v3.26.3
Retirement Benefits (All Registrants)
 9 Months Ended
Sep. 30, 2026
Retirement Benefits [Abstract]  
Retirement Benefits (All Registrants) Retirement Benefits (All Registrants)
Defined Benefit Pension and OPEB
The majority of the 2026 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 5.42%. The majority of the 2026 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 5.34%.
During the first quarter of 2026, Exelon received an updated valuation of its pension and OPEB to reflect actual census data as of January 1, 2026. This valuation resulted in an increase to the pension obligation of $6 million and an increase to the OPEB obligation of $10 million and a decrease to the asset of $2 million, respectively. Additionally, AOCI decreased by $4 million (after-tax) and regulatory assets increased by $23 million and liabilities increased by $1 million.
A portion of the net periodic benefit cost for all plans is capitalized within the Consolidated Balance Sheets. The following table presents the components of Exelon's net periodic benefit costs, prior to capitalization, for the three and nine months ended September 30, 2026 and 2025.
Pension BenefitsOPEB
Three Months Ended September 30,Three Months Ended September 30,
2026202520262025
Components of net periodic benefit cost
Service cost$40 $38 $6 $7 
Interest cost143 146 25 26 
Expected return on assets(176)(179)(21)(21)
Amortization of:
Prior service cost (credit)1 1 (2)(2)
Actuarial loss (gain)51 53 — (1)
Net periodic benefit cost$59 $59 $8 $9 
Pension BenefitsOPEB
Nine Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Components of net periodic benefit cost
Service cost$120 $115 $20 $19 
Interest cost428 439 75 76 
Expected return on assets(528)(535)(64)(63)
Amortization of:
Prior service cost (credit)2 2 (6)(6)
Actuarial loss (gain)151 159 (1)(2)
Net periodic benefit cost$173 $180 $24 $24 
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 PHI and each of 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 Costs2026202520262025
Exelon$67 $68 $196 $204 
ComEd26 22 80 64 
PECO5 2 13 5 
BGE7 16 21 46 
PHI21 23 62 72 
Pepco9 8 23 26 
DPL4 4 11 12 
ACE2 3 7 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, 2026 and 2025.
Three Months Ended September 30,Nine Months Ended September 30,
Savings Plan Employer Contributions2026202520262025
Exelon$33 $30 $97 $86 
ComEd17 12 41 34 
PECO5 4 14 12 
BGE3 3 9 9 
PHI3 5 15 15 
Pepco1 1 4 4 
DPL1 1 3 3 
ACE— 1 2 2