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Midas Edge

ATLANTIC CITY ELECTRIC CO

For the period ended Sep 30, 2025. Filed Nov 4, 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.

Sep 30, 2025 · Filed Nov 4, 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

Consolidated Statements of Changes in Shareholders' Equity

Nine Months Ended September 30, 2025
(In millions)CommonStockOtherPaid-InCapitalRetainedEarningsTotalShareholders’Equity
Balance at December 31, 2024$1,588$10,628$2,664$14,880
Net income——302302
Common stock dividends——(203)(203)
Contributions from parent—87—87
Balance at March 31, 2025$1,588$10,715$2,763$15,066
Net income——228228
Common stock dividends——(204)(204)
Contributions from parent————
Balance at June 30, 2025$1,588$10,715$2,787$15,090
Net income——373373
Common stock dividends——(203)(203)
Contributions from parent—21—21
Balance at September 30, 2025$1,588$10,736$2,957$15,281
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
Three Months Ended September 30,Nine Months EndedSeptember 30,
(In millions)2025202420252024
Operating revenues
Electric operating revenues$1,093$952$2,932$2,529
Natural gas operating revenues8269578436
Revenues from alternative revenue programs25(6)3
Operating revenues from affiliates3497
Total operating revenues1,1801,0303,5132,975
Operating expenses
Purchased power4283721,093977
Purchased fuel1814195136
Operating and maintenance183251690695
Operating and maintenance from affiliates5862182181
Depreciation and amortization115108336318
Taxes other than income taxes6961183164
Total operating expenses8718682,6792,471
Gain on sales of assets———4
Operating income309162834508
Other income and (deductions)
Interest expense, net(63)(55)(179)(161)
Interest expense to affiliates, net(2)(3)(9)(9)
Other, net1192927
Total other income and (deductions)(54)(49)(159)(143)
Income before income taxes255113675365
Income taxes5(4)239
Net income$250$117$652$356
Comprehensive income$250$117$652$356
Nine Months EndedSeptember 30,
(In millions)20252024
Cash flows from operating activities
Net income$652$356
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization336318
Gain on sales of assets—(4)
Deferred income taxes and amortization of investment tax credits(60)(27)
Other non-cash operating activities6958
Changes in assets and liabilities:
Accounts receivable(94)(75)
Receivables from and payables to affiliates, net(8)(2)
Inventories(8)(2)
Accounts payable and accrued expenses(4)(65)
Collateral (paid) received, net6—
Income taxes13(55)
Regulatory assets and liabilities, net(26)17
Pension and non-pension postretirement benefit contributions(11)(3)
Other assets and liabilities(10)(19)
Net cash flows provided by operating activities855497
Cash flows from investing activities
Capital expenditures(1,334)(1,125)
Changes in Exelon intercompany money pool(222)(89)
Other investing activities15
Net cash flows used in investing activities(1,555)(1,209)
Cash flows from financing activities
Changes in short-term borrowings(192)(165)
Issuance of long-term debt1,050575
Dividends paid on common stock(410)(300)
Contributions from parent578595
Other financing activities(10)(7)
Net cash flows provided by financing activities1,016698
Increase (decrease) in cash, restricted cash, and cash equivalents316(14)
Cash, restricted cash, and cash equivalents at beginning of period4851
Cash, restricted cash, and cash equivalents at end of period$364$37
Supplemental cash flow information
Increase in capital expenditures not paid$81$60
(In millions)September 30, 2025December 31, 2024
ASSETS
Current assets
Cash and cash equivalents$364$48
Accounts receivable
Customer accounts receivable697670
Customer allowance for credit losses(145)(133)
Customer accounts receivable, net552537
Other accounts receivable156145
Other allowance for credit losses(17)(18)
Other accounts receivable, net139127
Receivables from affiliates2—
Receivable from Exelon intercompany money pool222—
Inventories, net
Fossil fuel4637
Materials and supplies7679
Prepaid utility taxes182
Prepaid renewable energy credits3651
Regulatory assets6665
Other3127
Total current assets1,552973
Property, plant, and equipment (net of accumulated depreciation and amortization of $4,080 and $4,042 as of September 30, 2025 and December 31, 2024, respectively)15,49014,392
Deferred debits and other assets
Regulatory assets1,2311,003
Receivable related to Regulatory Agreement Units428247
Investments4341
Prepaid pension asset443435
Other4032
Total deferred debits and other assets2,1851,758
Total assets$19,227$17,123
(In millions)September 30, 2025December 31, 2024
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities
Short-term borrowings$—$192
Long-term debt due within one year350350
Accounts payable753639
Accrued expenses150166
Payables to affiliates3541
Customer deposits8780
Renewable energy credit obligations3752
Regulatory liabilities154122
Other5028
Total current liabilities1,6161,670
Long-term debt6,3965,354
Long-term debt to financing trusts184184
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits2,5572,433
Regulatory liabilities433253
Asset retirement obligations2627
Non-pension postretirement benefit obligations288287
Other92100
Total deferred credits and other liabilities3,3963,100
Total liabilities11,59210,308
Commitments and contingencies
Shareholder’s equity
Common stock5,2234,645
Retained earnings2,4122,170
Total shareholder’s equity7,6356,815
Total liabilities and shareholder's equity$19,227$17,123
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.