’ total mark-to-market net assets (liabilities), net of allocated collateral. Second, the tables show the
maturity, by year, of the Registrants’ commodity contract net assets (liabilities) net of allocated collateral, giving an indication of when these mark-
to-market amounts will settle and either generate or require cash. See Note 12—Fair Value of Financial Assets and Liabilities of the Combined
Notes to Consolidated Financial Statements for additional information regarding fair value measurements and the fair value hierarchy.
Exelon
Maturities Within Total
Fair
Value 2016 2017 2018 2019 2020
2021 and
Beyond
Normal Operations, Commodity derivative contracts :
Actively quoted prices (Level 1) $ 37 $ 27 $(19) $(19) $ (7) $ — $ 19
Prices provided by external sources
(Level 2) 540 165 (8) (8) (6) — 683
Prices based on model or other valuation methods (Level 3) 572 255 95 (26) (23) (69) 804
Total $1,149 $447 $ 68 $(53) $(36) $ (69) $1,506
(a) Mark-to-market gains and losses on other economic hedge and trading derivative contracts that are recorded in results of operations.
(b) Amounts are shown net of collateral paid to and received from counterparties (and offset against mark-to-market assets and liabilities) of $1,234 million at December 31, 2015.
(c) Includes ComEd’s net assets (liabilities) associated with the floating-to-fixed energy swap contracts with unaffiliated suppliers.
Generation
Maturities Within
Total
Fair
Value 2016 2017 2018 2019 2020
2021
and
Beyond
Normal Operations, Commodity derivative contracts :
Actively quoted prices (Level 1) $ 37 $ 27 $ (19) $(19) $ (7) $ — $ 19
Prices provided by external sources (Level 2) 540 165 (8) (8) (6) — 683
Prices based on model or other valuation methods (Level 3) 595 276 116 (5) (1) 70 1,051
Total $1,172 $468 $ 89 $(32) $(14) $ 70 $1,753
(a) Mark-to-market gains and losses on other economic hedge and trading derivative contracts that are recorded in the results of operations.
(b) Amounts are shown net of collateral paid to and received from counterparties (and offset against mark-to-market assets and liabilities) of $1,234 million at December 31, 2015.
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(a)(b)
(c)
(a)(b)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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