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

Statements of Changes in Shareholder's Equity

	Six Months Ended June 30, 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
Net income	—	108	108
Common stock dividends	—	(102)	(102)
Balance at June 30, 2024	$3,326	$1,099	$4,425

	Six Months Ended June 30, 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
Net income	—	64	64
Common stock dividends	—	(67)	(67)
Balance at June 30, 2023	$3,010	$1,029	$4,039

	Three Months Ended June 30,		Six Months EndedJune 30,
(In millions)	2024	2023	2024	2023
Operating revenues
Electric operating revenues	$361	$315	$773	$682
Natural gas operating revenues	28	29	100	126
Revenues from alternative revenue programs	—	3	4	12
Operating revenues from affiliates	1	2	3	3
Total operating revenues	390	349	880	823
Operating expenses
Purchased power	147	127	333	293
Purchased fuel	9	12	37	67
Operating and maintenance	50	45	101	91
Operating and maintenance from affiliates	46	43	91	84
Depreciation and amortization	61	60	122	121
Taxes other than income taxes	19	18	39	37
Total operating expenses	332	305	723	693
Operating income	58	44	157	130
Other income and (deductions)
Interest expense, net	(24)	(18)	(46)	(36)
Other, net	8	4	15	8
Total other income and (deductions)	(16)	(14)	(31)	(28)
Income before income taxes	42	30	126	102
Income taxes	8	5	25	17
Net income	$34	$25	$101	$85
Comprehensive income	$34	$25	$101	$85

	Six Months EndedJune 30,
(In millions)	2024	2023
Cash flows from operating activities
Net income	$101	$85
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	122	121
Deferred income taxes and amortization of investment tax credits	7	3
Other non-cash operating activities	15	2
Changes in assets and liabilities:
Accounts receivable	4	48
Receivables from and payables to affiliates, net	2	1
Inventories	(10)	5
Accounts payable and accrued expenses	38	(9)
Collateral paid, net	—	(121)
Income taxes	(24)	11
Regulatory assets and liabilities, net	(26)	25
Other assets and liabilities	21	10
Net cash flows provided by operating activities	250	181
Cash flows from investing activities
Capital expenditures	(268)	(258)
Changes in PHI intercompany money pool	(125)	(102)
Net cash flows used in investing activities	(393)	(360)
Cash flows from financing activities
Changes in short-term borrowings	(63)	(115)
Issuance of long-term debt	175	125
Dividends paid on common stock	(84)	(60)
Contributions from parent	154	99
Other financing activities	(4)	(4)
Net cash flows provided by financing activities	178	45
Increase (decrease) in cash, restricted cash, and cash equivalents	35	(134)
Cash, restricted cash, and cash equivalents at beginning of period	16	152
Cash, restricted cash, and cash equivalents at end of period	$51	$18
Supplemental cash flow information
Decrease in capital expenditures not paid	$(2)	$(3)

(In millions)	June 30, 2024	December 31, 2023
ASSETS
Current assets
Cash and cash equivalents	$50	$16
Restricted cash and cash equivalents	1	—
Accounts receivable
Customer accounts receivable	172	183
Customer allowance for credit losses	(16)	(19)
Customer accounts receivable, net	156	164
Other accounts receivable	53	52
Other allowance for credit losses	(7)	(8)
Other accounts receivable, net	46	44
Receivables from affiliates	—	1
Receivable from PHI intercompany pool	125	—
Inventories, net
Fossil fuel	5	9
Materials and supplies	86	72
Prepaid utility taxes	—	24
Regulatory assets	69	54
Other	25	14
Total current assets	563	398
Property, plant, and equipment (net of accumulated depreciation and amortization of $2,003 and $1,925 as of June 30, 2024 and December 31, 2023, respectively)	5,324	5,165
Deferred debits and other assets
Regulatory assets	214	218
Prepaid pension asset	128	135
Other	48	50
Total deferred debits and other assets	390	403
Total assets	$6,277	$5,966

(In millions)	June 30, 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	191	159
Accrued expenses	45	64
Payables to affiliates	26	25
Customer deposits	33	31
Regulatory liabilities	60	50
Other	18	21
Total current liabilities	458	497
Long-term debt	2,169	1,996
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	923	904
Regulatory liabilities	343	365
Asset retirement obligations	13	12
Non-pension postretirement benefits obligations	6	6
Other	102	93
Total deferred credits and other liabilities	1,387	1,380
Total liabilities	4,014	3,873
Commitments and contingencies
Shareholder's equity
Common stock	1,609	1,455
Retained earnings	654	638
Total shareholder's equity	2,263	2,093
Total liabilities and shareholder's equity	$6,277	$5,966

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