v3.23.1
Fair Value of Financial Assets and Liabilities (Tables)
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3 Months Ended |
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Fair Value Disclosures [Abstract] |
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Fair Value of Financial Liabilities Recorded at Amortized Cost |
Fair Value of Financial Liabilities Recorded at Amortized Cost The following tables present the carrying amounts and fair values of the Registrants’ short-term liabilities, long-term debt, and trust preferred securities (long-term debt to financing trusts or junior subordinated debentures) as of March 31, 2023 and December 31, 2022. The Registrants have no financial liabilities classified as Level 1 or measured using the NAV practical expedient. The carrying amounts of the Registrants’ short-term liabilities as presented in their Consolidated Balance Sheets are representative of their fair value (Level 2) because of the short-term nature of these instruments. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2023 | | December 31, 2022 | | | Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | | | | Level 2 | | Level 3 | | Total | | | Level 2 | | Level 3 | | Total | Long-Term Debt, including amounts due within one year(a) | Exelon | | $ | 40,088 | | | $ | 33,224 | | | $ | 2,870 | | | $ | 36,094 | | | $ | 37,074 | | | $ | 29,902 | | | $ | 2,327 | | | $ | 32,229 | | ComEd | | 11,480 | | | 10,236 | | | — | | | 10,236 | | | 10,518 | | | 9,006 | | | — | | | 9,006 | | PECO | | 4,613 | | | 3,946 | | | 50 | | | 3,996 | | | 4,612 | | | 3,864 | | | 50 | | | 3,914 | | BGE | | 4,208 | | | 3,685 | | | — | | | 3,685 | | | 4,207 | | | 3,613 | | | — | | | 3,613 | | PHI | | 8,553 | | | 4,632 | | | 2,820 | | | 7,452 | | | 8,120 | | | 4,507 | | | 2,277 | | | 6,784 | | Pepco | | 3,995 | | | 2,295 | | | 1,507 | | | 3,802 | | | 3,751 | | | 2,229 | | | 1,205 | | | 3,434 | | DPL | | 2,061 | | | 1,183 | | | 604 | | | 1,787 | | | 1,938 | | | 1,164 | | | 458 | | | 1,622 | | ACE | | 1,831 | | | 935 | | | 709 | | | 1,644 | | | 1,757 | | | 909 | | | 614 | | | 1,523 | | Long-Term Debt to Financing Trusts | Exelon | | $ | 390 | | | $ | — | | | $ | 392 | | | $ | 392 | | | $ | 390 | | | $ | — | | | $ | 384 | | | $ | 384 | | ComEd | | 205 | | | — | | | 207 | | | 207 | | | 205 | | | — | | | 204 | | | 204 | | PECO | | 184 | | | — | | | 185 | | | 185 | | | 184 | | | — | | | 180 | | | 180 | |
__________ (a)Includes unamortized debt issuance costs, unamortized debt discount and premium, net, purchase accounting fair value adjustments, and finance lease liabilities which are not fair valued. Refer to Note 16 — Debt and Credit Agreements of the 2022 Form 10-K for unamortized debt issuance costs, unamortized debt discount and premium, net, and purchase accounting fair value adjustments and Note 10 — Leases of the 2022 Form 10-K for finance lease liabilities.
