United States
Securities and Exchange Commission
Washington, D.C. 20549
Form U-13-60
Annual Report
For the Period
Beginning January 1, 2003 and Ending December 31, 2003
TO THE
U.S. SECURITIES AND EXCHANGE COMMISSION
FOR
EXELON BUSINESS SERVICES COMPANY
A Subsidiary Service Company
Date of Incorporation 12/31/00
------------------------------
State of Sovereign Power under which Incorporated or Organized Pennsylvania
-----------------
Location of Principal Executive Offices of Reporting Company
10 South Dearborn St., Chicago, IL 60680-5379
---------------------------------------------
Name, title, and address of officer to whom correspondence concerning this
report should be addressed:
Robert S. Shapard Executive Vice-President and Chief Financial Officer
---------------------- -------------------------------------------------------
(Name) (Title)
10 South Dearborn Street, Chicago, IL 60680-5379
------------------------------------------------
(Address)
Name of Principal Holding Company Whose Subsidiaries are served by Reporting
Company:
Exelon Corporation
--------------------------------------------------------------------------------
LISTING OF SCHEDULES AND ANALYSIS OF ACCOUNTS
Schedule of
Account Page
Description of Schedules and Accounts Number Number
-----------------------------------------------------------------------------------------------------
Comparative Balance Sheet Schedule I 4-5
Service Company Property Schedule II 6
Accumulated Provision for Depreciation
and Amortization of Service Company Property Schedule III 7
Investments Schedule IV 8
Accounts Receivable from Associate Companies Schedule V 9-10
Fuel Stock Expenses Undistributed Schedule VI 11
Stores Expense Undistributed Schedule VII 11
Miscellaneous Current and Accrued Assets Schedule VIII 12
Miscellaneous Deferred Debits Schedule IX 12
Research, Development, or Demonstration Expenditures Schedule X 13
Proprietary Capital Schedule XI 13-14
Long-Term Debt Schedule XII 14
Current and Accrued Liabilities Schedule XIII 15
Notes to Financial Statements Schedule XIV 16
Comparative Statement of Income Schedule XV 17
Analysis of Billing - Associated Companies Account 457 18
Analysis of Billing - Non Associate Companies Account 458 19
Analysis of Charges for Service-Associate and
and Non Associate Companies Schedule XVI 20-23
Schedule of Expense Distribution by Department or Service Function Schedule XVII 24-27
Departmental Analysis of Salaries Account 920 28
Outside Services Employed Account 923 29-42
Employee Pensions and Benefits Account 926 43
General Advertising Expenses Account 930.1 44-45
Miscellaneous General Expenses Account 930.2 46
Rents Account 931 46
2
LISTING OF SCHEDULES AND ANALYSIS OF ACCOUNTS
Schedule of
Account Page
Description of Schedules and Accounts Number Number
-----------------------------------------------------------------------------------------------------
Taxes Other Than Income Taxes Account 408 47
Donations Account 426.1 48-50
Other Deductions Account 426.5 51
Notes to Statement of Income Schedule XVIII 52
Organization Chart 53
Methods of Allocation 54
Annual Statement of Compensation for Use of Capital Billed 55
Exhibit 1: Non-Service Associate Company Transactions 56
3
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
Schedule I - Comparative Balance Sheet
(in thousands)
Give balance sheet of the Company as of December 31 of the current period and prior year.
Account Assets and Other Debits As of December 31
Current Prior
Service Company Property
101 Service Company Property (Schedule II) $ 248,581 $ 162,382
107 Construction work in progress (Schedule II) 12,259 94,273
--------- ---------
Total Property $ 260,840 $ 256,655
108 Less accumulated provision for depreciation
and amortization of service company property
(Schedule III) 83,313 79,559
--------- ---------
Net Service Company Property $ 177,527 $ 177,096
--------- ---------
Investments
123 Investments in associate companies (Schedule IV) $ -- $ --
124 Other Investments (Schedule IV) 12,233 7,778
--------- ---------
Total Investments $ 12,233 $ 7,778
--------- ---------
Current and Accrued Assets
131 Cash $ -- $ --
134 Special deposits -- --
135 Working funds -- --
136 Temporary cash investments (Schedule IV) -- --
141 Notes receivable -- --
143 Accounts receivable 36,542 40,473
144 Accumulated provision for uncollectible accounts -- --
146 Accounts receivable from associate companies 48,559 87,206
(Schedule V)
152 Fuel stock expenses undistributed (Schedule VI) -- --
154 Materials and supplies -- --
163 Stores expense undistributed (Schedule VII) -- --
165 Prepayments 20,476 26,177
174 Miscellaneous current and accrued assets -- --
(Schedule VIII) -- --
---------
Total Current and Accrued Assets $ 105,577 $ 153,856
--------- ---------
Deferred Debits
181 Unamortized debt expense $ -- $ --
184 Clearing Accounts 478 1,212
186 Miscellaneous deferred debits (Schedule IX) 175 2,134
188 Research, development, or demonstration
expenditures (Schedule X) -- --
190 Accumulated deferred income taxes (2,489) 61,762
--------- ---------
Total Deferred Debits $ (1,836) $ 65,108
--------- ---------
TOTAL ASSETS AND OTHER DEBITS $ 293,501 $ 403,838
========= =========
4
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
Schedule I - Comparative Balance Sheet
(in thousands)
Account Liabilities and Proprietary Capital As of December 31,
Current Prior
Proprietary Capital
201 Common stock issued (Schedule XI) $ -- $ --
211 Miscellaneous paid-in capital (Schedule XI) 11,176 11,176
215 Appropriated retained earnings (Schedule XI) -- --
216 Unappropriated retained earnings (Schedule XI) (320) (2,000)
--------- ---------
Total Proprietary Capital $ 10,856 $ 9,176
--------- ---------
Long-Term Debt
223 Advances from associate companies (Schedule XII) $ -- $ --
224 Other long-term debt (Schedule XII) -- --
225 Unamortized premium on long-term debt -- --
226 Unamortized discount on long-term debt - debit -- --
--------- ---------
Total Long-Term Debt $ -- $ --
--------- ---------
Current and Accrued Liabilities
231 Notes payable $ -- $ --
232 Accounts payable 83,837 94,328
233 Notes payable to associate companies (Schedule XIII) 115,000 77,700
234 Account payable to associate companies 4,021 54,140
(Schedule XIII)
236 Taxes accrued 36,610 (11,744)
237 Interest accrued -- --
238 Dividend declared -- --
241 Tax collections payable 148 (364)
242 Miscellaneous current and accrued liabilities 8,617 15,094
(Schedule XIII)
--------- ---------
Total Current and Accrued Liabilities $ 248,233 $ 229,154
--------- ---------
Deferred Credits
253 Other deferred credits $ 81,784 $ 135,146
254 Accumulated deferred investment tax credits -- --
--------- ---------
Total Deferred Credits $ 81,784 $ 135,146
--------- ---------
282 Accumulated Deferred Income Taxes $ (47,372) $ 30,362
--------- ---------
TOTAL LIABILITIES AND PROPRIETARY
CAPITAL $ 293,501 $ 403,838
========= =========
5
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule II - Service Company Property
(in thousands)
Balance at Retirements Balance
Beginning or Other 1 at Close
Description of Year Additions Sales Changes of Year
Service Company Property
Account
301 Organization $ -- $ -- $ -- $ -- $ --
303 Miscellaneous Intangible Plant -- -- -- -- --
304 Land and Land Rights -- -- -- -- --
305 Structures and Improvements -- -- -- -- --
306 Leasehold Improvements 17,469 -- (407) (1,735) 15,327
307 Equipment2 130,133 109,003 (4,977) (14,145) 220,014
308 Office Furniture and
Equipment 4,075 628 (60) (1,897) 2,746
309 Automobiles, Other Vehicles and
Related Garage Equipment -- -- -- -- --
310 Aircraft and Airport Equipment 9,570 -- -- -- 9,570
311 Other Service Company
Property3 1,135 -- (211) -- 924
--------- --------- --------- ---------
SUB-TOTAL $ 162,382 $ 109,631 $ (5,655) $ (17,777) $ 248,581
107 Construction Work in Progress 1,4 94,273 10,254 -- (92,268) 12,259
--------- --------- --------- --------- ---------
TOTAL $ 256,655 $ 119,885 $ (5,655) $(110,045) $ 260,840
========= ========= ========= ========= =========
1 Provide an explanation of those changes considered material: Construction
work in progress related to the implementation of new accounting software
was placed in service in April of 2004.
2 Subaccounts are required for each class of equipment owned. The service
company shall provide a listing by subaccount of equipment additions during
the year and the balance at the close of the year.
Balance at
Subaccount Description Additions Close of Year
Computer Software $ 88,650 175,638
Computer Equipment 20,353 43,431
Communications Equipment -- 812
Office Machines -- 133
-------- --------
TOTAL $109,003 $220,014
======== ========
3 Describe other service company property: Other service property primarily
consists of graphic arts equipment.
4 Describe construction work in progress: CWIP includes computer software,
computer equipment, leasehold improvements, audiovisual equipment, and
furniture.
6
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule III - Accumulated Provision for Depreciation and Amortization of Service Company Property
(in thousands)
Addit.
Charged Other
Balance at to Changes Balance
Beginning Account Retire- Add at Close
Description of Year 403 ments (Deduct)* of Year
Account
301 Organization $ -- $ -- $ -- $ -- $ --
303 Miscellaneous Intangible Plant -- -- -- -- --
304 Land and Land Rights -- -- -- -- --
305 Structures and Improvements -- -- -- -- --
306 Leasehold Improvements 4,809 1,164 -- (1,734) 4,239
307 Equipment 71,458 23,196 (4,684) (12,293) 77,677
308 Office Furniture and Fixtures 2,049 397 (59) (1,898) 489
309 Automobiles, Other Vehicles and
Related Garage Equipment -- -- -- -- --
310 Aircraft and Airport Equipment 795 287 -- -- 1,082
311 Other Service Company
Property 448 47 -- (669) (174)
-------- -------- -------- -------- --------
TOTAL $ 79,559 $ 25,091 $ (4,743) $(16,594) $ 83,313
======== ======== ======== ======== ========
*Provide an explanation of those changes considered material:
7
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule IV - Investments
(in thousands)
Instructions:
Complete the following schedule concerning investments.
