XML 248 R49.htm IDEA: XBRL DOCUMENT
v3.24.3

Retirement Benefits (All Registrants) | 9 Months Ended
--- | ---
Sep. 30, 2024
Retirement Benefits [Abstract] |
Retirement Benefits (All Registrants) | Retirement Benefits (All Registrants) Defined Benefit Pension and OPEB The majority of the 2024 pension benefit cost for the Exelon-sponsored plans is calculated using an expected long-term rate of return on plan assets of 7.00% and a discount rate of 5.19%. The majority of the 2024 OPEB cost is calculated using an expected long-term rate of return on plan assets of 6.50% for funded plans and a discount rate of 5.17%. During the first quarter of 2024, Exelon received an updated valuation of its pension and OPEB to reflect actual census data as of January 1, 2024. This valuation resulted in an increase to the pension obligation of $98 million and a decrease to the OPEB obligation of $1 million. Additionally, AOCI increased by $25 million (after-tax) and regulatory assets and liabilities increased by $66 million and $2 million, respectively. A portion of the net periodic benefit cost for all plans is capitalized within the Consolidated Balance Sheets. The following tables present the components of Exelon's net periodic benefit costs, prior to capitalization, for the three and nine months ended September 30, 2024 and 2023.
| Pension Benefits |  | OPEB
| Three Months Ended September 30, |  | Three Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Components of net periodic benefit cost |  |  |  |  |  |  |
Service cost | $ | 43 |  |  | $ | 39 |  |  | $ | 6 |  |  | $ | 6 |
Interest cost | 141 |  |  | 145 |  |  | 24 |  |  | 25 |
Expected return on assets | (184) |  |  | (189) |  |  | (21) |  |  | (21) |
Amortization of: |  |  |  |  |  |  |
Prior service cost (credit) | 1 |  |  | 1 |  |  | (2) |  |  | (2) |
Actuarial loss | 53 |  |  | 41 |  |  | — |  |  | — |
Settlement charges | — |  |  | 18 |  |  | — |  |  | — |
Net periodic benefit cost | $ | 54 |  |  | $ | 55 |  |  | $ | 7 |  |  | $ | 8 |
| Pension Benefits |  | OPEB
| Nine Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Components of net periodic benefit cost |  |  |  |  |  |  |
Service cost | $ | 125 |  |  | $ | 116 |  |  | $ | 20 |  |  | $ | 18 |
Interest cost | 423 |  |  | 434 |  |  | 72 |  |  | 76 |
Expected return on assets | (552) |  |  | (566) |  |  | (63) |  |  | (63) |
Amortization of: |  |  |  |  |  |  |
Prior service cost (credit) | 2 |  |  | 2 |  |  | (6) |  |  | (7) |
Actuarial loss (gain) | 160 |  |  | 125 |  |  | — |  |  | (1) |
Settlement charges | — |  |  | 18 |  |  | — |  |  | — |
Net periodic benefit cost | $ | 158 |  |  | $ | 129 |  |  | $ | 23 |  |  | $ | 23 |
The amounts below represent the Registrants' allocated pension and OPEB costs. For Exelon, the service cost component is included in Operating and maintenance expense and Property, plant, and equipment, net while the non-service cost components are included in Other, net and Regulatory assets. For the Utility Registrants, which apply multi-employer accounting, the service cost and non-service cost components are included in Operating and maintenance expense and Property, plant, and equipment, net in their consolidated financial statements.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Pension and OPEB Costs (Benefit) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Exelon |  | $ | 61 |  |  | $ | 63 |  |  | $ | 181 |  |  | $ | 152 |
ComEd |  | 17 |  |  | 6 |  |  | 53 |  |  | 19 |
PECO |  | (1) |  |  | (3) |  |  | (1) |  |  | (10) |
BGE |  | 14 |  |  | 14 |  |  | 45 |  |  | 42 |
PHI |  | 25 |  |  | 25 |  |  | 71 |  |  | 74 |
Pepco |  | 8 |  |  | 9 |  |  | 24 |  |  | 26 |
DPL |  | 4 |  |  | 4 |  |  | 11 |  |  | 13 |
ACE |  | 3 |  |  | 3 |  |  | 10 |  |  | 10 |
Defined Contribution Savings Plan The Registrants participate in a 401(k) defined contribution savings plan that is sponsored by Exelon. The plan is qualified under applicable sections of the IRC and allows employees to contribute a portion of their pre-tax and/or after-tax income in accordance with specified guidelines. All Registrants match a percentage of the employee contributions up to certain limits. The following table presents the employer contributions and employer matching contributions to the savings plan for the three and nine months ended September 30, 2024 and 2023.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Savings Plan Employer Contributions |  | 2024 |  | 2023 |  | 2024 |  | 2023
Exelon |  | $ | 25 |  |  | $ | 27 |  |  | $ | 76 |  |  | $ | 74 |
ComEd |  | 12 |  |  | 12 |  |  | 32 |  |  | 31 |
PECO |  | 3 |  |  | 3 |  |  | 11 |  |  | 10 |
BGE |  | 2 |  |  | 3 |  |  | 8 |  |  | 8 |
PHI |  | 4 |  |  | 5 |  |  | 12 |  |  | 13 |
Pepco |  | 1 |  |  | 1 |  |  | 3 |  |  | 3 |
DPL |  | 1 |  |  | 1 |  |  | 3 |  |  | 3 |
ACE |  | 1 |  |  | 1 |  |  | 2 |  |  | 2 |

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for retirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 70 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480794/715-70-50-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(03) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (q) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/715/tableOfContent Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (o) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (p) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (r)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (r)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 60 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480266/715-60-50-3 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration