Capital expenditure expectations
Note: Numbers rounded to nearest $25M and may not add due to rounding
(1) Capital Expenditures reflect retirement of TMI in 2019
(2) Capital spend represents cash CapEx with CENG at 100% and excludes merger commitments
(3) 2019E growth capital expenditures reflects a ~$75M shift of cash outlay from 2018A to 2019E related to West Medway and Retail Solar
Exelon Debt maturity Profile as of December 31, 2018(1) ($M)
(1) Maturity profile excludes non-recourse debt, securitized debt, capital leases, fair value adjustments, unamortized debt issuance costs and unamortized discount/premium
Current Credit Ratings as of March 31, 2019
(1) Table reflects senior unsecured ratings as of March 31, 2019 for Exelon, Exelon Generation and BGE and senior secured ratings for ComEd, PECO, ACE, DPL and Pepco. Exelon’s S&P Issuer credit rating (not shown in table) is BBB+ as of March 31, 2019.
(2) ACE is on “Positive” outlook at Moody’s; all other ratings have a “Stable” outlook
Available liquidity summary as of December 31, 2018
(1) Excludes $135 million of credit facility agreements arranged at minority and community banks at Generation, ComEd, PECO, BGE, Pepco, DPL and ACE with aggregate commitments of $49 million, $33 million, $34 million, $5 million, $5 million, $5 million and $5 million, respectively. These facilities expire on October 11, 2019. These facilities are solely utilized to issue letters of credit. As of December, 31, 2018, letters of credit issued under these facilities totaled $5 million and $2 million for Generation and BGE, respectively.
(2) Excludes $545M in bilateral facilities and $159M in Project Finance facilities that do not back Generation’s commercial paper program. As of December 31, 2018, outstanding letters of credit issued under these facilities totaled $353M and $119M, respectively.
Exelon corporate structure and debt outstanding
Note: Simplified organizational chart; additional subsidiaries are not shown.
Note: Debt outstanding is as of 12/31/18; see Form 10-K for details
Note: Numbers rounded to nearest $25M