Under Account 124 "Other Investments," state each investment separately, with
description, including, the name of issuing company, number of shares or
principal amount, etc.
Under Account 136, "Temporary Cash Investments," list each investment
separately.
Balance at Balance at
Description Beginning of Year Close of Year
Account 123 - Investment in Associate Companies $ -- $ --
Account 124 - Other Investments
Supplemental Employee Retirement Plan Trust 7,778 12,233
Account 136 - Temporary Cash Investments -- --
------- -------
TOTAL $ 7,778 $23,233
------- -------
8
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule V - Accounts Receivable from Associate Companies
(in thousands)
Instructions:
Complete the following schedule listing accounts receivable from each associate
company. Where the service company has provided accommodation or convenience
payments for associate companies, a separate listing of total payments for each
associate company by subaccount should be provided.
Balance at Balance at
Description Beginning of Year Close of Year
Account 146 - Accounts Receivable from Associate Companies
Adwin Realty Company $ 11 $ 11
All Energy -- 1
AmerGen Energy Company, LLC 1,919 879
ATNP Finance Company -- 3
Commonwealth Edison Company 17,595 12,778
Exelon Boston Generating -- 197
Exelon Communications Company, LLC 6 36
Exelon Communications Holding 176 --
Exelon Corporation 2,606 12,069
Exelon Energy, Inc. 132 --
Exelon Enterprises Company, LLC 2,845 6,313
Exelon Enterprises Investment 3 9
Exelon Enterprises Management, LLC -- 10
Exelon Fore River Develop LLC -- 28
Exelon Generation Company, LLC 14,937 --
Exelon Generation Finance Company -- 5
Exelon Holdings, Inc. 8 --
Exelon Mystic -- 42
Exelon Mystic Development LLC -- 31
Exelon New England Holdings, Inc -- 245
Exelon Power Fossil (formerly Ex Tex LaPorte LP) 69 70
Exelon Services, Inc. 64 332
Unicom Thermal Holding 18 110
F and M Holdings (formerly Exelon Infrastructure Services, Inc.) 111 107
PEC Financial Services, LLC 45 --
PECO Energy Company 46,237 15,246
PECO Energy Power Company 1 --
PECO Energy Transition Trust 264 --
Susquehanna Electric Company 158 37
Susquehanna Power Company 1 --
------- -------
TOTAL $87,206 $48,559
======= =======
9
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule V - Accounts Receivable from Associate Companies - continued
(in thousands)
Analysis of Convenience or Accommodation Payments during 2003:
Amount
Affiliate Paid
All Energy $ 27
Commonwealth Edison Company 17,123
Exelon Communications Company, LLC 2
Exelon Corporation 45
Exelon Energy, Inc. 235
Exelon Enterprises Company, LLC 388
Exelon Enterprises Management, LLC 2
Exelon Fore River Develop LLC 1
Exelon Generation Company, LLC 31,917
Exelon Mystic 73
Exelon Mystic Development LLC 1
Exelon Power Fossil 134
Exelon Services, Inc. 454
Exelon Thermal Holding 52
F and M Holdings 152
PECO Energy Company 132,862
Powerlabs LLC 4
Susquehanna Electric Company 41
Susquehanna Power Company 6
---------
Total Payments $ 183,519
=========
Convenience payments made for:
Account Payables $ 163,277
Corporate Credit Cards 92
Employee Benefits 42,772
Information System Purchases 1,166
NEIL Reimbursement (23,788)
---------
Total Payments $ 183,519
=========
10
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule VI - Fuel Stock Expenses Undistributed
(in thousands)
Instructions:
Report the amount of labor and expenses incurred with respect to fuel stock
expenses during the year and indicate amount attributable to each associate
company. Under the section headed "Summary" listed below give an overall report
of the fuel functions performed by the service company.
Description Labor Expenses Total
Account 152 - Fuel Stock Expenses Undistributed
None.
TOTAL $ -- $ -- $ --
Summary: Not applicable
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule VII - Stores Expense Undistributed
(in thousands)
Instructions:
Report the amount of labor and expenses incurred with respect to stores expense
during the year and indicate amount attributed to each associate company.
Description Labor Expenses Total
Account 163 - Stores Expense Undistributed
None.
TOTAL $ -- $ -- $ --
11
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule VIII - Miscellaneous Current and Accrued Assets
(in thousands)
Instructions:
Provide detail of items in this account. Items less than $10,000 may be grouped,
showing the number of items in each group.
Balance at Balance at
Description Beginning of Year Close of Year
Account 174 - Miscellaneous Current and
Accrued Assets
None.
TOTAL $ -- $ --
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule IX - Miscellaneous Deferred Debits
(in thousands)
Instructions:
Provide detail of items in this account. Items less than $10,000 may be grouped
by class by showing the number of items in each class.
Balance at Balance at
Description Beginning of Year Close of Year
Account 186 - Miscellaneous Deferred Debits
Accounting Subsystem Transactions Pending Distribution $ 1,636 $ 107
Deferred Unearned Compensation 498 68
--------- --------
TOTAL $ 2,134 $ 175
========= ========
12
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule X - Research, Development or Demonstration Expenditures
(in thousands)
Instructions:
Provide a description of each material research, development, or demonstration
project which incurred costs by the service corporation during the year.
Description Amount
Account 188 - Research, Development, or Demonstration Expenditures
None.
TOTAL $ --
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule XI - Proprietary Capital
(in dollars)
Account Class of Number of Shares Par or Stated Outstanding Close of Period
Number Stock Authorized Value per Share No. of Shares Total Amount
201 Common 1,000 $0.01 100 $1.00
Instructions:
Classify amounts in each account with brief explanation, disclosing the general
nature of transactions which give rise to the reported amounts.
(in thousands)
Description Amount
Account 211 - Miscellaneous Paid-In Capital
Beginning Balance $ 11,176
Account 215 - Appropriated Retained Earnings --
--------
--
TOTAL $ 11,176
========
13
Instructions:
Give particulars concerning net income or (loss) during the year, distinguishing
between compensation for the use of capital owed or net loss remaining from
servicing non associates per the General Instructions of the Uniform System of
Accounts. For dividends paid during the year in cash or otherwise, provide rate
percentage, amount of dividend, date declared and date paid.
(in thousands)
Balance at Net Income Dividends Balance at
Description Beginning of Year or (Loss) Paid Close of Year
Account 216 -
Unappropriated Retained Earnings
Net Income (Loss) $(1,378) $ 1,414 $ -- $ 36
Other Comprehensive Income (622) 266 -- (356)
------- ------- -------- -------
TOTAL $(2,000) $ 1,680 $ -- $ (320)
======= ======= ======== =======
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule XII - Long Term Debt
(in thousands)
Instructions:
Advances from associate companies should be reported separately for advances on
notes, and advances on open account. Names of associate companies from which
advances were received shall be shown under the class and series of obligation
column. For Account 224 - Other long-term debt provide the name of creditor
company or organization, terms of the obligation, date of maturity, interest
rate, and the amount authorized and outstanding.
Terms of
Obligation
Class Beginning Balance
Name of & Series Date of Interest Amount at Close
Creditor of Obligation Maturity Rate Authorized Additions Deductions* of Year
Acct 223 -
Advances from
Associate
Companies:
None.
Acct 224 -
Other Long
Term Debt:
None.
TOTAL $ -- $ -- $ -- $ --
*Give an explanation of Deductions:
14
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule XIII - Current and Accrued Liabilities
(in thousands)
Instructions:
Provide balance of notes and accounts payable to each associate company. Give
description and amount of miscellaneous current and accrued liabilities. Items
less than $10,000 may be grouped, showing the number of items in each group.
Balance at Balance at
Description Beginning of Year Close of Year
Account 233 - Notes Payable to Associate Companies
Short - Term Notes Payable to Exelon Corporation
For Working Capital $ 77,700 $115,000
-------- --------
TOTAL $ 77,700 $115,000
======== ========
Account 234 - Accounts Payable to Associate Companies
ATNP Finance Company $ 1 $ --
Commonwealth Edison Company -- --
Exelon Corporation 4,331 --
Exelon Enterprises Company, LLC 486 --
Exelon Energy, Inc. -- 5
Exelon Generation Company, LLC 28,948 3,974
PECO Energy Company 20,368 --
Powerlabs LLC -- 42
Susquehanna Power Company -- --
Unicom Resources 6 --
-------- --------
TOTAL $ 54,140 $ 4,021
======== ========
Account 242 - Miscellaneous Current and Accrued Liabilities
Accrued Vacation Pay/Paid Time Off $ 7,104 $ 8,617
Accrued Incentive Pay 8,000 --
Other
(10) --
-------- --------
TOTAL $ 15,094 $ 8,617
======== ========
15
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule XIV - Notes to Financial Statements
Instructions:
The space below is provided for important notes regarding the financial
statements or any account thereof. Furnish particulars as to any significant
contingent assets or liabilities existing at the end of the year. Notes relating
to financial statements shown elsewhere in this report may be indicated here by
reference.
On October 20, 2000, Exelon Corporation (Exelon), became the parent company for
each of PECO Energy Company (PECO Energy) and Commonwealth Edison Company as a
result of the completion of the transactions contemplated by an Agreement and
Plan of Exchange and Merger, as amended, among PECO, Unicom Corporation and
Exelon. Exelon is a Pennsylvania corporation and registered holding company
under the Public Utility Holding Company Act of 1935.
In January, 2001, Exelon restructured its regulated and unregulated companies.
