EXELON CORP

For the period ended Mar 31, 2024. Filed May 2, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 2, 2024

EXC$45.62-2.0%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Statements of Changes in Shareholder's Equity

	Three Months Ended March 31, 2024
(In millions)	Common Stock	Retained Earnings	Total Shareholder's Equity
Balance at December 31, 2023	$3,075	$1,069	$4,144
Net income	—	75	75
Common stock dividends	—	(51)	(51)
Contributions from parent	251	—	251
Balance at March 31, 2024	$3,326	$1,093	$4,419

	Three Months Ended March 31, 2023
(In millions)	Common Stock	Retained Earnings	Total Shareholder's Equity
Balance at December 31, 2022	$2,767	$1,015	$3,782
Net income	—	65	65
Common stock dividends	—	(48)	(48)
Contributions from parent	243	—	243
Balance at March 31, 2023	$3,010	$1,032	$4,042

	Three Months Ended March 31,
(In millions)	2024	2023
Operating revenues
Electric operating revenues	$413	$366
Natural gas operating revenues	72	97
Revenues from alternative revenue programs	4	9
Operating revenues from affiliates	2	2
Total operating revenues	491	474
Operating expenses
Purchased power	186	166
Purchased fuel	29	55
Operating and maintenance	51	46
Operating and maintenance from affiliates	44	41
Depreciation and amortization	61	60
Taxes other than income taxes	20	20
Total operating expenses	391	388
Operating income	100	86
Other income and (deductions)
Interest expense, net	(22)	(17)
Other, net	5	3
Total other income and (deductions)	(17)	(14)
Income before income taxes	83	72
Income taxes	17	12
Net income	$66	$60
Comprehensive income	$66	$60

	Three Months EndedMarch 31,
(In millions)	2024	2023
Cash flows from operating activities
Net income	$66	$60
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	61	60
Deferred income taxes and amortization of investment tax credits	6	3
Other non-cash operating activities	12	(1)
Changes in assets and liabilities:
Accounts receivable	(7)	23
Receivables from and payables to affiliates, net	—	4
Inventories	1	10
Accounts payable and accrued expenses	16	(16)
Collateral paid, net	—	(120)
Income taxes	10	9
Regulatory assets and liabilities, net	(1)	27
Other assets and liabilities	6	1
Net cash flows provided by operating activities	170	60
Cash flows from investing activities
Capital expenditures	(134)	(134)
Net cash flows used in investing activities	(134)	(134)
Cash flows from financing activities
Changes in short-term borrowings	(63)	(115)
Issuance of long-term debt	175	125
Dividends paid on common stock	(45)	(42)
Contributions from parent	154	99
Other financing activities	(3)	(2)
Net cash flows provided by financing activities	218	65
Increase (decrease) in cash, restricted cash, and cash equivalents	254	(9)
Cash, restricted cash, and cash equivalents at beginning of period	16	152
Cash, restricted cash, and cash equivalents at end of period	$270	$143
Supplemental cash flow information
Decrease in capital expenditures not paid	$(6)	$(3)

(In millions)	March 31, 2024	December 31, 2023
ASSETS
Current assets
Cash and cash equivalents	$269	$16
Restricted cash and cash equivalents	1	—
Accounts receivable
Customer accounts receivable	186	183
Customer allowance for credit losses	(17)	(19)
Customer accounts receivable, net	169	164
Other accounts receivable	51	52
Other allowance for credit losses	(8)	(8)
Other accounts receivable, net	43	44
Receivables from affiliates	—	1
Inventories, net
Fossil fuel	3	9
Materials and supplies	77	72
Prepaid utility taxes	13	24
Regulatory assets	56	54
Other	20	14
Total current assets	651	398
Property, plant, and equipment (net of accumulated depreciation and amortization of $1,961 and $1,925 as of March 31, 2024 and December 31, 2023, respectively)	5,245	5,165
Deferred debits and other assets
Regulatory assets	212	218
Prepaid pension asset	132	135
Other	51	50
Total deferred debits and other assets	395	403
Total assets	$6,291	$5,966

(In millions)	March 31, 2024	December 31, 2023
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities
Short-term borrowings	$—	$63
Long-term debt due within one year	85	84
Accounts payable	157	159
Accrued expenses	86	64
Payables to affiliates	25	25
Customer deposits	32	31
Regulatory liabilities	61	50
Other	18	21
Total current liabilities	464	497
Long-term debt	2,169	1,996
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	919	904
Regulatory liabilities	356	365
Asset retirement obligations	13	12
Non-pension postretirement benefits obligations	5	6
Other	97	93
Total deferred credits and other liabilities	1,390	1,380
Total liabilities	4,023	3,873
Commitments and contingencies
Shareholder's equity
Common stock	1,609	1,455
Retained earnings	659	638
Total shareholder's equity	2,268	2,093
Total liabilities and shareholder's equity	$6,291	$5,966

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.