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Midas Edge

EXELON CORP

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

View on SEC.gov

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

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

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Contents

Consolidated Statements of Changes in Shareholders' Equity

Six Months Ended June 30, 2024
(In millions)CommonStockOtherPaid-InCapitalRetainedEarningsTotalShareholders’Equity
Balance at December 31, 2023$1,588$10,401$2,374$14,363
Net income——193193
Common stock dividends——(194)(194)
Contributions from parent—39—39
Balance at March 31, 2024$1,588$10,440$2,373$14,401
Net income——270270
Common stock dividends——(194)(194)
Contributions from parent—39—39
Balance at June 30, 2024$1,588$10,479$2,449$14,516
Six Months Ended June 30, 2023
(In millions)CommonStockOtherPaid-InCapitalRetainedEarningsTotalShareholders’Equity
Balance at December 31, 2022$1,588$9,746$2,030$13,364
Net income——241241
Common stock dividends——(187)(187)
Contributions from parent—186—186
Balance at March 31, 2023$1,588$9,932$2,084$13,604
Net income——249249
Common stock dividends——(187)(187)
Contributions from parent—186—186
Balance at June 30, 2023$1,588$10,118$2,146$13,852
Three Months Ended June 30,Six Months EndedJune 30,
(In millions)2024202320242023
Operating revenues
Electric operating revenues$795$723$1,576$1,521
Natural gas operating revenues94108367425
Revenues from alternative revenue programs—(5)(2)(10)
Operating revenues from affiliates2244
Total operating revenues8918281,9451,940
Operating expenses
Purchased power298267604597
Purchased fuel2535123189
Operating and maintenance209186444405
Operating and maintenance from affiliates6153119105
Depreciation and amortization10799210197
Taxes other than income taxes524710397
Total operating expenses7526871,6031,590
Gain on sales of assets2—4—
Operating income141141346350
Other income and (deductions)
Interest expense, net(54)(45)(106)(90)
Interest expense to affiliates(3)(3)(6)(7)
Other, net961815
Total other income and (deductions)(48)(42)(94)(82)
Income before income taxes9399252268
Income taxes32135
Net income$90$97$239$263
Comprehensive income$90$97$239$263
Six Months EndedJune 30,
(In millions)20242023
Cash flows from operating activities
Net income$239$263
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization210197
Gain on sales of assets(4)—
Deferred income taxes and amortization of investment tax credits(14)(26)
Other non-cash operating activities3712
Changes in assets and liabilities:
Accounts receivable(83)182
Receivables from and payables to affiliates, net1(3)
Inventories1352
Accounts payable and accrued expenses(57)(167)
Income taxes(19)56
Regulatory assets and liabilities, net(15)14
Pension and non-pension postretirement benefit contributions(3)(1)
Other assets and liabilities(65)(34)
Net cash flows provided by operating activities240545
Cash flows from investing activities
Capital expenditures(743)(707)
Changes in Exelon intercompany money pool—(225)
Other investing activities5—
Net cash flows used in investing activities(738)(932)
Cash flows from financing activities
Changes in short-term borrowings95(239)
Issuance of long-term debt—575
Retirement of long-term debt—(50)
Dividends paid on common stock(200)(202)
Contributions from parent580330
Other financing activities—(4)
Net cash flows provided by financing activities475410
(Decrease) increase in cash, restricted cash, and cash equivalents(23)23
Cash, restricted cash, and cash equivalents at beginning of period5168
Cash, restricted cash, and cash equivalents at end of period$28$91
Supplemental cash flow information
Increase in capital expenditures not paid$21$3
(In millions)June 30, 2024December 31, 2023
ASSETS
Current assets
Cash and cash equivalents$19$42
Restricted cash and cash equivalents99
Accounts receivable
Customer accounts receivable578527
Customer allowance for credit losses(112)(95)
Customer accounts receivable, net466432
Other accounts receivable143117
Other allowance for credit losses(20)(8)
Other accounts receivable, net123109
Receivables from affiliates12
Inventories, net
Fossil fuel2750
Materials and supplies7767
Prepaid utility taxes902
Regulatory assets115127
Other9363
Total current assets1,020903
Property, plant, and equipment (net of accumulated depreciation and amortization of $4,189 and $4,097 as of June 30, 2024 and December 31, 2023, respectively)13,69913,128
Deferred debits and other assets
Regulatory assets861793
Receivable related to Regulatory Agreement Units274278
Investments3735
Prepaid pension asset433429
Other3029
Total deferred debits and other assets1,6351,564
Total assets$16,354$15,595
(In millions)June 30, 2024December 31, 2023
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities
Short-term borrowings$260$165
Accounts payable522512
Accrued expenses184236
Payables to affiliates3939
Customer deposits7879
Renewable energy credit obligation7236
Regulatory liabilities7992
Other3423
Total current liabilities1,2681,182
Long-term debt5,1355,134
Long-term debt to financing trusts184184
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits2,3672,321
Regulatory liabilities311314
Asset retirement obligations2726
Non-pension postretirement benefits obligations287286
Other8779
Total deferred credits and other liabilities3,0793,026
Total liabilities9,6669,526
Commitments and contingencies
Shareholder’s equity
Common stock4,6304,050
Retained earnings2,0582,019
Total shareholder’s equity6,6886,069
Total liabilities and shareholder's equity$16,354$15,595
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.