Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | EXELON CORP |
Entity Central Index Key | 0001109357 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | 36 Months Ended | |||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2022 USD ($) | ||
Pay vs Performance Disclosure [Table] | |||||
Company Selected Measure Name | [1] | Utility Earned | |||
Adjustment To PEO Compensation, Footnote [Text Block] | The dollar amounts reported in columns (c1) and (c2) represent the amount of “compensation actually paid” to Messrs. Butler and Crane, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Messrs. Crane and Butler during the applicable year. Compensation actually paid is determined using the following assumptions: Date Performance Share Closing Stock Performance TSR Performance fair 12/31/2022 2022-2024 43.23 89.19% 108.60% 96.86% 12/31/2022 2021-2023 43.23 88.29% 107.10% 94.56% 12/31/2022 2020-2022 43.23 100.00% 100.00% 100.00% 12/31/2021 2021-2023 57.76 96.22% 128.10% 123.26% 12/31/2021 2020-2022 57.76 91.73% 124.10% 113.84% 12/31/2021 2019-2021 57.76 80.53% 87.69% 70.62% 12/31/2020 2020-2022 42.22 90.33% 95.10% 85.90% 12/31/2020 2019-2021 42.22 82.27% 78.90% 64.91% 12/31/2020 2018-2020 42.22 76.01% 83.74% 63.65% 12/31/2019 2019-2021 45.59 96.30% 76.30% 73.48% 12/31/2019 2018-2020 45.59 99.97% 96.90% 96.87% 12/31/2019 2017-2019 45.59 114.76% 93.85% 107.70% In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to their total compensation for each year to determine the compensation actually paid: Adjustments Year Reported Summary Reported Value of Equity Award Reported Change Pension Benefit Compensation 2022 - Butler 6,286,091 (3,423,719) 2,745,053 (198,532) 100,853 5,509,746 2022 - Crane 30,084,980 (11,768,964) 4,732,580 (12,647,990) 474,669 10,875,275 2021 - Crane 15,667,002 (10,823,207) 25,401,442 (1,071,663) 547,951 29,721,525 2020 - Crane 14,440,051 (10,256,308) 5,382,246 (757,754) 556,368 9,364,603 a) The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” columns in the Summary Compensation Table for the applicable year. b) The amounts deducted or added in calculating the equity award adjustments are as follows: Year End Year over Year Fair Value as of Year over Year Fair Value at the Total Equity 2022 - Butler 3,175,677 (371,367) — (59,257) — 2,745,053 2022 - Crane 10,916,328 (1,221,723) — (134,318) (4,827,707) 4,732,580 2021 - Crane 17,095,928 8,081,315 — 224,199 — 25,401,442 2020 - Crane 9,023,213 (4,145,220) — 504,253 — 5,382,246 c) The amounts included in this column are the amounts reported in “Change in Pension and Nonqualified Deferred Compensation” column of the Summary Compensation Table for each applicable year. d) The total pension benefit adjustments for each applicable year include the aggregate of two components: (i) the actuarially determined service cost for services rendered by Mr. Crane or Mr. Butler during the applicable year (the “service cost”); and (ii) the entire cost of benefits granted in a plan amendment (or initiation) during the applicable year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment or initiation (the “prior service cost”), in each case, calculated in accordance with US GAAP. The amounts deducted or added in calculating the pension benefit adjustments are as follows: Service Cost Prior Service Cost Total Pension Benefit 2022 - Butler 100,853 — 100,853 2022 - Crane 474,669 — 474,669 2021 - Crane 547,951 — 547,951 2020 - Crane 556,368 — 556,368 | ||||
Non-PEO NEO Average Total Compensation Amount | [2] | $ 3,219,172 | $ 5,459,913 | $ 4,611,546 | |
Non-PEO NEO Average Compensation Actually Paid Amount | [3] | $ 2,890,661 | $ 7,403,484 | 3,334,402 | |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the NEOs as a group (excluding the PEO(s)), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding the PEO(s)) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the NEOs as a group (excluding the PEO(s)) for each year to determine the compensation actually paid, using the same methodology described above in Note 3: Average Reported Average Average Equity Average Reported Average Pension Average 2022 3,219,172 (1,596,116) 1,300,459 (69,879) 37,024 2,890,661 2021 5,459,913 (2,482,776) 4,497,496 (210,792) 139,643 7,403,484 2020 4,611,546 (2,423,879) 1,244,418 (228,141) 130,458 3,334,402 a) The amounts deducted or added in calculating the total average equity award adjustments are as follows: Average Year over Year Average Fair Year over Average Fair Average Value Total 2022 1,480,481 (162,202) — (17,819) — — 1,300,459 2021 2,889,493 1,563,343 — 44,660 — — 4,497,496 2020 2,132,461 (998,587) — 110,543 — — 1,244,418 b) The amounts deducted or added in calculating the total pension benefit adjustments are as follows: Average Average Prior Total Average 2022 37,024 — 37,024 2021 139,643 — 139,643 2020 130,458 — 130,458 | ||||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | CAP vs. Total Shareholder Return | ||||
