EXELON CORP

For the period ended Jun 30, 2024. Filed Aug 1, 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.

Jun 30, 2024 · Filed Aug 1, 2024

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

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Contents

Consolidated Statements of Changes in Shareholder's Equity

	Six Months Ended June 30, 2024
(In millions)	CommonStock	RetainedEarnings	TotalShareholder'sEquity
Balance at December 31, 2023	$4,050	$2,019	$6,069
Net income	—	149	149
Common stock dividends	—	(100)	(100)
Contributions from parent	580	—	580
Balance at March 31, 2024	$4,630	$2,068	$6,698
Net income	—	90	90
Common stock dividends	—	(100)	(100)
Balance at June 30, 2024	$4,630	$2,058	$6,688
	Six Months Ended June 30, 2023
(In millions)	CommonStock	RetainedEarnings	TotalShareholder'sEquity
Balance at December 31, 2022	$3,702	$1,861	$5,563
Net income	—	166	166
Common stock dividends	—	(101)	(101)
Contributions from parent	330	—	330
Balance at March 31, 2023	$4,032	$1,926	$5,958
Net income	—	97	97
Common stock dividends	—	(101)	(101)
Balance at June 30, 2023	$4,032	$1,922	$5,954

	Three Months Ended June 30,		Six Months EndedJune 30,
(In millions)	2024	2023	2024	2023
Operating revenues
Electric operating revenues	$799	$670	$1,656	$1,449
Natural gas operating revenues	150	121	545	530
Revenues from alternative revenue programs	(23)	4	19	70
Operating revenues from affiliates	2	2	5	4
Total operating revenues	928	797	2,225	2,053
Operating expenses
Purchased power	323	261	700	604
Purchased fuel	20	11	107	160
Operating and maintenance	188	144	392	311
Operating and maintenance from affiliates	62	54	122	108
Depreciation and amortization	162	158	312	325
Taxes other than income taxes	80	76	169	159
Total operating expenses	835	704	1,802	1,667
Operating income	93	93	423	386
Other income and (deductions)
Interest expense, net	(53)	(44)	(103)	(88)
Other, net	8	5	16	8
Total other income and (deductions)	(45)	(39)	(87)	(80)
Income before income taxes	48	54	336	306
Income taxes	4	12	28	65
Net income	$44	$42	$308	$241
Comprehensive income	$44	$42	$308	$241

	Six Months EndedJune 30,
(In millions)	2024	2023
Cash flows from operating activities
Net income	$308	$241
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	312	325
Deferred income taxes and amortization of investment tax credits	(4)	38
Other non-cash operating activities	15	(36)
Changes in assets and liabilities:
Accounts receivable	(20)	185
Receivables from and payables to affiliates, net	3	(8)
Inventories	3	51
Accounts payable and accrued expenses	5	(114)
Collateral paid, net	—	(22)
Income taxes	(43)	8
Regulatory assets and liabilities, net	(32)	(83)
Pension and non-pension postretirement benefit contributions	(30)	(11)
Other assets and liabilities	53	37
Net cash flows provided by operating activities	570	611
Cash flows from investing activities
Capital expenditures	(668)	(656)
Other investing activities	9	4
Net cash flows used in investing activities	(659)	(652)
Cash flows from financing activities
Changes in short-term borrowings	(336)	(408)
Issuance of long-term debt	800	700
Retirement of long-term debt	—	(300)
Dividends paid on common stock	(184)	(158)
Contributions from parent	197	237
Other financing activities	(8)	(7)
Net cash flows provided by financing activities	469	64
Increase in cash, restricted cash, and cash equivalents	380	23
Cash, restricted cash, and cash equivalents at beginning of period	48	67
Cash, restricted cash, and cash equivalents at end of period	$428	$90
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	$32	$(60)

(In millions)	June 30, 2024	December 31, 2023
ASSETS
Current assets
Cash and cash equivalents	$428	$47
Restricted cash and cash equivalents	—	1
Accounts receivable
Customer accounts receivable	539	527
Customer allowance for credit losses	(45)	(46)
Customer accounts receivable, net	494	481
Other accounts receivable	100	106
Other allowance for credit losses	(5)	(7)
Other accounts receivable, net	95	99
Inventories, net
Fossil fuel	22	35
Materials and supplies	84	74
Prepaid utility taxes	—	56
Regulatory assets	208	229
Other	20	25
Total current assets	1,351	1,047
Property, plant, and equipment (net of accumulated depreciation and amortization of $4,905 and $4,744 as of June 30, 2024 and December 31, 2023, respectively)	12,544	12,102
Deferred debits and other assets
Regulatory assets	751	727
Investments	9	9
Prepaid pension asset	241	248
Other	49	51
Total deferred debits and other assets	1,050	1,035
Total assets	$14,945	$14,184

(In millions)	June 30, 2024	December 31, 2023
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities
Short-term borrowings	$—	$336
Accounts payable	395	344
Accrued expenses	144	203
Payables to affiliates	37	35
Customer deposits	117	114
Regulatory liabilities	21	27
Other	31	34
Total current liabilities	745	1,093
Long-term debt	5,394	4,602
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	2,029	1,945
Regulatory liabilities	690	773
Asset retirement obligations	32	32
Non-pension postretirement benefits obligations	152	158
Other	92	91
Total deferred credits and other liabilities	2,995	2,999
Total liabilities	9,134	8,694
Commitments and contingencies
Shareholder's equity
Common stock	3,443	3,246
Retained earnings	2,368	2,244
Total shareholder's equity	5,811	5,490
Total liabilities and shareholder's equity	$14,945	$14,184

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.