ComEd 2006 Annual Report Download - page 272

Exelon Corporation and Subsidiary Companies
Exelon Generation Company, LLC and Subsidiary Companies
Commonwealth Edison Company and Subsidiary Companies
PECO Energy Company and Subsidiary Companies
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
a regulatory asset of $1.4 billion and an offsetting reduction on an after-tax basis of AOCI of $866 million representing a
reasonable approximation of the actuarial losses, prior service costs and transition obligations of Exelon’s pension and other
postretirement benefit plans that are probable of recovery through rates by Exelon’s regulated utilities in future periods.
(c) Represents the write-off of the pension intangible asset as required by SFAS No. 158.
(d) Represents the unfunded obligation related to Exelon’s deferred compensation unit plan.
The following table provides the components of Exelon’s accumulated other comprehensive loss
and regulatory assets that have not been recognized as components of periodic benefit cost as of
December 31, 2006 for all plans combined:
Pension Benefits
Other Postretirement
Benefits
Transition asset ......................................... $ — $ 30
Prior service cost (credit) .................................. 139 (149)
Actuarial loss ........................................... 1,887 502
Total .................................................. $2,026 $ 383
As of December 31, 2006, $15 million and $92 million of the prior service cost and actuarial loss,
respectively, related to pension benefits currently in accumulated other comprehensive income will be
amortized as components of periodic benefit cost in 2007. As of December 31, 2006, $5 million, $(30)
million and $34 million of the transition obligation, prior service gain and actuarial loss, respectively,
related to other postretirement benefits currently in accumulated other comprehensive income will be
amortized as components of periodic benefit cost in 2007. As of December 31, 2006, $1 million and
$56 million of the prior service cost and actuarial loss, respectively, related to pension benefits
currently in regulatory assets will be amortized as components of periodic benefit cost in 2007. As of
December 31, 2006, $4 million, $(27) million and $33 million of the transition obligation, prior service
gain and actuarial loss, respectively, related to other postretirement benefits currently in regulatory
assets will be amortized as components of periodic benefit cost in 2007.
The ABO for all defined benefit pension plans was $9,502 million and $9,234 million at
December 31, 2006 and 2005, respectively. On an ABO basis, the plans were funded at 102% at
December 31, 2006 compared to 98% at December 31, 2005. On a projected benefit obligation (PBO)
basis, the plans were funded at 93% at December 31, 2006 compared to 88% at December 31, 2005.
The following table provides the PBO, ABO, and fair value of plan assets for all pension plans with
an ABO in excess of plan assets.
December 31,
2006 2005
Projected benefit obligation ................................................ $1,241 $9,457
Accumulated benefit obligation ............................................. 1,193 8,463
Fair value of plan assets .................................................. 1,020 8,196
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