Compensation Actually Paid vs. Net Income [Text Block] | CAP vs. Net Income | ||||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | CAP vs. ROE | ||||
Total Shareholder Return Amount | [4] | $ 147 | $ 136 | 96 | |
Peer Group Total Shareholder Return Amount | [5] | 122 | 121 | 103 | |
Net Income (Loss) | [6] | $ 2,054 | $ 1,616 | $ 1,099 | |
Company Selected Measure Amount | [1] | 9.4 | 9.2 | 8.7 | |
Additional 402(v) Disclosure [Text Block] | Pay For Performance As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Company. For further information concerning the Company’s variable pay-for-performance philosophy and how the Company aligns executive compensation with the Company’s performance, refer to the Compensation Discussion and Analysis. Value of initial fixed $100 Summary Compensation Average Average Exelon Total Peer Group Net Income Utility Year Butler Crane Butler Crane ($) (d) ($) (e) ($) (f) ($) (g) ($) (h) ROE* 2022 6,286,091 30,084,980 5,509,746 10,875,275 3,219,172 2,890,661 147 122 2,054 9.4% 2021 — 15,667,002 — 29,721,525 5,459,913 7,403,484 136 121 1,616 9.2% 2020 — 14,440,051 — 9,364,603 4,611,546 3,334,402 96 103 1,099 8.7% Notes to Pay-For-Performance Table 1. The dollar amounts reported in column (b1) are the amounts of total compensation reported for Mr. Butler (our current Chief Executive Officer) for 2022 in the “Total” column of the Summary Compensation Table. 2. The dollar amounts reported in column (b2) are the amounts of total compensation reported for Mr. Crane (our former Chief Executive Officer) for each corresponding year in the “Total” column of the Summary Compensation Table. 3. The dollar amounts reported in columns (c1) and (c2) represent the amount of “compensation actually paid” to Messrs. Butler and Crane, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Messrs. Crane and Butler during the applicable year. Compensation actually paid is determined using the following assumptions: Date Performance Share Closing Stock Performance TSR Performance fair 12/31/2022 2022-2024 43.23 89.19% 108.60% 96.86% 12/31/2022 2021-2023 43.23 88.29% 107.10% 94.56% 12/31/2022 2020-2022 43.23 100.00% 100.00% 100.00% 12/31/2021 2021-2023 57.76 96.22% 128.10% 123.26% 12/31/2021 2020-2022 57.76 91.73% 124.10% 113.84% 12/31/2021 2019-2021 57.76 80.53% 87.69% 70.62% 12/31/2020 2020-2022 42.22 90.33% 95.10% 85.90% 12/31/2020 2019-2021 42.22 82.27% 78.90% 64.91% 12/31/2020 2018-2020 42.22 76.01% 83.74% 63.65% 12/31/2019 2019-2021 45.59 96.30% 76.30% 73.48% 12/31/2019 2018-2020 45.59 99.97% 96.90% 96.87% 12/31/2019 2017-2019 45.59 114.76% 93.85% 107.70% In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to their total compensation for each year to determine the compensation actually paid: Adjustments Year Reported Summary Reported Value of Equity Award Reported Change Pension Benefit Compensation 2022 - Butler 6,286,091 (3,423,719) 2,745,053 (198,532) 100,853 5,509,746 2022 - Crane 30,084,980 (11,768,964) 4,732,580 (12,647,990) 474,669 10,875,275 2021 - Crane 15,667,002 (10,823,207) 25,401,442 (1,071,663) 547,951 29,721,525 2020 - Crane 14,440,051 (10,256,308) 5,382,246 (757,754) 556,368 9,364,603 a) The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” columns in the Summary Compensation Table for the applicable year. b) The amounts deducted or added in calculating the equity award adjustments are as follows: Year End Year over Year Fair Value as of Year over Year Fair Value at the Total Equity 2022 - Butler 3,175,677 (371,367) — (59,257) — 2,745,053 2022 - Crane 10,916,328 (1,221,723) — (134,318) (4,827,707) 4,732,580 2021 - Crane 17,095,928 8,081,315 — 224,199 — 25,401,442 2020 - Crane 9,023,213 (4,145,220) — 504,253 — 5,382,246 c) The amounts included in this column are the amounts reported