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Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
Recurring Fair Value Measurements The following tables present assets and liabilities measured and recorded at fair value in the Registrants' Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy as of March 31, 2023 and December 31, 2022. The Registrants have no financial assets or liabilities measured using the NAV practical expedient: Exelon | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of March 31, 2023 | | As of December 31, 2022 | | Level 1 | | Level 2 | | Level 3 | | | | Total | | Level 1 | | Level 2 | | Level 3 | | | | Total | Assets | | | | | | | | | | | | | | | | | | | | Cash equivalents(a) | $ | 523 | | | $ | — | | | $ | — | | | | | $ | 523 | | | $ | 664 | | | $ | — | | | $ | — | | | | | $ | 664 | | Rabbi trust investments | | | | | | | | | | | | | | | | | | | | Cash equivalents | 65 | | | — | | | — | | | | | 65 | | | 62 | | | — | | | — | | | | | 62 | | Mutual funds | 49 | | | — | | | — | | | | | 49 | | | 49 | | | — | | | — | | | | | 49 | | Fixed income | — | | | 7 | | | — | | | | | 7 | | | — | | | 7 | | | — | | | | | 7 | | Life insurance contracts | — | | | 56 | | | 41 | | | | | 97 | | | — | | | 58 | | | 40 | | | | | 98 | | Rabbi trust investments subtotal | 114 | | | 63 | | | 41 | | | | | 218 | | | 111 | | | 65 | | | 40 | | | | | 216 | | | | | | | | | | | | | | | | | | | | | | Interest rate derivative assets | | | | | | | | | | | | | | | | | | | | Derivatives designated as hedging instruments | — | | | — | | | — | | | | | — | | | — | | | 6 | | | — | | | | | 6 | | Economic hedges | — | | | 3 | | | — | | | | | 3 | | | — | | | 5 | | | — | | | | | 5 | | Interest rate derivative assets subtotal | — | | | 3 | | | — | | | | | 3 | | | — | | | 11 | | | — | | | | | 11 | | Total assets | 637 | | | 66 | | | 41 | | | | | 744 | | | 775 | | | 76 | | | 40 | | | | | 891 | | Liabilities | | | | | | | | | | | | | | | | | | | | Mark-to-market derivative liabilities | — | | | — | | | (98) | | | | | (98) | | | — | | | — | | | (84) | | | | | (84) | | Interest rate derivative liabilities | | | | | | | | | | | | | | | | | | | | Derivatives designated as hedging instruments | — | | | (1) | | | — | | | | | (1) | | | — | | | (4) | | | — | | | | | (4) | | Economic hedges | — | | | (1) | | | — | | | | | (1) | | | — | | | (3) | | | — | | | | | (3) | | Interest rate derivative liabilities subtotal | — | | | (2) | | | — | | | | | (2) | | | — | | | (7) | | | — | | | | | (7) | | Deferred compensation obligation | — | | | (75) | | | — | | | | | (75) | | | — | | | (75) | | | — | | | | | (75) | | Total liabilities | — | | | (77) | | | (98) | | | | | (175) | | | — | | | (82) | | | (84) | | | | | (166) | | Total net assets (liabilities) | $ | 637 | | | $ | (11) | | | $ | (57) | | | | | $ | 569 | | | $ | 775 | | | $ | (6) | | | $ | (44) | | | | | $ | 725 | |
__________ (a)Exelon excludes cash of $482 million and $345 million as of March 31, 2023 and December 31, 2022, respectively, and restricted cash of $78 million and $81 million as of March 31, 2023 and December 31, 2022, respectively, and includes long-term restricted cash of $180 million and $117 million as of March 31, 2023 and December 31, 2022, respectively, which is reported in Other deferred debits and other assets in the Consolidated Balance Sheets. ComEd, PECO, and BGE | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ComEd | | PECO | | BGE | As of March 31, 2023 | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | Assets | | | | | | | | | | | | | | | | | | | | | | | | Cash equivalents(a) | $ | 454 | | | $ | — | | | $ | — | | | $ | 454 | | | $ | 11 | | | $ | — | | | $ | — | | | $ | 11 | | | $ | 1 | | | $ | — | | | $ | — | | | $ | 1 | | Rabbi trust investments | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Mutual funds | — | | | — | | | — | | | — | | | 8 | | | — | | | — | | | 8 | | | 9 | | | — | | | — | | | 9 | | Life insurance contracts | — | | | — | | | — | | | — | | | — | | | 15 | | | — | | | 15 | | | — | | | — | | | — | | | — | | Rabbi trust investments subtotal | — | | | — | | | — | | | — | | | 8 | | | 15 | | | — | | | 23 | | | 9 | | | — | | | — | | | 9 | | | | | | | | | | | | | | | | | | | | | | | | | | Total assets | 454 | | | — | | | — | | | 454 | | | 19 | | | 15 | | | — | | | 34 | | | 10 | | | — | | | — | | | 10 | | Liabilities | | | | | | | | | | | | | | | | | | | | | | | | Mark-to-market derivative liabilities(b) | — | | | — | | | (98) | | | (98) | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Deferred compensation obligation | — | | | (8) | | | — | | | (8) | | | — | | | (8) | | | — | | | (8) | | | — | | | (4) | | | — | | | (4) | | Total liabilities | — | | | (8) | | | (98) | | | (106) | | | — | | | (8) | | | — | | | (8) | | | — | | | (4) | | | — | | | (4) | | Total net assets (liabilities) | $ | 454 | | | $ | (8) | | | $ | (98) | | | $ | 348 | | | $ | 19 | | | $ | 7 | | | $ | — | | | $ | 26 | | | $ | 10 | | | $ | (4) | | | $ | — | | | $ | 6 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ComEd | | PECO | | BGE | As of December 31, 2022 | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | Assets | | | | | | | | | | | | | | | | | | | | | | | | Cash equivalents(a) | $ | 392 | | | $ | — | | | $ | — | | | $ | 392 | | | $ | 10 | | | $ | — | | | $ | — | | | $ | 10 | | | $ | 23 | | | $ | — | | | $ | — | | | $ | 23 | | Rabbi trust investments | | | | | | | | | | | | | | | | | | | | | | | | Mutual funds | — | | | — | | | — | | | — | | | 7 | | | — | | | — | | | 7 | | | 7 | | | — | | | — | | | 7 | | Life insurance contracts | — | | | — | | | — | | | — | | | — | | | 15 | | | — | | | 15 | | | — | | | — | | | — | | | — | | Rabbi trust investments subtotal | — | | | — | | | — | | | — | | | 7 | | | 15 | | | — | | | 22 | | | 7 | | | — | | | — | | | 7 | | Total assets | 392 | | | — | | | — | | | 392 | | | 17 | | | 15 | | | — | | | 32 | | | 30 | | | — | | | — | | | 30 | | Liabilities | | | | | | | | | | | | | | | | | | | | | | | | Mark-to-market derivative liabilities(b) | — | | | — | | | (84) | | | (84) | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Deferred compensation obligation | — | | | (8) | | | — | | | (8) | | | — | | | (7) | | | — | | | (7) | | | — | | | (4) | | | — | | | (4) | | Total liabilities | — | | | (8) | | | (84) | | | (92) | | | — | | | (7) | | | — | | | (7) | | | — | | | (4) | | | — | | | (4) | | Total net assets (liabilities) | $ | 392 | | | $ | (8) | | | $ | (84) | | | $ | 300 | | | $ | 17 | | | $ | 8 | | | $ | — | | | $ | 25 | | | $ | 30 | | | $ | (4) | | | $ | — | | | $ | 26 | |
__________ (a)ComEd excludes cash of $51 million and $42 million as of March 31, 2023 and December 31, 2022, respectively, and restricted cash of $73 million and $77 million as of March 31, 2023 and December 31, 2022, respectively, and includes long-term restricted cash of $180 million and $117 million as of March 31, 2023 and December 31, 2022, respectively, which is reported in Other deferred debits and other assets in the Consolidated Balance Sheets. PECO excludes cash of $25 million and $58 million as of March 31, 2023 and December 31, 2022, respectively. BGE excludes cash of $19 million and $43 million as of March 31, 2023 and December 31, 2022, respectively, and restricted cash of $1 million and $1 million as of March 31, 2023 and December 31, 2022, respectively. (b)The Level 3 balance consists of the current and noncurrent liability of $22 million and $76 million, respectively, as of March 31, 2023 and $5 million and $79 million, respectively, as of December 31, 2022 related to floating-to-fixed energy swap contracts with unaffiliated suppliers. PHI, Pepco, DPL, and ACE | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of March 31, 2023 | | As of December 31, 2022 | PHI | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | Assets | | | | | | | | | | | | | | | | Cash equivalents(a) | $ | 35 | | | $ | — | | | $ | — | | | $ | 35 | | | $ | 205 | | | $ | — | | | $ | — | | | $ | 205 | | Rabbi trust investments | | | | | | | | | | | | | | | | Cash equivalents | 62 | | | — | | | — | | | 62 | | | 59 | | | — | | | — | | | 59 | | Mutual funds | 10 | | | — | | | — | | | 10 | | | 11 | | | — | | | — | | | 11 | | Fixed income | — | | | 7 | | | — | | | 7 | | | — | | | 7 | | | — | | | 7 | | Life insurance contracts | — | | | 20 | | | 39 | | | 59 | | | — | | | 22 | | | 39 | | | 61 | | Rabbi trust investments subtotal | 72 | | | 27 | | | 39 | | | 138 | | | 70 | | | 29 | | | 39 | | | 138 | | Total assets | 107 | | | 27 | | | 39 | | | 173 | | | 275 | | | 29 | | | 39 | | | 343 | | Liabilities | | | | | | | | | | | | | | | | Deferred compensation obligation | — | | | (13) | | | — | | | (13) | | | — | | | (14) | | | — | | | (14) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total liabilities | — | | | (13) | | | — | | | (13) | | | — | | | (14) | | | — | | | (14) | | Total net assets | $ | 107 | | | $ | 14 | | | $ | 39 | | | $ | 160 | | | $ | 275 | | | $ | 15 | | | $ | 39 | | | $ | 329 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pepco | | DPL | | ACE | As of March 31, 2023 | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | Assets | | | | | | | | | | | | | | | | | | | | | | | | Cash equivalents(a) | $ | 26 | | | $ | — | | | $ | — | | | $ | 26 | | | $ | 1 | | | $ | — | | | $ | — | | | $ | 1 | | | $ | 1 | | | $ | — | | | $ | — | | | $ | 1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Rabbi trust investments | | | | | | | | | | | | | | | | | | | | | | | | Cash equivalents | 61 | | | — | | | — | | | 61 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | Life insurance contracts | — | | | 20 | | | 39 | | | 59 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Rabbi trust investments subtotal | 61 | | | 20 | | | 39 | | | 120 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Total assets | 87 | | | 20 | | | 39 | | | 146 | | | 1 | | | — | | | — | | | 1 | | | 1 | | | — | | | — | | | 1 | | Liabilities | | | | | | | | | | | | | | | | | | | | | | | | Deferred compensation obligation | — | | | (1) | | | — | | | (1) | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total liabilities | — | | | (1) | | | — | | | (1) | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Total net assets | $ | 87 | | | $ | 19 | | | $ | 39 | | | $ | 145 | | | $ | 1 | | | $ | — | | | $ | — | | | $ | 1 | | | $ | 1 | | | $ | — | | | $ | — | | | $ | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pepco | | DPL | | ACE | As of December 31, 2022 | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | Assets | | | | | | | | | | | | | | | | | | | | | | | | Cash equivalents(a) | $ | 51 | | | $ | — | | | $ | — | | | $ | 51 | | | $ | 121 | | | $ | — | | | $ | — | | | $ | 121 | | | $ | 1 | | | $ | — | | | $ | — | | | $ | 1 | | Rabbi trust investments | | | | | | | | | | | | | | | | | | | | | | | | Cash equivalents | 59 | | | — | | | — | | | 59 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Life insurance contracts | — | | | 22 | | | 38 | | | 60 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Rabbi trust investments subtotal | 59 | | | 22 | | | 38 | | | 119 | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Total assets | 110 | | | 22 | | | 38 | | | 170 | | | 121 | | | — | | | — | | | 121 | | | 1 | | | — | | | — | | | 1 | | Liabilities | | | | | | | | | | | | | | | | | | | | | | | | Deferred compensation obligation | — | | | (1) | | | — | | | (1) | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total liabilities | — | | | (1) | | | — | | | (1) | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Total net assets | $ | 110 | | | $ | 21 | | | $ | 38 | | | $ | 169 | | | $ | 121 | | | $ | — | | | $ | — | | | $ | 121 | | | $ | 1 | | | $ | — | | | $ | — | | | $ | 1 | |
__________ (a)PHI excludes cash of $358 million and $165 million as of March 31, 2023 and December 31, 2022, respectively, and restricted cash of $3 million and $3 million as of March 31, 2023 and December 31, 2022, respectively. Pepco excludes cash of $124 million and $45 million as of March 31, 2023 and December 31, 2022, respectively, and restricted cash of $3 million and $3 million as of March 31, 2023 and December 31, 2022, respectively. DPL excludes cash of $142 million and $31 million as of March 31, 2023 and December 31, 2022, respectively. ACE excludes cash of $70 million and $71 million as of March 31, 2023 and December 31, 2022, respectively.
