EXELON CORP

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

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.

See the whole filing, with its images and exhibits

Contents

Statements of Changes in Shareholder’s Equity

	Nine Months Ended September 30, 2024
(In millions)	Common Stock	Retained Earnings	Total Shareholder's Equity
Balance at December 31, 2023	$1,455	$638	$2,093
Net income	—	66	66
Common stock dividends	—	(45)	(45)
Contributions from parent	154	—	154
Balance at March 31, 2024	$1,609	$659	$2,268
Net income	—	34	34
Common stock dividends	—	(39)	(39)
Balance at June 30, 2024	$1,609	$654	$2,263
Net income	—	55	55
Common stock dividends	—	(78)	(78)
Contributions from parent	6	—	6
Balance at September 30, 2024	$1,615	$631	$2,246

	Nine Months Ended September 30, 2023
(In millions)	Common Stock	Retained Earnings	Total Shareholder's Equity
Balance at December 31, 2022	$1,356	$594	$1,950
Net income	—	60	60
Common stock dividends	—	(42)	(42)
Contributions from parent	99	—	99
Balance at March 31, 2023	$1,455	$612	$2,067
Net income	—	25	25
Common stock dividends	—	(18)	(18)
Balance at June 30, 2023	$1,455	$619	$2,074
Net income	—	43	43
Common stock dividends	—	(37)	(37)
Balance, September 30, 2023	$1,455	$625	$2,080

	Three Months Ended September 30,		Nine Months EndedSeptember 30,
(In millions)	2024	2023	2024	2023
Operating revenues
Electric operating revenues	$533	$497	$1,281	$1,150
Revenues from alternative revenue programs	6	5	(3)	21
Operating revenues from affiliates	1	—	2	1
Total operating revenues	540	502	1,280	1,172
Operating expenses
Purchased power	245	221	557	493
Operating and maintenance	58	56	155	147
Operating and maintenance from affiliates	38	38	119	112
Depreciation and amortization	67	77	214	212
Taxes other than income taxes	2	2	7	7
Total operating expenses	410	394	1,052	971
Operating income	130	108	228	201
Other income and (deductions)
Interest expense, net	(21)	(19)	(59)	(52)
Other, net	4	5	12	13
Total other income and (deductions)	(17)	(14)	(47)	(39)
Income before income taxes	113	94	181	162
Income taxes	30	23	48	40
Net income	$83	$71	$133	$122
Comprehensive income	$83	$71	$133	$122

	Nine Months EndedSeptember 30,
(In millions)	2024	2023
Cash flows from operating activities
Net income	$133	$122
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	214	212
Deferred income taxes and amortization of investment tax credits	33	24
Other non-cash operating activities	49	(2)
Changes in assets and liabilities:
Accounts receivable	(77)	(85)
Receivables from and payables to affiliates, net	(8)	(6)
Inventories	(5)	(11)
Accounts payable and accrued expenses	(18)	(4)
Collateral paid, net	—	(45)
Income taxes	(2)	6
Regulatory assets and liabilities, net	(62)	(28)
Pension and non-pension postretirement benefit contributions	(7)	(1)
Other assets and liabilities	(39)	(80)
Net cash flows provided by operating activities	211	102
Cash flows from investing activities
Capital expenditures	(265)	(376)
Net cash flows used in investing activities	(265)	(376)
Cash flows from financing activities
Changes in short-term borrowings	(30)	173
Issuance of long-term debt	250	75
Retirement of long-term debt	(150)	—
Changes in PHI intercompany money pool	—	17
Dividends paid on common stock	(100)	(111)
Contributions from parent	85	65
Other financing activities	(5)	(3)
Net cash flows provided by financing activities	50	216
Decrease in cash and cash equivalents	(4)	(58)
Cash and cash equivalents at beginning of period	21	72
Cash and cash equivalents at end of period	$17	$14
Supplemental cash flow information
Decrease in capital expenditures not paid	$(10)	$(56)

(In millions)	September 30, 2024	December 31, 2023
ASSETS
Current assets
Cash and cash equivalents	$17	$21
Accounts receivable
Customer accounts receivable	252	194
Customer allowance for credit losses	(35)	(36)
Customer accounts receivable, net	217	158
Other accounts receivable	98	92
Other allowance for credit losses	(13)	(14)
Other accounts receivable, net	85	78
Receivables from affiliates	5	3
Inventories, net	60	55
Prepaid utility taxes	9	—
Regulatory assets	102	125
Other	7	5
Total current assets	502	445
Property, plant, and equipment (net of accumulated depreciation and amortization of $1,763 and $1,684 as of September 30, 2024 and December 31, 2023, respectively)	4,300	4,192
Deferred debits and other assets
Regulatory assets	496	483
Prepaid pension asset	—	3
Other	31	34
Total deferred debits and other assets	527	520
Total assets	$5,329	$5,157

(In millions)	September 30, 2024	December 31, 2023
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities
Short-term borrowings	$169	$199
Long-term debt due within one year	4	154
Accounts payable	162	192
Accrued expenses	42	42
Payables to affiliates	19	25
Customer deposits	23	23
Regulatory liabilities	8	6
PPA termination obligation	10	49
Other	9	12
Total current liabilities	446	702
Long-term debt	1,931	1,679
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	809	771
Regulatory liabilities	148	140
Non-pension postretirement benefit obligations	2	4
Other	63	49
Total deferred credits and other liabilities	1,022	964
Total liabilities	3,399	3,345
Commitments and contingencies
Shareholder's equity
Common stock	1,915	1,830
Retained earnings (deficit)	15	(18)
Total shareholder's equity	1,930	1,812
Total liabilities and shareholder's equity	$5,329	$5,157

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.