in “Change in Pension and Nonqualified Deferred Compensation” column of the Summary Compensation Table for each applicable year. d) The total pension benefit adjustments for each applicable year include the aggregate of two components: (i) the actuarially determined service cost for services rendered by Mr. Crane or Mr. Butler during the applicable year (the “service cost”); and (ii) the entire cost of benefits granted in a plan amendment (or initiation) during the applicable year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment or initiation (the “prior service cost”), in each case, calculated in accordance with US GAAP. The amounts deducted or added in calculating the pension benefit adjustments are as follows: Service Cost Prior Service Cost Total Pension Benefit 2022 - Butler 100,853 — 100,853 2022 - Crane 474,669 — 474,669 2021 - Crane 547,951 — 547,951 2020 - Crane 556,368 — 556,368 4. The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s named executive officers (NEOs) as a group (excluding the PEO(s)) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding the PEO(s)) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2022, Jeanne Jones, Joseph Nigro, Gayle Littleton, David Glockner, and Gil Quiniones; (ii) for 2021, Calvin Butler, Jr., Joseph Nigro, Bryan Hanson, James McHugh, Kenneth Cornew, and William Von Hoene, Jr.; and (iii) for 2020, Calvin Butler, Jr., Joseph Nigro, Kenneth Cornew, and William Von Hoene, Jr. 5. The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the NEOs as a group (excluding the PEO(s)), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding the PEO(s)) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the NEOs as a group (excluding the PEO(s)) for each year to determine the compensation actually paid, using the same methodology described above in Note 3: Average Reported Average Average Equity Average Reported Average Pension Average 2022 3,219,172 (1,596,116) 1,300,459 (69,879) 37,024 2,890,661 2021 5,459,913 (2,482,776) 4,497,496 (210,792) 139,643 7,403,484 2020 4,611,546 (2,423,879) 1,244,418 (228,141) 130,458 3,334,402 a) The amounts deducted or added in calculating the total average equity award adjustments are as follows: Average Year over Year Average Fair Year over Average Fair Average Value Total 2022 1,480,481 (162,202) — (17,819) — — 1,300,459 2021 2,889,493 1,563,343 — 44,660 — — 4,497,496 2020 2,132,461 (998,587) — 110,543 — — 1,244,418 b) The amounts deducted or added in calculating the total pension benefit adjustments are as follows: Average Average Prior Total Average 2022 37,024 — 37,024 2021 139,643 — 139,643 2020 130,458 — 130,458 6. The values in column (f) represent cumulative TSR which is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. 7. The values in column (g) represent the peer group TSR. The peer group used for this purpose is the published industry index: Philadelphia Utility Index, a market capitalization-weighted index composed of geographically diverse public utility stocks. 8. The dollar amounts reported in column (h) represent the amount of net income reflected in the Company’s audited financial statements for the applicable year. 9. Utility Earned ROE in column (i) is calculated using adjusted (non-GAAP) operating earnings, reflecting all lines of business for the utility businesses (electric distribution, gas distribution, transmission), divided by average shareholder’s equity over the year. Management uses operating ROE as a measurement of the actual performance of the company’s utility business. While the Company uses numerous financial and non-financial performance measures for the purpose of evaluating performance for the Company’s compensation programs, the Company has determined that Utility Earned ROE is the financial performance measure that, in the Company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the company to link compensation actually paid to the company’s NEOs, for the most recently completed fiscal year, to company performance. | ||||