Assets and liabilities were transferred from PECO Energy and Commonwealth Edison
Company to generation (Exelon Generation Company, LLC), and unregulated
companies (primarily, Exelon Enterprises Company, LLC) and the Exelon Business
Services Company, as appropriate.
Exelon Business Services Company is a wholly-owned subsidiary of Exelon and is
the service company for the Exelon system providing associate companies with a
variety of administrative, management and support services. These services are
provided at cost that results in Exelon Business Services Company operating on a
break-even basis.
Exelon Business Services Company follows the Uniform System of Accounts
prescribed by the Securities and Exchange Commission. The financial statements
are prepared in conformity with generally accepted accounting principles, which
requires the use of estimates. The actual results may differ from those
estimates.
16
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule XV - Statement of Income
(in thousands)
Account Description Current Year Prior Year
Income
457 Services rendered to associate companies $408,188 $413,082
458 Services rendered to non associate companies 119 296
421 Miscellaneous income or loss (2,801) 1,070
--------- ---------
Total Income $405,506 $414,448
--------- ---------
Expense
920 Salaries and wages $145,777 $140,709
921 Office supplies and expenses 32,445 30,962
922 Administrative expense transferred - credit -- --
923 Outside services employed 109,611 124,048
924 Property insurance 15,663 28,438
925 Injuries and damages (243) 206
926 Employee pensions and benefits 35,784 22,256
927 Regulatory commission expense 16 --
930.1 General advertising expense 2,706 4,766
930.2 Miscellaneous general expense 3,284 8,408
931 Rents 13,268 12,547
932 Maintenance of structures and equipment -- 1,039
403 Depreciation and amortization expense 25,078 30,355
408 Taxes other than income taxes 7,490 6,919
409 Income taxes 20,895 (45,492)
410 Provision for deferred income taxes (14,419) 44,253
411 Provision for deferred income taxes - credit -- --
411.5 Investment tax credit -- --
426.1 Donations 3,359 4,277
426.5 Other deductions 1,702 3,916
427 Interest on long-term debt -- --
430 Interest on debt to associate companies 1,495 1,242
431 Other interest expense 181 (2,773)
--------- ---------
Total Expense $ 404,092 $ 416,076
--------- ---------
Net Income or (Loss) $ 1,414 $ (1,628)
========= =========
17
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Analysis of Billing Associate Companies - Account 457
(in thousands)
Direct Indirect Compensation Total
Name of Costs Costs For Use Amount
Associate Company Charged Charged of Capital Billed
457-1 457-2 457-3
All Energy $ 31 $ $ $ 31
AmerGen Energy Company 4,158 (149) 20 4,029
ATNP Finance Company 9 9
Commonwealth Edison Company 76,136 49,748 503 126,387
Exelon Boston Generating 516 516
Exelon Communications Company, LLC 158 158
Exelon Corporation 13,562 22,994 1 36,557
Exelon Energy, Inc. 551 551
Exelon Enterprises Company, LLC (1,253) 40,444 166 39,357
Exelon Enterprises Investment 30 30
Exelon Enterprises Management, LLC 95 95
Exelon Fore River Develop LLC 67 67
Exelon Generation Company, LLC 52,398 81,550 497 134,445
Exelon Generation Finance Company 16 16
Exelon Mystic LLC 83 83
Exelon Mystic Development LLC 61 61
Exelon New Boston, LLC 41 41
Exelon New England Holdings, Inc 1,536 1,536
Exelon New England Power Services 2 2
Exelon Power Fossil 703 703
Exelon Services, Inc. 268 268
Exelon Thermal Holding 511 511
Exelon West Medway, LLC 7 7
InfraSource 620 620
PECO Energy Company 35,019 26,496 158 61,673
Powerlabs LLC 185 185
Susquehanna Electric Company 250 250
--------- --------- --------- ---------
TOTAL $ 185,760 $ 221,083 $ 1,345 $ 408,188
========= ========= ========= =========
18
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Analysis of Billing Non Associate Companies - Account 458
(in thousands)
Instruction:
Provide a brief description of the services rendered to each non associate
company:
Name Direct Indirect Compens. Excess Total
Non Associate Cost Cost For Use Total or Amount
Company Charged Charged of Capital Cost Deficiency Billed
458-1 458-2 458-3 458-4
Administrative Services
Employee Benefit
Trusts $119 $ -- $ -- $ 119 $ -- $119
---------- ---------- ---------- ---------- ---------- ----------
TOTAL $119 $ -- $ -- $ 119 $ -- $119
========== ========== ========== ========== ========== ==========
19
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule XVI - Analysis of Charges for Service Associate and Non Associate Companies
(in thousands)
Instruction:
Total cost of service will equal for associate and non associate companies the
total amount billed under their separate analysis of billing schedules.
Associate Company Non Associate Company
Charges Charges
Description Direct Indirect Direct Indirect
Account of Items Cost Cost Total Cost Cost Total
920 Salaries & Wages $ 76,784 $ 68,944 $ 145,728 $ 49 $ -- $ 49
921 Office Supplies
and Expenses 17,089 15,345 32,434 11 -- 11
922 Administrative
Expense
Transferred-Credit -- -- -- -- -- --
923 Outside Services
Employed 57,735 51,839 109,574 37 -- 37
924 Property Insurance -- 15,663 15,663 -- -- --
925 Injuries and Damages (128) (115) (243) -- -- --
926 Employee Pensions
and Benefits 18,848 16,924 35,772 12 -- 12
928 Regulatory Commission
Expense 8 8 16 -- -- --
930.1 General Advertising
Expense -- 2,706 2,706 -- -- --
930.2 Miscellaneous General
Expense 1,730 1,553 3,283 1 -- 1
931 Rents 6,989 6,275 13,264 4 -- 4
932 Maintenance of
Structures and
Equipment -- -- -- -- -- --
403 Depreciation and
Amortization Expense -- 25,078 25,078 -- -- --
408 Taxes Other Than
Income Taxes 3,945 3,542 7,487 3 -- 3
409 Income Taxes -- 20,895 20,895 -- -- --
410 Provision for Deferred
Income Taxes -- (14,419) (14,419) -- -- --
411 Provision for Deferred
Income Taxes - Credit -- -- -- -- -- --
411.5 Investment Tax Credit -- -- -- -- -- --
426.1 Donations 1,769 1,589 3,358 1 -- 1
426.5 Other Deductions 896 805 1,701 1 -- 1
427 Interest on Long-Term
Debt -- -- -- -- -- --
431 Other Interest Expense 95 86 181 -- -- --
--------- --------- --------- --------- --------- ----------
TOTAL EXPENSE $ 185,760 $ 216,718 $ 402,478 $ 119 $ -- $ 119
20
Associate Company Non Associate Company
Charges Charges
Description Direct Indirect Direct Indirect
Account of Items Cost Cost Total Cost Cost Total
Compensation for Use of Equity Capital
430 Interest on Debt to
Associate Companies
-- 1,495 1,495 -- -- --
-------- -------- -------- -------- ---------- -----------
TOTAL COST OF
SERVICE $185,760 $218,213 $403,973 $ 119 $ -- $ 119
======== ======== ======== ======== ========== ===========
21
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule XVI - Analysis of Charges for Service Associate and Non Associate
Companies - continued (in thousands) Instruction:
Total cost of service will equal for associate and non associate companies the
total amount billed under their separate analysis of billing schedules.
