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Midas Edge

EXELON CORP

For the period ended Sep 30, 2024. Filed Oct 30, 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.

Sep 30, 2024 · Filed Oct 30, 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

Nine Months Ended September 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
Net income——360360
Common stock dividends——(194)(194)
Contributions from parent—39—39
Balance at September 30, 2024$1,588$10,518$2,615$14,721
Nine Months Ended September 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
Net income——333333
Common stock dividends——(185)(185)
Contributions from parent—198—198
Balance at September 30, 2023$1,588$10,316$2,294$14,198
Three Months Ended September 30,Nine Months EndedSeptember 30,
(In millions)2024202320242023
Operating revenues
Electric operating revenues$952$957$2,529$2,478
Natural gas operating revenues6967436492
Revenues from alternative revenue programs51131
Operating revenues from affiliates4276
Total operating revenues1,0301,0372,9752,977
Operating expenses
Purchased power372396977994
Purchased fuel1415136203
Operating and maintenance251217695622
Operating and maintenance from affiliates6260181164
Depreciation and amortization108100318297
Taxes other than income taxes6159164156
Total operating expenses8688472,4712,436
Gain on sales of assets——4—
Operating income162190508541
Other income and (deductions)
Interest expense, net(55)(51)(161)(142)
Interest expense to affiliates(3)(1)(9)(7)
Other, net9112726
Total other income and (deductions)(49)(41)(143)(123)
Income before income taxes113149365418
Income taxes(4)398
Net income$117$146$356$410
Comprehensive income$117$146$356$410
Nine Months EndedSeptember 30,
(In millions)20242023
Cash flows from operating activities
Net income$356$410
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization318297
Gain on sales of assets(4)—
Deferred income taxes and amortization of investment tax credits(27)(44)
Other non-cash operating activities582
Changes in assets and liabilities:
Accounts receivable(75)135
Receivables from and payables to affiliates, net(2)(2)
Inventories(2)35
Accounts payable and accrued expenses(65)(132)
Income taxes(55)76
Regulatory assets and liabilities, net171
Pension and non-pension postretirement benefit contributions(3)(1)
Other assets and liabilities(19)—
Net cash flows provided by operating activities497777
Cash flows from investing activities
Capital expenditures(1,125)(1,068)
Changes in Exelon intercompany money pool(89)(51)
Other investing activities51
Net cash flows used in investing activities(1,209)(1,118)
Cash flows from financing activities
Changes in short-term borrowings(165)(239)
Issuance of long-term debt575575
Retirement of long-term debt—(50)
Dividends paid on common stock(300)(303)
Contributions from parent595348
Other financing activities(7)(6)
Net cash flows provided by financing activities698325
Decrease in cash, restricted cash, and cash equivalents(14)(16)
Cash, restricted cash, and cash equivalents at beginning of period5168
Cash, restricted cash, and cash equivalents at end of period$37$52
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid$60$(22)
(In millions)September 30, 2024December 31, 2023
ASSETS
Current assets
Cash and cash equivalents$28$42
Restricted cash and cash equivalents99
Accounts receivable
Customer accounts receivable546527
Customer allowance for credit losses(135)(95)
Customer accounts receivable, net411432
Other accounts receivable160117
Other allowance for credit losses(20)(8)
Other accounts receivable, net140109
Receivables from affiliates12
Receivable from Exelon intercompany money pool89—
Inventories, net
Fossil fuel3950
Materials and supplies7967
Prepaid utility taxes372
Regulatory assets86127
Other6363
Total current assets982903
Property, plant, and equipment (net of accumulated depreciation and amortization of $4,003 and $4,097 as of September 30, 2024 and December 31, 2023, respectively)14,02113,128
Deferred debits and other assets
Regulatory assets903793
Receivable related to Regulatory Agreement Units338278
Investments3935
Prepaid pension asset434429
Other3129
Total deferred debits and other assets1,7451,564
Total assets$16,748$15,595
(In millions)September 30, 2024December 31, 2023
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities
Short-term borrowings$—$165
Accounts payable556512
Accrued expenses148236
Payables to affiliates3639
Customer deposits7679
Regulatory liabilities8392
Other6459
Total current liabilities9631,182
Long-term debt5,7035,134
Long-term debt to financing trusts184184
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits2,3892,321
Regulatory liabilities376314
Asset retirement obligations2826
Non-pension postretirement benefits obligations287286
Other9879
Total deferred credits and other liabilities3,1783,026
Total liabilities10,0289,526
Commitments and contingencies
Shareholder’s equity
Common stock4,6454,050
Retained earnings2,0752,019
Total shareholder’s equity6,7206,069
Total liabilities and shareholder's equity$16,748$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.