Defined Benefit Plan, Assumptions [Table Text Block] | Date Performance Share Closing Stock Performance TSR Performance fair 12/31/2022 2022-2024 43.23 89.19% 108.60% 96.86% 12/31/2022 2021-2023 43.23 88.29% 107.10% 94.56% 12/31/2022 2020-2022 43.23 100.00% 100.00% 100.00% 12/31/2021 2021-2023 57.76 96.22% 128.10% 123.26% 12/31/2021 2020-2022 57.76 91.73% 124.10% 113.84% 12/31/2021 2019-2021 57.76 80.53% 87.69% 70.62% 12/31/2020 2020-2022 42.22 90.33% 95.10% 85.90% 12/31/2020 2019-2021 42.22 82.27% 78.90% 64.91% 12/31/2020 2018-2020 42.22 76.01% 83.74% 63.65% 12/31/2019 2019-2021 45.59 96.30% 76.30% 73.48% 12/31/2019 2018-2020 45.59 99.97% 96.90% 96.87% 12/31/2019 2017-2019 45.59 114.76% 93.85% 107.70% | ||||
Mr. Butler [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
PEO Total Compensation Amount | [7] | $ 6,286,091 | |||
PEO Actually Paid Compensation Amount | [8] | 5,509,746 | |||
Mr. Butler [Member] | Equity Award Adjustments [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | [9] | 2,745,053 | |||
Mr. Butler [Member] | Reported Change in the Actuarial Present Value of Pension Benefits [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | [10] | (198,532) | |||
Mr. Butler [Member] | Pension Benefit Adjustments [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | [11] | 100,853 | |||
Mr. Crane [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
PEO Total Compensation Amount | [12] | 30,084,980 | 15,667,002 | 14,440,051 | |
PEO Actually Paid Compensation Amount | [8] | 10,875,275 | 29,721,525 | 9,364,603 | |
PEO [Member] | Reported Value of Equity Awards [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | [13] | (10,823,207) | (10,256,308) | ||
PEO [Member] | Equity Award Adjustments [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | [9] | 4,732,580 | 25,401,442 | 5,382,246 | |
PEO [Member] | Reported Change in the Actuarial Present Value of Pension Benefits [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | [10] | (12,647,990) | (1,071,663) | (757,754) | |
PEO [Member] | Pension Benefit Adjustments [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | [11] | 474,669 | 547,951 | 556,368 | |
PEO [Member] | Average Reported Value of Equity Awards [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (1,596,116) | (2,482,776) | (2,423,879) | ||
PEO [Member] | Average Equity Award Adjustments [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | [14] | 1,300,459 | 4,497,496 | 1,244,418 | |
PEO [Member] | Average Reported Change in the Actuarial Present Value of Pension Benefits [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (69,879) | (210,792) | (228,141) | ||
PEO [Member] | Average Pension Benefit Adjustments [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | [15] | 37,024 | 139,643 | 130,458 | |
PEO [Member] | Average Year End Fair Value of Equity Awards [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 1,480,481 | 2,889,493 | 2,132,461 | ||
PEO [Member] | Year over Year Average Change in Fair Value of Outstanding and Unvested Equity Awards [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (162,202) | 1,563,343 | (998,587) | ||
PEO [Member] | Year over Year Average Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (17,819) | 44,660 | 110,543 | ||
PEO [Member] | Average Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | |||||
PEO [Member] | Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | |||||
PEO [Member] | Average Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | |||||
PEO [Member] | Average Service Cost [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 37,024 | 139,643 | 130,458 | ||
PEO [Member] | Average Prior Service Cost [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | |||||
PEO [Member] | Mr. Butler [Member] | Reported Value of Equity Awards [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | [13] | (3,423,719) | |||
PEO [Member] | Mr. Butler [Member] | Year End Fair Value of Equity Awards [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | $ 3,175,677 | ||||
PEO [Member] | Mr. Butler [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (371,367) | ||||
PEO [Member] | Mr. Butler [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (59,257) | ||||
PEO [Member] | Mr. Butler [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | |||||
PEO [Member] | Mr. Butler [Member] | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | |||||
PEO [Member] | Mr. Butler [Member] | Service Cost [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 100,853 | ||||
PEO [Member] | Mr. Butler [Member] | Prior Service Cost [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | |||||