Total Charges for Services
Description Direct Indirect
Account of Items Cost Cost Total
920 Salaries & Wages $ 76,833 $ 68,944 $ 145,777
921 Office Supplies
and Expenses 17,100 15,345 32,445
922 Administrative
Expense
Transferred-Credit -- -- --
923 Outside Services
Employed 57,772 51,839 109,611
924 Property Insurance -- 15,663 15,663
925 Injuries and Damages (128) (115) (243)
926 Employee Pensions
and Benefits 18,860 16,924 35,784
928 Regulatory Commission
Expense 8 8 16
930.1 General Advertising
Expense -- 2,706 2,706
930.2 Miscellaneous General
Expense 1,731 1,553 3,284
931 Rents 6,993 6,275 13,268
932 Maintenance of
Structures and
Equipment -- -- --
403 Depreciation and
Amortization Expense -- 25,078 25,078
408 Taxes Other Than
Income Taxes 3,948 3,542 7,490
409 Income Taxes -- 20,895 20,895
410 Provision for Deferred
Income Taxes -- (14,419) (14,419)
411 Provision for Deferred
Income Taxes - Credit -- -- --
411.5 Investment Tax Credit -- -- --
426.1 Donations 1,770 1,589 3,359
426.5 Other Deductions 897 805 1,702
427 Interest on Long-Term
Debt -- -- --
431 Other Interest Expense 95 86 181
--------- --------- ---------
TOTAL EXPENSE $ 185,879 $ 216,718 $ 402,597
22
Total Charges for Services
Description Direct Indirect
Account of Items Cost Cost Total
Compensation for Use of Equity Capital
430 Interest on Debt to Associate Companies
-- 1,495 1,495
--------- --------- ---------
TOTAL COST OF
SERVICE $ 185,879 $218,213 $404,092
========= ========= =========
23
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule XVII - Schedule of Expense Distribution by Department or Service
Function (in thousands)
DEPARTMENT OR SERVICE FUNCTION
Corporate Center
----------------------------------------------------------------
Description Total Human Finance &
Account of Items Amount Overhead Executive Planning Resources Accounting
920 Salaries and Wages $ 145,777 $ 9,506 $ 9,869 $ 3,940 $ 5,988 $ 16,164
921 Office Supplies and
Expenses 32,445 601 1,844 1,714 1,010 3,636
922 Administrative
Expense Transferred
-Credit -- -- -- -- -- --
923 Outside Services
Employed 109,611 1,551 596 12,493 3,234 13,067
924 Property Insurance 15,663 624 -- -- -- 15,039
925 Injuries and Damages (243) -- -- -- 12 --
926 Employee Pensions
and Benefits 35,784 4,757 1,561 852 1,148 3,682
928 Regulatory
Commission
Expense 16 -- -- -- 10 --
930.1 General Advertising
Expense 2,706 -- 176 -- 21 7
930.2 Miscellaneous
General Expense 3,284 15 -- -- 73 170
931 Rents 13,268 37 333 405 309 1,320
932 Maintenance of
Structures and
Equipment -- -- -- -- -- --
403 Depreciation and
Amortization
Expense 25,078 14,348 -- -- -- 731
408 Taxes Other Than
Income Taxes 7,490 850 227 138 633 543
409 Income Taxes 20,895 20,841 -- -- -- --
410 Provision for Deferred
Income Taxes (14,419) -- -- -- -- --
411 Provision for Deferred
Income Taxes - Cr -- -- -- -- -- --
411.5 Investment Tax Credit -- -- -- -- -- --
426.1 Donations 3,359 -- 36 -- 117 30
426.5 Other Deductions 1,702 -- -- -- -- 211
427 Interest on Long-Term
Debt -- -- -- -- -- --
430 Interest on Debt to
Associate Companies 1,495 498 -- -- -- --
431 Other Interest Expense 181 (464) -- -- 53 --
--------- --------- --------- --------- --------- ---------
TOTAL EXPENSES $ 404,092 $ 53,164 $ 14,642 $ 19,542 $ 12,608 $ 54,600
========= ========= ========= ========= ========= =========
24
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule XVII - Schedule of Expense Distribution by Department or Service
Function - continued (in thousands)
DEPARTMENT OR SERVICE FUNCTION
Corporate Center
------------------------------------------------------------------
Description Internal Public Environ- Govern Investor
Account of Items Audit Affairs mental Affairs Legal Relations
920 Salaries and Wages $ 2,804 $ 1,222 $ 936 $ 2,457 $ 2,925 $ 711
921 Office Supplies and
Expenses 454 879 227 826 1,996 177
922 Administrative
Expense Transferred
-Credit -- -- -- -- -- --
923 Outside Services
Employed 1,103 138 435 121 2,588 1,584
924 Property Insurance -- -- -- -- -- --
925 Injuries and Damages -- -- -- -- 1 --
926 Employee Pensions
and Benefits 783 302 210 329 530 185
928 Regulatory
Commission
Expense -- -- -- -- 2 --
930.1 General Advertising
Expense -- 2,431 -- 6 1 5
930.2 Miscellaneous
General
Expense -- 951 -- 330 2,134 --
931 Rents 432 137 48 586 199 95
932 Maintenance of
Structures and
Equipment -- -- -- -- -- --
403 Depreciation and
Amortization
Expense -- -- -- -- -- --
408 Taxes Other Than
Income Taxes 96 39 36 63 71 23
409 Income Taxes -- -- -- -- -- --
410 Provision for Deferred
Income Taxes -- -- -- -- -- --
411 Provision for Deferred
Income Taxes - Cr -- -- -- -- -- --
411.5 Investment Tax Credit -- -- -- -- -- --
426.1 Donations 1 3,127 -- 23 -- --
426.5 Other Deductions -- 111 -- 954 -- 308
427 Interest on Long-Term
Debt -- -- -- -- -- --
430 Interest on Debt to
Associate Companies -- -- -- -- -- --
431 Other Interest Expense -- -- -- -- 386 --
------- ------- ------- ------- ------- -------
TOTAL EXPENSES $ 5,673 $ 9,337 $ 1,892 $ 5,695 $10,833 $ 3,088
======= ======= ======= ======= ======= =======
25
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule XVII - Schedule of Expense Distribution by Department or Service
Function - continued
(in thousands)
DEPARTMENT OR SERVICE FUNCTION
Corp Cntr EDSS Business Services Company (BSC)
--------- ---- ---------------------------------
Description Human Financial
Account of Items Security Executive Overhead Resources Services Legal
920 Salaries and Wages $ 1,709 $ 8,058 $ 27,233 $ 5,289 $ 4,299 $ 12,685
921 Office Supplies and
Expenses 220 1,349 (31,532) 2,764 1,706 3,315
922 Administrative
Expense Transferred
-Credit -- -- -- -- -- --
923 Outside Services
Employed 78 475 4,414 4,541 484 932
924 Property Insurance -- -- -- -- -- --
925 Injuries and Damages -- -- 56 (16) (30) (27)
926 Employee Pensions
and Benefits 421 421 9,090 1,169 696 2,415
928 Regulatory
Commission
Expense -- -- -- -- -- --
930.1 General Advertising
Expense -- 1 39 6 -- --
930.2 Miscellaneous
General
Expense -- -- (465) 40 -- --
931 Rents -- -- 244 830 480 1,295
932 Maintenance of
Structures and
Equipment -- -- -- -- -- --
403 Depreciation and
Amortization
Expense -- -- 923 1,195 1,050 847
408 Taxes Other Than
Income Taxes 58 50 1,870 250 218 619
409 Income Taxes -- 32 22 -- -- --
410 Provision for Deferred
Income Taxes -- -- (14,419) -- -- --
411 Provision for Deferred
Income Taxes - Cr -- -- -- -- -- --
411.5 Investment Tax Credit -- -- -- -- -- --
426.1 Donations -- -- 6 -- -- --
426.5 Other Deductions -- 4 98 -- 16 --
427 Interest on Long-Term
Debt -- -- -- -- -- --
430 Interest on Debt to
Associate Companies -- -- 997 -- -- --
431 Other Interest Expense -- 61 145 -- -- --
-------- -------- -------- -------- -------- --------
TOTAL EXPENSES $ 2,486 $ 10,451 $ (1,279) $ 16,068 $ 8,919 $ 22,081
======== ======== ======== ======== ======== ========
26
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule XVII - Schedule of Expense Distribution by Department or Service
Function - continued (in thousands)
DEPARTMENT OR SERVICE FUNCTION
Business Services Company (BSC)
Description Audio
Account of Items Supply IT Visual
920
921 Salaries and Wages $ 1,172 $ 26,249 $ 2,561
Office Supplies and
922 Expenses 757 40,446 56
Administrative
Expense Transferred
923 -Credit -- -- --
Outside Services
924 Employed 5,921 55,624 232
925 Property Insurance -- -- --
926 Injuries and Damages (5) (230) (4)
Employee Pensions
928 and Benefits 182 6,919 132
Regulatory
Commission
930.1 Expense -- -- 4
General Advertising
930.2 Expense 13 -- --
Miscellaneous
General
931 Expense (3) 39 --
932 Rents 120 6,341 57
Maintenance of
Structures and
403 Equipment -- -- --
Depreciation and
Amortization
408 Expense 136 5,778 70
Taxes Other Than
409 Income Taxes 59 1,604 43
410 Income Taxes -- -- --
Provision for Deferred
411 Income Taxes -- -- --
Provision for Deferred
411.5 Income Taxes - Cr -- -- --
426.1 Investment Tax Credit -- -- --
426.5 Donations 8 11
427 Other Deductions -- -- --
Interest on Long-Term
430 Debt -- -- --
Interest on Debt to
431 Associate Companies -- -- --
Other Interest Expense -- -- --
--------- --------- ---------
TOTAL EXPENSES $ 8,360 $ 142,781 $ 3,151
========= ========= =========
27
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Departmental Analysis of Salaries - Account 920
(in thousands)
Departmental Salary Expense
Name of Department Included in Amounts Billed to
----------------------------- Number of
Indicate each department Total Parent Other Non Personnel
Or service function Amount Company Associates Associates End of Year
Corporate Center
Overhead $ 9,506 $ 242 $ 9,264 $ -- --
Executive 9,869 459 9,410 -- 24
Planning 3,940 1,758 2,182 -- 24
Human Resources 5,988 231 5,757 -- 18
Finance and Accounting 16,164 398 15,766 -- 136
Internal Audit 2,804 70 2,734 -- 26
Communications & Public Affairs 1,222 31 1,191 -- 9
Environmental 936 23 913 -- 8
Governmental Affairs 2,457 1,200 1,257 -- 10
Legal 2,925 76 2,849 -- 11
Investor Relations 711 18 693 -- 5
Security 1,709 40 1,669 -- 16
Energy Delivery Shared Services 8,058 -- 8,058 -- 8
Business Services Company
Overhead 27,233 -- 27,233 -- 24
Human Resources 5,289 -- 5,170 119 47
Financial 4,299 -- 4,299 -- 59
Legal 12,685 -- 12,685 -- 116
Supply Management 1,172 -- 1,172 -- 16
Information Technology 26,249 -- 26,249 -- 301
Audio Visual 2,561 -- 2,561 -- 12
-------- -------- -------- -------- --------
TOTAL $145,777 $ 4,546 $141,112 $ 119 870
======== ======== ======== ======== ========
28
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923
(in thousands)
Instructions:
Provide a breakdown by subaccount of outside services employed. If the aggregate
amounts paid to any one payee and included within one subaccount is less than
$25,000, only the aggregate number and amount of all such payments included
within the subaccount need to be shown. Provide a subtotal for each type of
service.
