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Midas Edge

ATLANTIC CITY ELECTRIC CO

For the period ended Jun 30, 2025. Filed Jul 31, 2025.

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, 2025 · Filed Jul 31, 2025

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

Statements of Changes in Shareholder's Equity

Six Months Ended June 30, 2025
(In millions)CommonStockRetainedEarningsTotalShareholder'sEquity
Balance at December 31, 2024$3,483$2,403$5,886
Net income—260260
Common stock dividends—(98)(98)
Balance at March 31, 2025$3,483$2,565$6,048
Net income—5555
Common stock dividends—(98)(98)
Balance at June 30, 2025$3,483$2,522$6,005
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
Three Months Ended June 30,Six Months EndedJune 30,
(In millions)2025202420252024
Operating revenues
Electric operating revenues$1,573$1,455$3,264$2,941
Natural gas operating revenues3328120100
Revenues from alternative revenue programs(29)(14)(32)32
Operating revenues from affiliates2254
Total operating revenues1,5791,4713,3573,077
Operating expenses
Purchased power5905531,2731,160
Purchased fuel1194937
Operating and maintenance291231586506
Operating and maintenance from affiliates4950103101
Depreciation and amortization233235467481
Taxes other than income taxes136126276254
Total operating expenses1,3101,2042,7542,539
Gain on sale of assets2—1—
Operating income271267604538
Other income and (deductions)
Interest expense, net(102)(92)(201)(183)
Interest expense to affiliates, net(1)—(2)—
Other, net17293557
Total other income and (deductions)(86)(63)(168)(126)
Income before income taxes185204436412
Income taxes42469986
Net income$143$158$337$326
Comprehensive income$143$158$337$326
Six Months EndedJune 30,
(In millions)20252024
Cash flows from operating activities
Net income$337$326
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization467481
Deferred income taxes and amortization of investment tax credits4726
Other non-cash operating activities12847
Changes in assets and liabilities:
Accounts receivable(80)(77)
Receivables from and payables to affiliates, net(14)3
Inventories(37)(25)
Accounts payable and accrued expenses3990
Collateral received, net82
Income taxes(34)(54)
Regulatory assets and liabilities, net(76)(126)
Pension and non-pension postretirement benefit contributions(45)(75)
Other assets and liabilities(39)(81)
Net cash flows provided by operating activities701537
Cash flows from investing activities
Capital expenditures(1,108)(903)
Proceeds from sales of long-lived assets2—
Net cash flows used in investing activities(1,106)(903)
Cash flows from financing activities
Changes in short-term borrowings(300)(394)
Issuance of long-term debt425925
Retirement of long-term debt—(400)
Changes in Exelon intercompany money pool(3)(8)
Distributions to member(292)(282)
Contributions from member522487
Other financing activities(13)(25)
Net cash flows provided by financing activities339303
Decrease in cash, restricted cash, and cash equivalents(66)(63)
Cash, restricted cash, and cash equivalents at beginning of period163204
Cash, restricted cash, and cash equivalents at end of period$97$141
Supplemental cash flow information
Decrease in capital expenditures not paid$(137)$(25)
(In millions)June 30, 2025December 31, 2024
ASSETS
Current assets
Cash and cash equivalents$67$139
Restricted cash and cash equivalents3024
Accounts receivable
Customer accounts receivable896827
Customer allowance for credit losses(123)(108)
Customer accounts receivable, net773719
Other accounts receivable278284
Other allowance for credit losses(52)(49)
Other accounts receivable, net226235
Receivables from affiliates118
Inventories, net
Fossil fuel47
Materials and supplies365325
Prepaid utility taxes4770
Regulatory assets320323
Prepaid renewable energy credits100194
Other4836
Total current assets1,9912,080
Property, plant, and equipment (net of accumulated depreciation and amortization of $4,051 and $3,728 as of June 30, 2025 and December 31, 2024, respectively)20,63620,053
Deferred debits and other assets
Regulatory assets1,5411,570
Goodwill4,0054,005
Investments153152
Prepaid pension asset244252
Other126185
Total deferred debits and other assets6,0696,164
Total assets$28,696$28,297
(In millions)June 30, 2025December 31, 2024
LIABILITIES AND MEMBER'S EQUITY
Current liabilities
Short-term borrowings$230$530
Long-term debt due within one year214290
Accounts payable659721
Accrued expenses305367
Payables to affiliates5566
Borrowings from Exelon intercompany money pool6063
Customer deposits116113
Regulatory liabilities7669
Unamortized energy contract liabilities55
Renewable energy credit obligations137217
Other103124
Total current liabilities1,9602,565
Long-term debt9,3218,834
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits3,2673,190
Regulatory liabilities753794
Asset retirement obligations6967
Non-pension postretirement benefit obligations2731
Unamortized energy contract liabilities1821
Other392473
Total deferred credits and other liabilities4,5264,576
Total liabilities15,80715,975
Commitments and contingencies
Member's equity
Membership interest13,08412,562
Undistributed losses(195)(240)
Total member's equity12,88912,322
Total liabilities and member's equity$28,696$28,297
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.