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Fair Value Reconciliation of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis |
Reconciliation of Level 3 Assets and Liabilities The following tables present the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis during the three months ended March 31, 2023 and 2022: | | | | | | | | | | | | | | | | | | | | | Exelon | | ComEd | | PHI and Pepco | | | Three Months Ended March 31, 2023 | Total | | Mark-to-Market Derivatives | | Life Insurance Contracts | | | Balance as of December 31, 2022 | $ | (44) | | | $ | (84) | | | $ | 40 | | | | Total realized / unrealized gains | | | | | | | | Included in net income(a) | 1 | | | — | | | 1 | | | | | | | | | | | | | | | | | | | | Included in regulatory assets/liabilities | (14) | | | (14) | | (b) | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance as of March 31, 2023 | $ | (57) | | | $ | (98) | | (c) | $ | 41 | | | | The amount of total gains included in income attributed to the change in unrealized gains related to assets and liabilities as of March 31, 2023 | $ | 1 | | | $ | — | | | $ | 1 | | | |
| | | | | | | | | | | | | | | | | | | | | Exelon | | ComEd | | PHI and Pepco | | | Three Months Ended March 31, 2022 | Total | | Mark-to-Market Derivatives | | Life Insurance Contracts | | | Balance as of December 31, 2021 | $ | (182) | | | $ | (219) | | | $ | 35 | | | | Total realized / unrealized gains | | | | | | | | Included in net income(a) | 1 | | | — | | | 1 | | | | | | | | | | | | | | | | | | | | Included in regulatory assets | 75 | | | 75 | | (b) | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Transfers out of Level 3 | (1) | | | — | | | — | | | | Balance as of March 31, 2022 | $ | (107) | | | $ | (144) | | | $ | 36 | | | | The amount of total gains included in income attributed to the change in unrealized gain related to assets and liabilities as of March 31, 2022 | $ | 1 | | | $ | — | | | $ | 1 | | | | __________(a)Classified in Operating and maintenance expense in the Consolidated Statements of Operations and Comprehensive Income. (b)Includes $25 million of decreases in fair value and an increase for realized gains due to settlements of $11 million recorded in Purchased power expense associated with floating-to-fixed energy swap contracts with unaffiliated suppliers for the three months ended March 31, 2023. Includes $69 million of increases in fair value and an increase for realized losses due to settlements of $6 million recorded in Purchased power expense associated with floating-to-fixed energy swap contracts with unaffiliated suppliers for the three months ended March 31, 2022. (c)The balance consists of a current and noncurrent liability of $22 million and $76 million, respectively, as of March 31, 2023.
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Fair Value Reconciliation of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis, Valuation Technique |
Mark-to-Market Derivatives (Exelon and ComEd) The table below discloses the significant unobservable inputs to the forward curve used to value mark-to-market derivatives. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Type of trade | | Fair Value as of March 31, 2023 | | Fair Value as of December 31, 2022 | | Valuation Technique | | Unobservable Input | | 2023 Range & Arithmetic Average | | 2022 Range & Arithmetic Average | Mark-to-market derivatives | | $ | (98) | | | $ | (84) | | | Discounted Cash Flow | | Forward power price(a) | | $22.49 | - | $83.26 | $47.69 | | $34.78 | - | $75.71 | $48.44 |
________ (a)An increase to the forward power price would increase the fair value.
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- DefinitionThis element represents, for the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (net); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs).
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- DefinitionTabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis.
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- DefinitionTabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.
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- DefinitionTabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).
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