PEO [Member] | Mr. Crane [Member] | Reported Value of Equity Awards [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | [13] | (11,768,964) | |||
PEO [Member] | Mr. Crane [Member] | Year End Fair Value of Equity Awards [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 10,916,328 | 17,095,928 | 9,023,213 | ||
PEO [Member] | Mr. Crane [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (1,221,723) | 8,081,315 | (4,145,220) | ||
PEO [Member] | Mr. Crane [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (134,318) | 224,199 | 504,253 | ||
PEO [Member] | Mr. Crane [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | |||||
PEO [Member] | Mr. Crane [Member] | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (4,827,707) | ||||
PEO [Member] | Mr. Crane [Member] | Service Cost [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 474,669 | 547,951 | 556,368 | ||
PEO [Member] | Mr. Crane [Member] | Prior Service Cost [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | |||||
[1] Utility Earned ROE in column (i) is calculated using adjusted (non-GAAP) operating earnings, reflecting all lines of business for the utility businesses (electric distribution, gas distribution, transmission), divided by average shareholder’s equity over the year. Management uses operating ROE as a measurement of the actual performance of the company’s utility business. While the Company uses numerous financial and non-financial performance measures for the purpose of evaluating performance for the Company’s compensation programs, the Company has determined that Utility Earned ROE is the financial performance measure that, in the Company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the company to link compensation actually paid to the company’s NEOs, for the most recently completed fiscal year, to company performance. The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s named executive officers (NEOs) as a group (excluding the PEO(s)) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding the PEO(s)) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2022, Jeanne Jones, Joseph Nigro, Gayle Littleton, David Glockner, and Gil Quiniones; (ii) for 2021, Calvin Butler, Jr., Joseph Nigro, Bryan Hanson, James McHugh, Kenneth Cornew, and William Von Hoene, Jr.; and (iii) for 2020, Calvin Butler, Jr., Joseph Nigro, Kenneth Cornew, and William Von Hoene, Jr. The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the NEOs as a group (excluding the PEO(s)), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding the PEO(s)) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the NEOs as a group (excluding the PEO(s)) for each year to determine the compensation actually paid, using the same methodology described above in Note 3: Average Reported Average Average Equity Average Reported Average Pension Average 2022 3,219,172 (1,596,116) 1,300,459 (69,879) 37,024 2,890,661 2021 5,459,913 (2,482,776) 4,497,496 (210,792) 139,643 7,403,484 2020 4,611,546 (2,423,879) 1,244,418 (228,141) 130,458 3,334,402 a) The amounts deducted or added in calculating the total average equity award adjustments are as follows: Average Year over Year Average Fair Year over Average Fair Average Value Total 2022 1,480,481 (162,202) — (17,819) — — 1,300,459 2021 2,889,493 1,563,343 — 44,660 — — 4,497,496 2020 2,132,461 (998,587) — 110,543 — — 1,244,418 b) The amounts deducted or added in calculating the total pension benefit adjustments are as follows: Average Average Prior Total Average 2022 37,024 — 37,024 2021 139,643 — 139,643 2020 130,458 — 130,458 The values in column (f) represent cumulative TSR which is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. The values in column (g) represent the peer group TSR. The peer group used for this purpose is the published industry index: Philadelphia Utility Index, a market capitalization-weighted index composed of geographically diverse public utility stocks. The dollar amounts reported in column (h) represent the amount of net income reflected in the Company’s audited financial statements for the applicable year. Date Performance Share Closing Stock Performance TSR Performance fair 12/31/2022 2022-2024 43.23 89.19% 108.60% 96.86% 12/31/2022 2021-2023 43.23 88.29% 107.10% 94.56% 12/31/2022 2020-2022 43.23 100.00% 100.00% 100.00% 12/31/2021 2021-2023 57.76 96.22% 128.10% 123.26% 12/31/2021 2020-2022 57.76 91.73% 124.10% 113.84% 12/31/2021 2019-2021 