Exelon 2015 Annual Report Download - page 423

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
For the year ended December 31, 2014 Exelon Generation ComEd PECO BGE
Cash paid (refunded) during the year:
Interest (net of amount capitalized) $ 940 $ 322 $ 292 $ 94 $111
Income taxes (net of refunds) 314 227 (6) 85 (21)
Other non-cash operating activities:
Pension and non-pension postretirement benefit costs $ 560 $ 249 $ 162 $ 36 $ 64
Loss from equity method investments 22 20 — — —
Provision for uncollectible accounts 156 14 26 52 64
Provision for excess and obsolete inventory 5 5 — — —
Stock-based compensation costs 91 — — — —
Other decommissioning-related activity (132) (132) — — —
Energy-related options 122 122 — — —
Amortization of regulatory asset related to debt costs 11 — 8 3 —
Amortization of rate stabilization deferral 65 — — — 65
Amortization of debt fair value adjustment (23) (23) — — —
Merger-related commitments 44 44 — — —
Amortization of debt costs 53 12 4 2 2
Discrete impacts from EIMA 53 — 53 — —
Lower of cost or market inventory adjustment 29 29 — — —
Other (2) 6 2 (1) (15)
Total other non-cash operating activities $1,054 $ 346 $ 255 $ 92 $180
Non-cash investing and financing activities:
Change in PPE related to ARO update $ 72 $ 72 $ — $— $—
Change in capital expenditures not paid 220 (61) 78 — 25
Fair value of net assets recorded upon CENG consolidation 3,400 3,400 — — —
Issuance of equity units 131 — — — —
Nuclear fuel procurement 70 70 — — —
Indemnification of like-kind exchange position — — 5 — —
(a) Includes the elimination of NDT fund activity for the Regulatory Agreement Units, including the elimination of operating revenues, ARO accretion, ARC amortization, investment
income and income taxes related to all NDT fund activity for these units. See Note 16—Asset Retirement Obligations for additional information regarding the accounting for nuclear
decommissioning.
(b) Includes option premiums reclassified to realized at the settlement of the underlying contracts and recorded to results of operations.
(c) Reflects the change in distribution rates pursuant to EIMA, which allows for the recovery of costs by a utility through a pre-established performance-based formula rate tariff. See
Note 3—Regulatory Matters for more information.
(d) Includes $170 million of changes in capital expenditures not paid between December 31, 2014 and 2013 related to Antelope Valley.
(e) See Note 5—Investment in Constellation Energy Nuclear Group, LLC for additional information.
(f) Relates to the present value of the contract payments for the equity units issued by Exelon. See Note 20—Stock-Based Compensation Plans for additional information.
(g) Relates to the nuclear fuel procurement contracts for the purchase of fixed quantities of uranium, which was delivered to Generation in 2014. Generation is required to make
payments starting June 30, 2016, with the final payment being due no later than June 30, 2018.
(h) See Note 15—Income Taxes for discussion of the like-kind exchange tax position.
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(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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