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Audit Services
Enfusion Technologies 6 Brian Hill Road N $ 29
Montclair NJ 07042
Ernst & Young LLP P.O. BOX 96907 N 686
Chicago, IL 60693
PricewaterhouseCoopers LLP 2400 Eleven Penn Center N 5,524
Philadelphia PA 19103-2962
Protiviti Inc. 120 S. LaSalle N 310
Chicago, IL 60603
Other (7 vendors) 86
---------
$ 6,635
---------
Audio Visual Services
Applied Video Technology The Shops at the Great Valley N $ 61
Malvern PA 19355
Central Camera Company 230 S Wabash Avenue N 82
Chicago, IL 60604
Roscor Corporation 1061 Feehanville N 56
Mt Prospect IL 60056
Other (19 vendors) N 50
---------
$ 249
---------
Benefit Administration
PMA Group 380 Sentry Parkway N $ 191
Blue Bell PA 19422-2328
Other (4 vendors) 64
---------
$ 255
---------
Conference Centers
Marriott International P.O. BOX 402642 N $ 186
Atlanta, GA 30384-2652
Mendenhall Inn Hotel & Conference N 59
Mendenhall PA 19357
Oakbrook Hills Hotel and Resort 3500 Midwest Road N 55
Oak Brook IL 60521
Sea Island POB 30351 N 88
Sea Island GA 31561
29
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Conference Centers - continued
Wyndham/Drake Hotel 2301 York Road N 63
Oak Brook, IL 60523
Other (2 vendors) 39
---------
$ 490
---------
Corporate Aircraft Management
NetJets, Inc. P.O. BOX 631196 N $ 2,450
Cincinnati, OH 45263-1196625 ---------
Corporate Planning Consulting
A.T. Kearney P. O. BOX 96796 N $ 5,552
Chicago, IL 60693
Accenture, LLP 100 S Wacker Dr N 734
Chicago IL 60606
Ayco Company POB 3182 N 108
Buffalo NY 14240
Breckenridge Partners 1200 Shermer Road N 184
Northbrook IL 60062
Cambridge Energy Research Assoc. 20 University Road N 35
Cambridge MA 02138
Charles River Associates D-139 N 769
Boston, MA 02241- 3139
Deloitte Consulting File East PO Box 29490 N 2,750
New York NY 10087-9490
The Hackett Group 11 Highland Drive N 175
Kingston MA 02364
Heidrick & Struggles POB 92227 N 204
Chicago IL 60675
Lehman Brothers 200 Vesey N 1,000
New York NY 10285
The McAulay Firm 100 North Tryon Street N 170
Charlotte, NC 28202
Mercer Management Consulting 200 Clarenden St N 56
Boston MA 02116
Moore Wallace North America Inc N 31
National Economic Research POB 29677 N 211
Association New York NY 10087
The Northbridge Group 55 Old Bedford Rd N 2,212
Lincoln MA 01773
Right Management Consultants 401 Plymouth Road N 129
Plymouth Meeting PA 19462
Robertson Lowstuter, Inc. 2201 Waukegan Rd N 31
Bannockburn IL 60015
Scott Madden Associates 2626 Glenwood Ave, Ste 480 N 915
Raleigh, NC 27608
30
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Corporate Planning Consulting - continued
Sullivan & Associates 200 East Chicago Avenue N 42
Westmont IL 60559
Other (23 vendors) N 159
---------
$ 15,467
---------
Employee Contracting
Advanced Personnel 1901 Butterfield Road N $ 59
Downers Grove, IL 60515
Klatt Temporary 123 West Madison N 50
Chicago, IL 60602
Manpower Services 2301 Market Street N 494
Philadelphia, PA 19103
Onsite Energy Services 7301 Parkway Dr N 376
Hanover MD 21076
Resource Connection File # 55221 N 1,934
Los Angeles CA 90074-5221
RHR International Company 220 Gerry Dr N 730
Wood Dale IL 60191
Other (9 vendors) 91
---------
$ 3,734
---------
Employee Relocation
National Equity, Inc. 8701 W. Dodge Road N 950
Omaha NE 68114
---------
$ 950
---------
Employee Search
Gregory Michaels & Associates 804 N Dearborn St N $ 55
Chicago IL 60610
ITEX Executive Search, Inc. 3601 Algonquin Road N 35
Rolling Meadows IL 60008
Lucas Group POB 406672 N 30
Atlanta GA 30384
Spherion Corporation 823 Commerce Drive N 181
Oak Brook IL 60521
Venator Consulting Group 888 W. Big Beaver N 46
Troy MI 48084
Other (4 vendors) N 24
---------
$ 371
---------
31
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Environmental Affairs Consulting
Five Winds International LP N $ 61
Parker & Associates 14661 S. Harrel's Ferry Road N 186
Baton Rouge LA 70816
URS Corporation 112 S. Michigan Ave N 86
Chicago, IL 60603
Other (5 vendors) 56
---------
$ 389
---------
Financial Analysis 1500 Market St
Towers Perrin Forester & Crosby Philadelphia PA 19102 N $ 2,349
Parson Consulting 333 West Wacker Dr. N 30
Chicago IL 60606
Other (1 vendors) N 12
---------
$ 2,391
---------
Financial Ratings Agency
Fitch IBCA, Inc. P.O. BOX 96663 N $ 83
Chicago, IL 60693-6663
Moody's Investors P.O. BOX 102597 N 91
Atlanta, GA 30368-0597
Standard & Poor's PO Box 80-2542 N 419
Chicago IL 60680
Other (3 vendors) N 30
---------
$ 623
---------
Financing
Andrew Kalotay & Associates 61 Broadway N $ 37
New York, NY 10006
Dresder, Kleinwort, 1301 Avenue of the Americas N 4,198
Wasserstein, Inc. New York, NY 10019
Mayer, Brown, Rowe & Maw 190 S LaSalle St N 76
Chicago IL 60603
Other (2 vendors) 3
---------
$ 4,314
---------
Human Resources Management Consulting
The Cabot Advisory Group 90 Washington Valley Road N $ 304
Bedminster NJ 07921
Caras & Associates, Inc. N 40
Career Concepts Inc. 140 West Germantown Pike N 28
Plymouth Meeting PA 19462
Council for Adult & Experimental 55 E. Monroe N 108
Learning Chicago IL 60603
David L. Glueck, Inc. 2041 N. Howe St. N 25
Chicago IL 60614
32
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Human Resources Management Consulting - continued
Diversity Best Practices 1990 M Street N 91
Washington DC 20036
The Leader's Edge Two Bala Plaza N 25
Bala Cynwyd, PA 19004
Mullin Consulting, Inc. 644 South Figueroa Street N 218
Los Angeles, CA 90017
Pilat HR Solution 496 Route 22 West N 98
Lebanon, NJ 08833
Souder, Betances & Associates 5448 North Kimball N 26
Chicago, IL 60625
Watson Wyatt & Company 1079 Solutions Center N 40
Chicago IL 60677
Other (44 vendors) N 234
---------
$ 1,237
---------
Informational Technology
Acquity Consulting 311 Wacker Drive N $ 49
Chicago IL 60606
Act-1 Technical Services 1500 Market St N 189
Philadelphia PA 19102
Adesta Communications 801 Forestwood Drive N 33
Romeoville IL 60446
Advanced Software Products 3185 Horseshoe Drive South N 48
Naples, FL 34104-6138
Aelita Software Inc. 6500 Emerald Parkway N 40
Dublin OH 43016
Aerotek, Inc. 7301 Parkway Drive N 239
Hanover MD 21076
Ajilon LLC 210 W Pensylvannia Ave N 301
Towson MD 21204
ALCAR Group, Inc. 5215 Old Orchard Rd N 101
Skokie IL 60077
Aldridge Electric Co. 28572 Bradley Rd. N 794
Libertyville IL 60048
Alternative Resources Corp. 1240 S. Broad St N 111
Lansdale PA 19446
Ameritech Paging 2000 W Ameritech Center Dr. N 125
Hoffman Estates IL 60195
Anacomp, Inc. 7905 Browning Rd N 34
Pennsauken NJ 08109
Analysis Group Economics One Brattle Square N 44
Cambridge MA 02138
Anixter, Inc. 1471 Business Center Dr. N 162
Mt Prospect IL 60056
Answerthink PO Box 116525 N 861
Atlanta, GA 30368
33
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Information Technology - continued
AT&T 655 Wise Road N 2,203
Schaumburg IL 60173
AT&T Wireless Service N 113
Avaya Communication 2300 Cabot Drive N 149
Lisle IL 60532
Bindview Development Corp 5151 San Felipe N 248
Houston TX 77056
Black Box Corporation 1000 Park Dr N 769
Lawrence PA 15055
The Blackstone Group 360 North Michigan Avenue N 33
Chicago, IL 60601
Bloomberg PO Box 30244 N 75
Hartford CT 06150
BMC Software Distribution Inc. 2101 City West Blvd N 121
Houston TX 77042
Business Objects 3030 Orchard Parkway N 88
San Jose CA 95134
CA Business Partners 125 E Lake St N 901
Bloomingdale IL 60108
Candle Corporation POB 99974 N 190
Chicago IL 60696
CDB Software Inc POBox 420789 N 40
Houston TX 77242
Check Free Corporation 25 Crossroads Dr N 31
Owings Mill MD 21117
Chicago Soft Ltd. 6232 N Pulaski N 31
Chicago IL 60646
Cincinnati Bell Technology 1507 Solutions Center N 58
Chicago IL 60677
Citrix Systems, Inc. 851 W Cypress Creek Road N 66
Fort Lauderdale FL 33309
Cognos Corporation 67 S. Bedford Street N 37
Burlington MA 01803
Computer Assoc International Inc 2400 Cabot Dr N 75
Lisle IL 60532
Computer Workshop, Inc 1020 31st St N 46
Downers Grove IL 60515
Compuware Corporation 2 Pierce Plaza N 51
Itasca IL 60143
Corporate PC Source 1134 Tower Lane N 280
Bensenville IL 60106
CT Corp System POB 4349 N 27
