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Commitments and Contingencies (Tables) | 9 Months Ended
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Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract] |
PHI Merger Commitments | The following amounts represent total commitment costs that have been recorded since the acquisition date and the total remaining obligations for Exelon, PHI, Pepco, DPL, and ACE at September 30, 2024:
Description | Exelon |  | PHI |  | Pepco |  | DPL |  | ACE
Total commitments | $ | 513 |  |  | $ | 320 |  |  | $ | 120 |  |  | $ | 89 |  |  | $ | 111 |
Remaining commitments(a) | 30 |  |  | 27 |  |  | 24 |  |  | 2 |  |  | 1 |
__________ (a)Remaining commitments extend through 2026 and include escrow funds, charitable contributions, and rate credits.
Commercial Commitments | The Registrants’ commercial commitments at September 30, 2024, representing commitments potentially triggered by future events, were as follows:
|  |  | Expiration within
| Total |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 and beyond
Exelon |  |  |  |  |  |  |  |  |  |  |  |  |
Letters of credit(a) | $ | 54 |  |  | $ | 11 |  |  | $ | 43 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Surety bonds(b) | 195 |  |  | 86 |  |  | 107 |  |  | — |  |  | 2 |  |  | — |  |  | — |
Financing trust guarantees(c) | 378 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 78 |  |  | 300 |
Guaranteed lease residual values(d) | 26 |  |  | — |  |  | 2 |  |  | 5 |  |  | 4 |  |  | 6 |  |  | 9 |
Total commercial commitments | $ | 653 |  |  | $ | 97 |  |  | $ | 152 |  |  | $ | 5 |  |  | $ | 6 |  |  | $ | 84 |  |  | $ | 309 |
ComEd |  |  |  |  |  |  |  |  |  |  |  |  |
Letters of credit(a) | $ | 17 |  |  | $ | 4 |  |  | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Surety bonds(b) | 36 |  |  | 5 |  |  | 29 |  |  | — |  |  | 2 |  |  | — |  |  | — |
Financing trust guarantees(c) | 200 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 200 |
Total commercial commitments | $ | 253 |  |  | $ | 9 |  |  | $ | 42 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 200 |
PECO |  |  |  |  |  |  |  |  |  |  |  |  |
Letters of credit(a) | $ | 4 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Surety bonds(b) | 2 |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |
Financing trust guarantees(c) | 178 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 78 |  |  | 100 |
Total commercial commitments | $ | 184 |  |  | $ | — |  |  | $ | 6 |  |  | $ | — |  |  | $ | — |  |  | $ | 78 |  |  | $ | 100 |
BGE |  |  |  |  |  |  |  |  |  |  |  |  |
Letters of credit(a) | $ | 27 |  |  | $ | 6 |  |  | $ | 21 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Surety bonds(b) | 3 |  |  | 1 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial commitments | $ | 30 |  |  | $ | 7 |  |  | $ | 23 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
PHI |  |  |  |  |  |  |  |  |  |  |  |  |
Letters of credit(a) | $ | 3 |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Surety bonds(b) | 97 |  |  | 76 |  |  | 21 |  |  | — |  |  | — |  |  | — |  |  | — |
Guaranteed lease residual values(d) | 26 |  |  | — |  |  | 2 |  |  | 5 |  |  | 4 |  |  | 6 |  |  | 9 |
Total commercial commitments | $ | 126 |  |  | $ | 76 |  |  | $ | 26 |  |  | $ | 5 |  |  | $ | 4 |  |  | $ | 6 |  |  | $ | 9 |
Pepco |  |  |  |  |  |  |  |  |  |  |  |  |
Letters of credit(a) | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Surety bonds(b) | 85 |  |  | 71 |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  | — |
Guaranteed lease residual values(d) | 9 |  |  | — |  |  | 1 |  |  | 2 |  |  | 1 |  |  | 2 |  |  | 3 |
Total commercial commitments | $ | 96 |  |  | $ | 71 |  |  | $ | 17 |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 3 |
DPL |  |  |  |  |  |  |  |  |  |  |  |  |
Letters of credit(a) | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Surety bonds(b) | 7 |  |  | 3 |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | — |
Guaranteed lease residual values(d) | 10 |  |  | — |  |  | 1 |  |  | 2 |  |  | 2 |  |  | 2 |  |  | 3 |
Total commercial commitments | $ | 18 |  |  | $ | 3 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 3 |
ACE |  |  |  |  |  |  |  |  |  |  |  |  |
Surety bonds(b) | $ | 5 |  |  | $ | 2 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Guaranteed lease residual values(d) | 7 |  |  | — |  |  | — |  |  | 1 |  |  | 1 |  |  | 2 |  |  | 3 |
Total commercial commitments | $ | 12 |  |  | $ | 2 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 3 |
__________ (a)Exelon and certain of its subsidiaries maintain non-debt letters of credit to provide credit support for certain transactions as requested by third parties. (b)Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds. Historically, payments under the guarantees have not been made and the likelihood of payments being required is remote. (c)Reflects guarantee of ComEd and PECO securities held by ComEd Financing III, PECO Trust III, and PECO Trust IV. (d)Represents the maximum potential obligation in the event the fair value of certain leased equipment and fleet vehicles is zero at the end of the maximum lease term. The lease term associated with these assets ranges from 1 to 9 years. The maximum potential obligation at the end of the minimum lease term would be $60 million guaranteed by Exelon and PHI, of which $21 million, $22 million, and $17 million is guaranteed by Pepco, DPL, and ACE, respectively. Historically, payments under the guarantees have not been made and PHI believes the likelihood of payments being required under the guarantees is remote.
Accrued environmental liabilities | At September 30, 2024 and December 31, 2023, the Registrants had accrued the following undiscounted amounts for environmental liabilities in Accrued expenses, Other current liabilities, and Other deferred credits and other liabilities in their respective Consolidated Balance Sheets:
| September 30, 2024 |  | December 31, 2023
| Total Environmental Investigation and Remediation Liabilities |  | Portion of Total Related to MGP Investigation and Remediation |  | Total Environmental Investigation and Remediation Liabilities |  | Portion of Total Related to MGP Investigation and Remediation
Exelon | $ | 410 |  |  | $ | 328 |  |  | $ | 428 |  |  | $ | 338 |
ComEd | 290 |  |  | 289 |  |  | 303 |  |  | 302 |
PECO | 31 |  |  | 28 |  |  | 27 |  |  | 25 |
BGE | 14 |  |  | 11 |  |  | 14 |  |  | 11 |
PHI | 75 |  |  | — |  |  | 81 |  |  | — |
Pepco | 73 |  |  | — |  |  | 79 |  |  | — |
DPL | 1 |  |  | — |  |  | 1 |  |  | — |
ACE | 1 |  |  | — |  |  | 1 |  |  | — |

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