57.76 80.53% 87.69% 70.62% 12/31/2020 2020-2022 42.22 90.33% 95.10% 85.90% 12/31/2020 2019-2021 42.22 82.27% 78.90% 64.91% 12/31/2020 2018-2020 42.22 76.01% 83.74% 63.65% 12/31/2019 2019-2021 45.59 96.30% 76.30% 73.48% 12/31/2019 2018-2020 45.59 99.97% 96.90% 96.87% 12/31/2019 2017-2019 45.59 114.76% 93.85% 107.70% In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to their total compensation for each year to determine the compensation actually paid: Adjustments Year Reported Summary Reported Value of Equity Award Reported Change Pension Benefit Compensation 2022 - Butler 6,286,091 (3,423,719) 2,745,053 (198,532) 100,853 5,509,746 2022 - Crane 30,084,980 (11,768,964) 4,732,580 (12,647,990) 474,669 10,875,275 2021 - Crane 15,667,002 (10,823,207) 25,401,442 (1,071,663) 547,951 29,721,525 2020 - Crane 14,440,051 (10,256,308) 5,382,246 (757,754) 556,368 9,364,603 a) The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” columns in the Summary Compensation Table for the applicable year. b) The amounts deducted or added in calculating the equity award adjustments are as follows: Year End Year over Year Fair Value as of Year over Year Fair Value at the Total Equity 2022 - Butler 3,175,677 (371,367) — (59,257) — 2,745,053 2022 - Crane 10,916,328 (1,221,723) — (134,318) (4,827,707) 4,732,580 2021 - Crane 17,095,928 8,081,315 — 224,199 — 25,401,442 2020 - Crane 9,023,213 (4,145,220) — 504,253 — 5,382,246 c) The amounts included in this column are the amounts reported in “Change in Pension and Nonqualified Deferred Compensation” column of the Summary Compensation Table for each applicable year. d) The total pension benefit adjustments for each applicable year include the aggregate of two components: (i) the actuarially determined service cost for services rendered by Mr. Crane or Mr. Butler during the applicable year (the “service cost”); and (ii) the entire cost of benefits granted in a plan amendment (or initiation) during the applicable year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment or initiation (the “prior service cost”), in each case, calculated in accordance with US GAAP. The amounts deducted or added in calculating the pension benefit adjustments are as follows: Service Cost Prior Service Cost Total Pension Benefit 2022 - Butler 100,853 — 100,853 2022 - Crane 474,669 — 474,669 2021 - Crane 547,951 — 547,951 2020 - Crane 556,368 — 556,368 4. The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s named executive officers (NEOs) as a group (excluding the PEO(s)) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding the PEO(s)) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2022, Jeanne Jones, Joseph Nigro, Gayle Littleton, David Glockner, and Gil Quiniones; (ii) for 2021, Calvin Butler, Jr., Joseph Nigro, Bryan Hanson, James McHugh, Kenneth Cornew, and William Von Hoene, Jr.; and (iii) for 2020, Calvin Butler, Jr., Joseph Nigro, Kenneth Cornew, and William Von Hoene, Jr. 5. The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the NEOs as a group (excluding the PEO(s)), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding the PEO(s)) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the NEOs as a group (excluding the PEO(s)) for each year to determine the compensation actually paid, using the same methodology described above in Note 3: Year End Year over Year Fair Value as of Year over Year Fair Value at the Total Equity 2022 - Butler 3,175,677 (371,367) — (59,257) — 2,745,053 2022 - Crane 10,916,328 (1,221,723) — (134,318) (4,827,707) 4,732,580 2021 - Crane 17,095,928 8,081,315 — 224,199 — 25,401,442 2020 - Crane 9,023,213 (4,145,220) — 504,253 — 5,382,246 Service Cost Prior Service Cost Total Pension Benefit 2022 - Butler 100,853 — 100,853 2022 - Crane 474,669 — 474,669 2021 - Crane 547,951 — 547,951 2020 - Crane 556,368 — 556,368 The amounts deducted or added in calculating the total average equity award adjustments are as follows: Average Year over Year Average Fair Year over Average Fair Average Value Total 2022 1,480,481 (162,202) — (17,819) — — 1,300,459 2021 2,889,493 1,563,343 — 44,660 — — 4,497,496 2020 2,132,461 (998,587) — 110,543 — — 1,244,418 The amounts deducted or added in calculating the total pension benefit adjustments are as follows: Average Average Prior Total Average 2022 37,024 — 37,024 2021 139,643 — 139,643 2020 130,458 — 130,458 |