Carol Stream IL 60197
Curtis Howland Company 872 S Milwaukee Ave N 347
Libertyville, IL 60048-4327
34
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Information Technology - continued
Cybermation Inc 80 Tiverton Ct N 48
Markham ON L3ROG
Delta Solutions 4 Parkway North N 175
Deerfield IL 60015
DHS & Associates O'Hare International Plaza N 77
10255 W. Higgins Rd
Rosemont, IL 60018
Digex, Inc. P.O. BOX 631763 N 268
Baltimore, MD 21263-1763
Ecora Corporation 500 Spaulding Turnpike N 121
Portsmouth NH 03802
EMC Corp 171 South St. N 31
Hopkinton MA 01748
Environmental Systems Design 175 W. Jackson N 70
Chicago IL 60603
Flashmap Systems, Inc. 41 Marcellus Drive N 25
Newton MA 02459
Fortegra, Inc. 212 Longhill Road N 127
Goode VA 24556
Fujitsu Technology Solutions 1250 E Arques Ave N 40
Sunnyvale CA 94088
Fusion Technology 1332 Laurie Lane N 569
Burr Ridge IL 60521
Gartner Group 56 Top Gallant Rd N 167
Stamford CT 06904
Genuity 120 S LaSalle St N 179
Chicago IL 60603
Global Integrity Corporation 19 West 44th St N 38
New York NY 10036
H & W Computer Systems 6154 N Meeker Pl N 32
Boise ID 83713
Hewlett-Packard Company 8000 Foothills Blvd N 104
Roseville CA 95747
Hi-Tech Solutions Two Mid America Plaza N 1,123
Oakbrook Terrace IL 60181
Hitachi Data Systems Two Prudential Plaza N 202
Chicago IL 60693
Hummingbird PO BOX 8500- 3885 N 37
Philadelphia, PA 19178- 3885
IBM Corporation 2005 Market St N 30,202
Philadelphia PA 19103-7099
IBM Global Services 455 Park Place N 552
Lexington KY 40511
Inacom Information System N 68
35
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Information Technology - continued
Indus International 60 Spear St N 236
San Francisco CA 94120
Information Builders, Inc 3010 Highland Parkway N 43
Downers Grove IL 60515
Insource Partners 3940 N. Janssen Ave. N 649
Chicago, IL. 60613
Interactive Business Systems Inc 118 S Clinton N 290
Chicago IL 60661
International Network Services N 29
Interwoven 803 11th Avenue N 44
Sunnyvale CA 94089
Jefferson Wells International, Inc. 1600 Market St., Suite 1700 N 237
Philadelphia, PA 19103
Judge Group Two Bala Plaza N 107
Bala Cynwyd PA 19004-1510
Learning Tree International 1831 Michael Faraday Dr. N 39
Reston VA 20190
Lexisnexis 211 Crossington Lane N 107
Troy IL 62294
Longview of America 1974 Sproul Road N 84
Broomall PA 19008
Lowry Technologies 1717 Logan Avenue South N 62
Minneapolis, MN 55403
Maragret Ruddy N 34
Megasys Computer 6815 8TH Street N.E. N 137
Calgary, AB T2E7H7
Meta Group, Inc. P.O. BOX 19114 N 79
Newark, NJ 07195-0114
Microsoft 7100 Valley View Lane N 365
Irving TX 75039
Microsoft Consulting Services 3025 Highland Parkway N 39
Downers Grove IL 60515
Microsoft Licensing, GP N 219
Motorola Inc. 1000 Mittel Drive N 113
Wood Dale IL 60191
NetIQ Corporation 3553 N First St. N 56
San Jose CA 95134
Neon Systems, Inc. 14100 Southwest Freeway N 36
Sugar Land TX 77478
Netegrity 201 Jones Road N 57
Waltham MA 02451
Netpro Computing, Inc 7150 E Camel Back Rd. N 35
Scottsdale, AZ 85251
36
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Information Technology - continued
Nextira-One, LLC 470 Lapp Rd N 557
Malvern PA 19355-1212
Northern Consulting Associates 931 W 75th Street N 40
Naperville IL 60565
OC Tanner 1930 South State Street N 27
Salt Lake City UT 84115
OAO Services, Inc. 2222 East NC Hwy 54 N 174
Greenbelt MD 20770
Oracle 500 Oracle Parkway N 285
Red Shores CA 94065
Peoplesoft USA 4460 Hacienda Dr N (589)
Pleasanton CA 94588
Perficient, Inc 1019 School St. N 213
Lisle, IL 60532
Peters & Associates, Inc 909 S Route 83 N 101
Elmhurst IL 60126
Power Plan Consultants Inc 1600 Parkwood Circle N 286
Atlanta GA 30339
Predictive Systems, Inc. 19 West 44th Street N 133
New York NY 10036
PRG - Schultz USA P.O. Box 100101 N 35
Atlanta, GA 30384-0101
Primavera Systems, Inc. Two Bala Plaza N 79
Huntingdun PA 19006
Programming Plus 3172 Friedens Lane N 36
Center Valley PA 18034
Proquire Plus 133 Peachtree St N 80
Atlanta Georgia 30303
Public Utilities Maintenance 8229 Boone Blvd., Suite 401 N 28
Vienna, VA 22182-9919
Quantum Crossings, LLC 455 N. Cityfront Plaza Dr. N 184
Chicago, IL 60611
Quest Software 8001 Irvine Center Drive N 28
Irvine CA 92618
Recall Total Infromational Mmgmt N 227
Schaumberg IL 60173
Reed Elsevier Inc PO Box 2314 N 39
Carol Stream IL 60132
The Research Board POB 911929 N 32
Dallas TX 75391
SAS Institute Two Prudential Plaza N 145
Chicago IL 60601
SBC Global Markets 225 West Randolph, Suite 6A N 4,395
Chicago, IL 60606
Scientel LLC 1007 Oak Creek Dr N 98
Lombard IL 60148
37
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Information Technology - continued
Serena Software 500 Airport Boulevard N 26
Burlingame CA 94010
Siemens Info & Comm Network, Inc 1701 Golf Rd N 45
Rollings Meadows IL 60008
Softmart Inc. 450 Acorn Lane N 857
Dowingtown PA 19335
Software Consulting Group 1400 North Providence Rd N 114
Media PA 19063
Source One Technology Services 5950 County Line Road N 48
Burr Ridge IL 60521
Spaan Technology, Inc. 850 West Jackson, Suite 250 N 110
Chicago, IL 60607
SPR 135 S. LaSalle ST., Dpt 6492 N 47
Chicago, IL 60674-6492
Storage Technology Corporation 10 S Wacker Dr N 336
Chicago IL 60606
Storage Tek Financial 1401 Pearl St N 346
Services Group Boulder CO 80302
Strohl Systems 631 Park Avenue N 36
King of Prussia, PA 19406
Subject, Willis & Company 1420 Kingston Road N 55
Oak Brook IL 60523
Sungard Recovery Services 1285 Drummers Lane N 784
Wayne, PA 19087
Symmetricom POB 14766 N 29
Austin TX 78761
System Management Arts 14 Mamaroneck Ave N 25
White Plains NY 10601
Tek Systems, Inc. 1400 Opus Place N 425
Downers Grove IL 60515
Teladjust Inc. N 84
Trademux LLC 14 N. Deer Place N 74
Hainesport NJ 08036
Tri-Comp Consulting 4600 Maple CL. N 30
Brookfield IL 60513
UUNet Technologies 3110 Fairview Park Drive N 44
Falls Church VA 22042
Vantage Moca N 160
XO Communication 1220 Broadcasting Road N 52
Wyomissing PA 19610
XRT-Cerg America, Inc 1150 First Avenue N 94
King of Prussia PA 19406
Other (169 vendors) N 90
---------
$ 57,006
---------
38
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Investor Relations
Shareholder.com 12 Clock Tower Place N 32
Maynard, MA 01754
Thomson Financial 7271 Collection Center Dr N 33
Chicago IL 60693
Other (3 vendors) N 10
---------
$ 75
---------
Legal
Affiliates POB 6248 N $ 40
Carol Stream IL 60197
Baker Botts LLP Attorneys at Law N 51
Washington DC 20004
Ballard Spahr Andrews & Ingersoll 1735 Market St N 390
Philadelphia PA 19103-7599
Blank Rome Comisky & McCauley Counselors at Law N 44
Philadelphia PA 19103
Chadbourne & Parke, LLP 1200 New Hampshire Avenue N 320
Washington DC 20036
Foley & Larder 321 North Clark Street N 698
Chicago IL 60610
Holland & Knight 131 Dearborn Street N 59
Chicago IL 60603
Jenner & Block One IBM Plaza N 147
Chicago IL 60611
Jones, Day, Reavis & Pogue PO Box 70294 N 119
Washington DC 20044
Julie V. Stevenson, Esq. N 40
Kirkland & Ellis 200 E Randolf N 268
Chicago IL 60601
The Legal Knowledge Company 1100 Glendon Avenue N 191
Los Angeles, CA 90024
Maryanne T. Donaghy N 52
Meckler Bulger & Tilson 123 North Wacker Drive N 54
Chicago IL 60606
Morgan, Lewis & Bockius PO Box 8500 N 170
Philadelphia PA 19178
Oxford Legal Associates Ltd. 416 Bethlehem Pike N 63
Fort Washington PA 19034
Paul Wright, LLC 1748 West Diversy Parkway N 45
Chicago IL 60614
Priya Sankaranarayanan N 46
39
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Legal - continued
Reaves C. Lukens Company 1626 Spruce Street N 64
Philadelphia PA 19103
Reed Smith LLP POB 7777-W4055 N 35
Philadelphia PA 19175
Sanchez & Daniels 333 West Wacker Drive N 31
Chicago IL 60606
Schiff Hardin & White 233 S. Wacker Drive N 33
Chicago IL 60606
Shaw, Pittman 2300 N Street, NW N 46
Washington DC 20037
Sidley & Austin One Bank Plaza N 1,934
Chicago IL 60603
Sonneschein Nath & Rosenthal 8000 Sears Tower N 58
Chicago IL 60606
Thelen Reid & Priest LLP 875 Thrid Avenue N 125
New York NY 10022
William J. Donohue 1105 Blythe Ave N 149
Drexel Hill PA 19026
Winston & Strawn 35 W Wacker Dr N 134
