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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.

See the whole filing, with its images and exhibits
Contents

Statements of Changes in Shareholder's Equity

Six Months Ended June 30, 2024
(In millions)CommonStockRetainedEarningsTotalShareholder'sEquity
Balance at December 31, 2023$3,246$2,244$5,490
Net income—264264
Common stock dividends—(92)(92)
Balance at March 31, 2024$3,246$2,416$5,662
Net income—4444
Common stock dividends—(92)(92)
Contributions from parent197—197
Balance at June 30, 2024$3,443$2,368$5,811
Six Months Ended June 30, 2023
(In millions)CommonStockRetainedEarningsTotalShareholder'sEquity
Balance at December 31, 2022$2,861$2,075$4,936
Net income—200200
Common stock dividends—(80)(80)
Contributions from parent237—237
Balance at March 31, 2023$3,098$2,195$5,293
Net income—4242
Common stock dividends—(79)(79)
Balance at June 30, 2023$3,098$2,158$5,256
Three Months Ended June 30,Six Months EndedJune 30,
(In millions)2024202320242023
Operating revenues
Electric operating revenues$1,455$1,265$2,941$2,637
Natural gas operating revenues2829100126
Revenues from alternative revenue programs(14)93274
Operating revenues from affiliates2244
Total operating revenues1,4711,3053,0772,841
Operating expenses
Purchased power5534551,1601,027
Purchased fuel9123767
Operating and maintenance231260506527
Operating and maintenance from affiliates504410186
Depreciation and amortization235243481484
Taxes other than income taxes126112254232
Total operating expenses1,2041,1262,5392,423
Operating income267179538418
Other income and (deductions)
Interest expense, net(92)(81)(183)(157)
Other, net29255751
Total other income and (deductions)(63)(56)(126)(106)
Income before income taxes204123412312
Income taxes46208654
Net income$158$103$326$258
Comprehensive income$158$103$326$258
Six Months EndedJune 30,
(In millions)20242023
Cash flows from operating activities
Net income$326$258
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization481484
Deferred income taxes and amortization of investment tax credits2626
Other non-cash operating activities4720
Changes in assets and liabilities:
Accounts receivable(77)55
Receivables from and payables to affiliates, net3(8)
Inventories(25)(14)
Accounts payable and accrued expenses90(25)
Collateral received (paid), net2(191)
Income taxes(54)6
Regulatory assets and liabilities, net(126)8
Pension and non-pension postretirement benefit contributions(75)(11)
Other assets and liabilities(81)(80)
Net cash flows provided by operating activities537528
Cash flows from investing activities
Capital expenditures(903)(1,022)
Other investing activities—8
Net cash flows used in investing activities(903)(1,014)
Cash flows from financing activities
Changes in short-term borrowings(394)(377)
Issuance of long-term debt925450
Retirement of long-term debt(400)—
Changes in Exelon intercompany money pool(8)8
Distributions to member(282)(212)
Contributions from member487405
Other financing activities(25)(25)
Net cash flows provided by financing activities303249
Decrease in cash, restricted cash, and cash equivalents(63)(237)
Cash, restricted cash, and cash equivalents at beginning of period204373
Cash, restricted cash, and cash equivalents at end of period$141$136
Supplemental cash flow information
Decrease in capital expenditures not paid$(25)$(91)
(In millions)June 30, 2024December 31, 2023
ASSETS
Current assets
Cash and cash equivalents$119$180
Restricted cash and cash equivalents2224
Accounts receivable
Customer accounts receivable805745
Customer allowance for credit losses(103)(107)
Customer accounts receivable, net702638
Other accounts receivable302310
Other allowance for credit losses(54)(50)
Other accounts receivable, net248260
Receivables from affiliates33
Inventories, net
Fossil fuel59
Materials and supplies316287
Regulatory assets343337
Other95100
Total current assets1,8531,838
Property, plant, and equipment (net of accumulated depreciation and amortization of $3,443 and $3,175 as of June 30, 2024 and December 31, 2023, respectively)19,37918,851
Deferred debits and other assets
Regulatory assets1,6201,587
Goodwill4,0054,005
Investments149143
Prepaid pension asset293268
Other202211
Total deferred debits and other assets6,2696,214
Total assets$27,501$26,903
(In millions)June 30, 2024December 31, 2023
LIABILITIES AND MEMBER'S EQUITY
Current liabilities
Short-term borrowings$—$394
Long-term debt due within one year244644
Accounts payable716683
Accrued expenses309338
Payables to affiliates6259
Borrowings from Exelon intercompany money pool5765
Customer deposits107100
Regulatory liabilities8271
Unamortized energy contract liabilities68
PPA termination obligation2049
Other106138
Total current liabilities1,7092,549
Long-term debt8,9048,004
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits3,1003,031
Regulatory liabilities863904
Asset retirement obligations5755
Non-pension postretirement benefit obligations3640
Unamortized energy contract liabilities2327
Other496511
Total deferred credits and other liabilities4,5754,568
Total liabilities15,18815,121
Commitments and contingencies
Member's equity
Membership interest12,54412,057
Undistributed losses(231)(275)
Total member's equity12,31311,782
Total liabilities and member's equity$27,501$26,903
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.