Exelon 2015 Annual Report Download - page 301

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
December 31, 2015 and 2014. The allowance for uncollectible accounts reserve methodology and assessment of the credit quality of the
installment plan receivables are consistent with the customer accounts receivable methodology discussed in Note 1—Significant Accounting
Policies. The allowance for uncollectible accounts balance associated with these receivables at December 31, 2015 and December 31, 2014 of
$15 million consists of $1 million, $3 million and $11 million for low risk, medium risk and high risk segments, respectively. The balance of the
payment agreement is billed to the customer in equal monthly installments over the term of the agreement. Installment receivables outstanding as
of December 31, 2015 and 2014 include balances not yet presented on the customer bill, accounts currently billed and an immaterial amount of
past due receivables. When a customer defaults on its payment agreement, the terms of which are defined by plan type, the entire balance of the
agreement becomes due and the balance is reclassified to current customer accounts receivable and reserved for in accordance with the
methodology discussed in Note 1—Significant Accounting Policies.
7. Property, Plant and Equipment (Exelon, Generation, ComEd, PECO and BGE)
Exelon
The following table presents a summary of property, plant and equipment by asset category as of December 31, 2015 and 2014:
Average
Service Life
(years) 2015 2014
Asset Category
Electric—transmission and distribution 5-90 $32,546 $30,157
Electric—generation 1-56 25,615 22,911
Gas—transportation and distribution 5-90 3,864 3,505
Common—electric and gas 5-50 1,149 1,169
Nuclear fuel 1-8 6,384 5,947
Construction work in progress N/A 3,075 2,167
Other property, plant and equipment 5-50 1,181 1,056
Total property, plant and equipment 73,814 66,912
Less: accumulated depreciation 16,375 14,742
Property, plant and equipment, net $57,439 $52,170
(a) Includes nuclear fuel that is in the fabrication and installation phase of $1,266 million and $1,003 million at December 31, 2015 and 2014, respectively.
(b) Includes Generation’s buildings under capital lease with a net carrying value of $13 million and $15 million at December 31, 2015 and 2014, respectively. The original cost basis of
the buildings was $52 million, and total accumulated amortization was $39 million and $37 million, as of December 31, 2015 and 2014, respectively. Also includes ComEd’s
buildings under capital lease with a net carrying value at December 31, 2015 and 2014, of $7 million and $8 million, respectively. The original cost basis of the buildings was $8
million and total accumulated amortization was $1 million and $0.3 million as of December 31, 2015 and 2014, respectively. Includes land held for future use and non utility
property at ComEd, PECO, and BGE of $57 million, $21 million, and $32 million, respectively. These balances also include capitalized acquisition, development and exploration
costs of $266 million and $242 million related to oil and gas production activities at Generation at December 31, 2015 and 2014, respectively. Includes the original cost and
progress payments associated with Generation’s turbine equipment held for future use with a carrying value of $146 million and $83 million at December 31, 2015 and 2014,
respectively.
(c) Includes accumulated amortization of nuclear fuel in the reactor core at Generation of $2,861 million and $2,673 million as of December 31, 2015 and 2014, respectively.
294
(a)
(b)
(c)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
The information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. The user assumes all risks for any damages or losses arising from any use of this information,
except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.