Chicago IL 60601
Other (31 vendors) 142
---------
$ 5,548
---------
Mail Services
Commonwealth Edison Company A $ 164
---------
Maintenance and Repair
Power Labs A $ 724
---------
Occupation Health & Safety
Bensinger, DuPont & Associates 11300 Rockville N $ 60
Rockville, MD 20852
Cape Health Solutions 7511/2West Poplar Ave N 43
West Wildwood NJ 08260
Concentra Medical Centers POB 488 N 36
Lombard IL 60148
Dr. John Koehler, MD 750 Orth Rd N 82
Caledonia IL 61011-9471
Drugscan, Inc. 1119 Mearns Rd N 144
Warminster PA 18974-0097
Granieri, Samuel J. MD 4109 Johnson Ave N 60
Western Springs IL 60558
Intelistaf Health POB 503289 N 99
St Louis MO 63150
40
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Occupation Health & Safety - continued
Medtox Laboratories Inc. 402 West County Road N 73
Saint Paul MN 55112
Physician's Immediate Care 11475 North 2nd St N 130
Machesney Park IL 61014
Psychiatric Associates N 37
Quest Diagnostics POB 64500 N 38
Baltimore MD 21264
Theodore J. Hogan & Associates 103 Stephen Street N 78
Lemont IL 60439
University of Pennsylvania 3733 Spruce St N 87
Philadelphia PA 19104
Other (108 vendors) 230
---------
$ 1,197
---------
Outplacement Services
The Derson Group Ltd 332 S Michigan Ave N $ 22
Chicago IL 60604
---------
$ 22
---------
Procurement
Inovis, Inc. 1277 Lenox Park Blvd N $ 68
Atlanta, GA 30319
Other (4 vendors) N 34
---------
$ 102
---------
Risk Management
Strategic Decision 135 South LaSalle Street N $ 40
Chicago, IL 60674-4628
Other (4 vendors) 46
---------
$ 86
---------
Security Services (8 Vendors) N $ 44
---------
Sky Boxes
Commonwealth Edison Company A $ 12
---------
Stock Services
Equiserve 4229 Collection Center Dr N $ 1,553
Chicago IL 60693 ---------
41
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Outside Services Employed - Account 923 - continued
(in thousands)
Relationship
"A" Associate
From Whom Purchased Address "N" Non Associate Amount
Tax Service
Deloitte & Touche 1700 Market St N $ 1,674
Philadelphia PA 19103-3984
KPMG, LLP 100 Matson Ford Rd N 204
Randor PA 19087-4568
Other (1 vendors) N 2
---------
$ 1,880
---------
Training
The American College 270 Byn Mawr Ave N $ 33
Bryn Mawr PA 19018
American Computers Educators 1617 JFK Boulevard N 52
Philadelphia PA 19103
Center for Corporate Education One Tower Lane N 42
Oakbrook Terrace IL 60181
Cheryl Coovert 16010 River Road N 74
Plainfield, IL 60544
Communispond, Inc. P O BOX 414826 N 126
Boston, MA 02241-4826
Conference Board, Inc. POB 4026 N 28
New York NY 10261
The Corporate Learning Institue 1195 Summerhill Drive N 27
Lisle IL 60532
CPS Corporate Consultants 400 N. Wells N 60
Chicago, IL 60610
Gelfond Group 535 Route 38 N 37
Cherry Hill NJ 08002
IMA, Inc. P O BOX 17854 N 52
Denver, CO 80217-0854
Johnson, Fenner & Levy PO Box 835 N 367
Bryn Mawr PA 19010
Larraine Hall 7002 99th Street N 37
Chicago Ridge IL 60415
Management Associated Results Co Inc (MARC) N 80
Terre Haute IN 47807
Northwestern University 633 Clark Street N 104
Evanston IL 60208
Penn State University 310 Business Admin Bldg N 68
University Park PA 16802
Tedesco, Marilyn B. N 202
Other (60 vendors) 254
---------
$ 1,643
---------
Total Services $ 109,611
=========
42
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Employee Pensions and Benefits - Account 926
(in thousands)
Instructions:
Provide a listing of each pension plan and benefit program provided by the
service company. Such listing should be limited to $25,000.
Description Amount
Pension $ 10,303
Medical Plan 7,879
Post Retirement Benefits other than Pensions 6,691
Employee Savings and Investment Plan 3,735
Variable Stock Options 2,303
Executive Life Insurance 1,668
Long Term Disability 861
Unearned Compensation on Executive Trusts 700
Dental Plan 618
Tuition Reimbursement 377
Excess Benefit Savings Plan 301
Other Benefits 348
---------
TOTAL $ 35,784
=========
43
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
General Advertising Expenses - Account 930.1
(in thousands)
Instructions:
Provide a listing of the amount included in Account 930.1, "General Advertising
Expenses," classifying the items according to the nature of the advertising and
as defined in the account definition. If a particular class includes an amount
in excess of $3,000 applicable to a single payee, show separately the name of
the payee and the aggregate amount applicable thereto.
Description Name of Payee Amount
Advertising Management Advantage Marketing Group $ 77
JRS Consulting, Inc. 81
New Communications, Inc. 4
Norton Rubble & Mertz Advertising 3
Renard Communications, Inc. 3
Summit Marketing Group 4
Tierney Communications 1,044
--------
$ 1,216
--------
Sponsorship Center for Clean Air Policy $ 5
Chicago Bulls 518
The Chicago Network 15
Chicago White Sox 263
EFK Group 184
Hamdard Center for Health and Human Services 10
Human Resource Planning Society 4
Network of Exelon Women 8
NSHMBA 7
Philadelphia Sports Congress 25
United States Golf Association 67
University of Southern California 6
Other 9
--------
$ 1,121
--------
44
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
General Advertising Expenses - Account 930.1 - continued
(in thousands)
Description Name of Payee Amount
Promotions 1492 Hospitality $ 10
All American Sign Company 4
Artcraft & Foremost 36
Barton G 9
Bridgeforth Wolf & Associates 3
Chicago Exhibit Productions 16
Covert Operations 5
D & D Interactive 5
Exelon Generation Company, LLC 175
Iris Alicea 10
Jo Davies Workshop, Inc. 6
JWT Specialized Communications 23
Linjen Promotions, Inc. 7
Ridgewood Caterer 19
Other 5
--------
$ 333
--------
Brand Management Kass Uehling $ 24
--------
Print Advertisement RealPhilly $ 12
--------
TOTAL $ 2,706
========
45
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Miscellaneous General Expenses - Account 930.2
(in thousands)
Instructions:
Provide a listing of the amount included in Account 930.2, "Miscellaneous
General Expenses," classifying such expenses according to their nature. Payments
and expense permitted by Section 321 (b)(2) of the Federal Election Campaign
Act, as amended by Public Law 94-283 in 1976 (2 U.S.C. 441(b)(2)) shall be
separately classified.
Description Amount
Annual Meeting $ 94
Annual Report 1,450
Contributions to Industry/Industry Conferences 202
Corporate Memberships 256
Director Services, Including Fees 1,576
Financial Report Printing 116
Shareholder Services 39
Trust Administration 8
Write-off of Restructuring Balances (457)
--------
TOTAL $ 3,284
========
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Rents - Account 931
(in thousands)
Instructions:
Provide a listing of the amount included in Account 931, "Rents," classifying
such expenses by major groupings of property, as defined in the account
definition of the Uniform System of Accounts.
Type of Property Amount
305 Structures and Improvements $ 12,736
307 Equipment - Informational Technology 532
--------
TOTAL $ 13,268
========
46
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Taxes Other Than Income Taxes - Account 408
in thousands)
Instructions:
Provide an analysis of Account 408, "Taxes Other Than Income Taxes." Separate
the analysis into two groups: (1) other than U.S. Government taxes, and (2) U.S.
Government taxes. Specify each of the various kinds of taxes and show the
amounts thereof. Provide a subtotal for each class of tax.
Kind of Tax Amount
U.S. Government Taxes
Federal Insurance Contribution Tax (FICA) $ 5,144
Federal Unemployment Insurance Tax (FUTA) 66
--------
SUBTOTAL $ 5,210
--------
Other than U.S. Government Taxes
State Unemployment Insurance Tax (SUTA) $ 308
Medicare Tax 1,825
Use tax 129
Other 18
--------
SUBTOTAL $ 2,280
--------
TOTAL $ 7,490
========
47
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Donations - Account 426.1
(in thousands)
Instructions:
Provide a listing of the amount included in Account 426.1, "Donations,"
classifying such expenses by its purpose. The aggregate number and amount of all
items of less than $3,000 may be shown in lieu of details.
Name of Recipient Purpose of Donation Amount
American Lung Association Charitable $ 15
American Red Cross Charitable 5
The Art Institute of Chicago Charitable 305
Arts & Business Council of Chicago Charitable 5
Asian American Community Charitable 6
Association of Fundraising Professionals Charitable 10
Auburn Alumni Engineering Council Charitable 5
Auburn University Foundation Charitable 5
Big Shoulders Fund Charitable 100
Boys & Girls Club Charitable 15
C.U.R.E. Charitable 6
CAEL Charitable 25
Camphill Special School Charitable 5
The Carpenters Company of the City Charitable 4
The Carter Center, Inc. Charitable 8
Catholic Theological Union Charitable 10
Central DuPage Health Foundation Charitable 5
Chicago Area Council Charitable 10
Chicago Cares Charitable 10
Chicago Council on Foreign Relation Charitable 10
Chicago Foundation for Women Charitable 5
Chicago Historical Society Charitable 260
Chicago Minority Business Charitable 6
Chicago Park District Charitable 475
Chicago Shakespeare Theatre Charitable 15
Chicago Symphony Orchestra Charitable 25
Chicagoland Chamber of Commerce Charitable 6
Children First Inc Charitable 36
Conference Board, Inc. Charitable 9
Congressional Hispanic Caucus Charitable 15
The Conservation Fund Charitable 5
DePaul University Charitable 3
Drexel University Charitable 16
Easter Seals of DuPage Charitable 5
Epilepsy Foundation of Greater Chicago Charitable 3
Erikson Institute Charitable 30
Executives Club of Chicago Charitable 4
Field Museum of Natural History Charitable 100
Francis W. Parker School Charitable 10
Friends of the Park Charitable 6
Girl Scouts of Chicago Charitable 10
Granville Academy National Charitable 50
48
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Donations - Account 426.1 - continued
(in thousands)
Name of Recipient Purpose of Donation Amount
Greater Chicago Food Depository Charitable $ 3
Hispanic Alliance for Career Enhancement Charitable 8
Hispanic Association on Corporate
Responsibility Charitable 7
Holocaust Memorial Foundation of Illinois Charitable 10
Horizons for Youth Charitable 10
Hubbard Street Dance of Chicago Charitable 10
Illinois Bar Association Charitable 5
Illinois Institute of Technology Charitable 90
Immaculate Conception School Charitable 6
The Joffrey Ballet of Chicago Charitable 10
John F. Kennedy Center for the Performing
Arts Charitable 10
John G. Shedd Aquarium Charitable 5
Junior Achievement Charitable 5
Juvenile Diabetes Research Charitable 25
Latin School Charitable 5
Lehigh University Charitable 6
Lights of Liberty Charitable 200
Lincoln Park Zoo Charitable 5
Lincoln University Charitable 12
Lyric Opera of Chicago Charitable 50
Magee Rehabilitation Foundation Charitable 5
Merit School of Music Charitable 25
Mexican American Legal Defense Charitable 20
Museum of Science and Industry Charitable 24
NAACP Illinois State Conference Charitable 5
Nami Kane County South, Inc. Charitable 5
National Association of Neighborhoods Charitable 5
National Constitution Center Charitable 50
National Fund for US Botanic Garden Charitable 15
National Hispanic Press Foundation Charitable 30
National Legal Aid & Defender Charitable 5
National Puerto Rican Coalition Inc Charitable 5
National Safety Council Charitable 15
The Nature Conservatory Charitable 150
New America Alliance Charitable 15
Newman Center Charitable 5
Northwestern University Charitable 111
Operation Good Neighborhood Foundation Charitable 25
Pennsylvania Ballet Charitable 10
The People's Music School Charitable 23
Perspectives Charter School Charitable 4
Philadelphia Hospitality, Inc. Charitable 4
Play for Peace Charitable 5
Purdue University Foundation Charitable 4
Ravinia Festival Association Charitable 10
Resources for the Future Charitable 50
49
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Donations - Account 426.1 - continued
(in thousands)
Name of Recipient Purpose of Donation Amount
Sacred Heart High School Charitable 10
Saint Joseph School Charitable 3
Scholarship Chicago Charitable 8
Shoah Visual History Foundation Charitable 5
Society of Hispanic Professional Engineers Charitable 10
Spanish Coalition for Jobs, Inc. Charitable 21
Steppenwolf Theatre Company Charitable 10
Studio Chicago Charitable 3
The Ripon Educational Fund Charitable 23
Trinity Lutheran School Charitable 4
U.S. Chamber of Commerce Charitable 25
United Negro College Fund Charitable 13
United States Hispanic Leadership Charitable 15
United States Holocaust Memorial Museum Charitable 50
United States Naval Academy Charitable 4
United Way Charitable 4
University of Chicago Cancer Research
Foundations Charitable 25
University of Notre Dame Charitable 3
University of Pennsylvania Charitable 31
USC Educational Foundation Charitable 25
USO of Illinois Charitable 10
Victory Gardens Theatre Charitable 15
Women Employed Institute Charitable 15
YMCA of Metropolitan Chicago Charitable 15
YWCA of Metropolitan Chicago Charitable 13
Other Universities and Schools
(343 items under $3,000) Charitable 167
Other (55 items under $3,000) Charitable 67
--------
TOTAL $ 3,359
========
50
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Other Deductions - Account 426.5
(in thousands)
Instructions:
Provide a listing of the amount included in Account 426.5, "Other Deductions,"
classifying such expenses according to their nature.
Description Name of Payee Amount
Bank Commitment Fees Bank One $ 211
--------
Public Relations Akin, Gump, Strauss, Haver & Feld $
Capitol Tax Partners 180
Government Strategies Inc. 67
Image Base 20
John H. Sununu 67
Johnston & Associates 15
Kass Uehling Inc. 19
Kessler & Associates Business Services 90
Klett, Rooney, Lieber & Schorling 16
McGovern & Smith 40
Morris Schreim 93
PR Newswire, Inc. 48
The Washington Group 300
Other 30
--------
$ 985
--------
Employee Settlements $ 114
--------
Exelon PAC Administration Comerica Bank $ 34
Democratic Leadership Council 50
--------
$ 84
--------
Stock Listing Fees New York Stock Exchange $ 305
Chicago Stock Exchange 3
--------
$ 308
--------
TOTAL $ 1,702
========
51
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
For the Year Ended December 31, 2003
Schedule XVIII - Notes to Statement of Income
Instructions:
The space below is provided for important notes regarding the statement of
income or any account thereof. Furnish particulars as to any significant
increases in services rendered or expenses incurred during the year. Notes
relating to financial statements shown elsewhere in this report may be indicated
here by reference.
See Schedule XIV, Notes to Financial Statements
52
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
Organization Chart
As of December 31, 2003
John W. Rowe - Chairman and Chief Executive Officer, Exelon Corporation
Oliver D. Kingsley, Jr. - President and Chief Operating Officer, Exelon
Corporation
Michael A. Bemis - Senior Vice President, Exelon Corporation;
President of Exelon Energy Delivery Company LLC
Frank M. Clark - Senior Vice President, Exelon Corporation;
President, Commonwealth Edison Company
Denis P. O'Brien - President, PECO Energy Company
Ian P. McLean - Executive Vice President, Exelon Corporation;
President, Power Team, Exelon Generation
John F. Young - Senior Vice President, Exelon Corporation;
President, Exelon Power
John L. Skolds - Senior Vice President, Exelon Generation;
President and Chief Nuclear Officer, Exelon Nuclear
David W. Woods - Senior Vice President, Government and Public
Affairs, Exelon Corporation
Pamela B. Strobel - Executive Vice President and Chief Administrative
Officer, Exelon Corporation
Ruth Ann M. Gillis - Senior Vice President, Exelon Corporation;
President, Exelon Business Services Company
George H. Gilmore, Jr. - Senior Vice President, Exelon
Corporation; President, Enterprises Company LLC
Robert S. Shapard - Executive Vice President and Chief Financial
Officer, Exelon Corporation
J. Barry Mitchell, Senior Vice President and Treasurer, Exelon
Corporation
Randall E. Mehrberg - Executive Vice President and General Counsel,
Exelon Corporation
Richard H. Glanton - Senior Vice President, Mergers and
Acquisitions, Exelon Corporation
Katherine K. Combs - Vice President, Corporate Secretary and
Deputy General Counsel, Exelon Corporation
Elizabeth Anne Moler - Executive Vice President, Government and
Environmental Affairs and Public Policy, Exelon Corporation
S. Gary Snodgrass - Senior Vice President and Chief Human Resources
Officer, Exelon Corporation
53
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
Methods of Allocation
General:
Direct charges shall be made so far as costs can be identified and
related to the particular transactions involved without excessive
effort or expense. Other elements of cost, including taxes, interest,
other overhead, and compensation for the use of capital procured by
the issuance of capital stock, shall be fairly and equitably
allocated using the ratios set forth below.
Revenue Related Ratios:
Revenues
Sales - Units sold and/or transported
Number of Customers
Expenditure Related Ratios:
Total Expenditures
Operations and Maintenance Expenditures
Capital Expenditures
Service Company Billings
Service Company SLA Billings (Non-governance)
Labor/Payroll Related Ratios:
Labor / Payroll
Number of Employees
Units Related Ratios:
Usage (for example: CPU's, square feet , number of vendor
invoice payments)
Consumption (for example: tons of coal, gallons of oil, MMBTU's)
Capacity (for example: nameplate generating capacity, peak
load, gas throughput)
Other units related
Assets Related Ratios:
Total Assets
Current Assets
Gross Plant
Composite Ratios:
Total Average Assets and 12 months ended Gross Payroll
Other composite ratios
54
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
Annual Statement of Compensation for Use of Capital Billed
(in thousands)
Account 430 Interest on debt to associate companies $ 1,495
55
Form U-13-60
Exhibit # 1
This exhibit is made pursuant to Exelon's Form U-1 Application-Declaration, as
amended (the "Merger U-1") dated October 18, 2000 and the Commission's Order
dated October 19, 2000. This exhibit reports information concerning non-service
associate company transactions provided during the period from July 1, 2003
through December 31, 2003. Any capitalized terms used herein but not defined
have the respective meanings given in the Merger U-1 or in the Commission's
Order.
See attached spreadsheet for:
1. List of companies providing services;
2. List of companies receiving services;
3. A description of the type of services provided;
4. The dollar amount of the services provided, by category;
5. A description of the method of charging for services, i.e., cost, or,
if permitted, other than cost;
6. A reference to the agreement under which such services were provided
and transfer charges were based.
An income statement and balance sheet for each service provider for, and as of,
the most recently completed fiscal year, is being provided confidentially on
Form SE.
56
ANNUAL REPORT OF EXELON BUSINESS SERVICES COMPANY
Signature Clause
Pursuant to the requirements of the Public Utility Holding Company Act of 1935
and the rules and regulations of the Securities and Exchange Commission issued
thereunder, the undersigned company has duly caused this report to be signed on
its behalf by the undersigned officer thereunto duly authorized.
Exelon Business Services Company
--------------------------------------------------------------------------------
(Name of Reporting Company)
By: /s/ Robert S. Shapard
-------------------------------------------------------------------------------
(Signature of Signing Officer)
Robert S. Shapard, Executive Vice-President and Chief Financial Officer
--------------------------------------------------------------------------------
(Printed Name and Title of Signing Officer)
Date: April 30, 2004
----------------