ATLANTIC CITY ELECTRIC CO
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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FY2025 · Filed Feb 12, 2026
EXC$45.53-0.3%Stored close · as of Nov 10, 2026
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ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
| ITEM 15. | EXHIBITS, FINANCIAL STATEMENT SCHEDULES |
|---|
(a)The following documents are filed as a part of this report:
(1) Exelon
| (i) | Financial Statements (Item 8): |
|---|---|
| Report of Independent Registered Public Accounting Firm dated February 12, 2026 of PricewaterhouseCoopers LLP (PCAOB ID 238) | |
| Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2025, 2024, and 2023 | |
| Notes to Consolidated Financial Statements | |
| (ii) | Financial Statement Schedules: |
| Schedule I—Condensed Financial Information of Parent (Exelon Corporate) at December 31, 2025 and 2024 and for the Years Ended December 31, 2025, 2024, and 2023 | |
| Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto. |
Condensed Statements of Operations and Other Comprehensive Income
| For the Years Ended December 31, | |||
|---|---|---|---|
| (In millions) | 2025 | 2024 | 2023 |
| Operating expenses | |||
| Operating and maintenance | $92 | $7 | $88 |
| Operating and maintenance from affiliates | 8 | 8 | 7 |
| Other | 1 | 1 | 1 |
| Total operating expenses | 101 | 16 | 96 |
| Operating loss | (101) | (16) | (96) |
| Other income and (deductions) | |||
| Interest expense, net | (684) | (593) | (544) |
| Equity in earnings of investments | 3,335 | 2,887 | 2,728 |
| Interest income from affiliates, net | 11 | 15 | 9 |
| Other, net | 28 | 22 | 19 |
| Total other income and (deductions) | 2,690 | 2,331 | 2,212 |
| Income from before income taxes | 2,589 | 2,315 | 2,116 |
| Income taxes | (179) | (145) | (212) |
| Net income | $2,768 | $2,460 | $2,328 |
| Other comprehensive income (loss), net of income taxes | |||
| Pension and non-pension postretirement benefit plans: | |||
| Actuarial losses reclassified to periodic benefit cost | 22 | 28 | 26 |
| Pension and non-pension postretirement benefit plans valuation adjustments | (52) | (70) | (109) |
| Unrealized (loss) gain on cash flow hedges | (12) | 48 | (5) |
| Other comprehensive (loss) income | (42) | 6 | (88) |
| Comprehensive income | $2,726 | $2,466 | $2,240 |
Condensed Statements of Cash Flows
| For the Years Ended December 31, | |||
|---|---|---|---|
| (In millions) | 2025 | 2024 | 2023 |
| Net cash flows provided by operating activities | $1,775 | $2,022 | $1,486 |
| Cash flows from investing activities | |||
| Changes in Exelon intercompany money pool | (33) | 8 | (43) |
| Investment in affiliates | (2,055) | (1,568) | (1,864) |
| Other investing activities | (1) | (2) | (1) |
| Net cash flows used in investing activities | (2,089) | (1,562) | (1,908) |
| Cash flows from financing activities | |||
| Changes in short-term borrowings | (427) | (99) | 78 |
| Proceeds from short-term borrowings with maturities greater than 90 days | — | 150 | — |
| Repayments on short-term borrowings with maturities greater than 90 days | (500) | (150) | — |
| Issuance of long-term debt | 3,000 | 1,700 | 2,500 |
| Retirement of long-term debt | (810) | (715) | (850) |
| Issuance of common stock | 691 | 148 | 140 |
| Dividends paid on common stock | (1,615) | (1,523) | (1,433) |
| Proceeds from employee stock plans | 35 | 43 | 41 |
| Other financing activities | (40) | (36) | (39) |
| Net cash flows provided by (used in) financing activities | 334 | (482) | 437 |
| Increase (decrease) in cash, restricted cash, and cash equivalents | 20 | (22) | 15 |
| Cash, restricted cash, and cash equivalents at beginning of period | 4 | 26 | 11 |
| Cash, restricted cash, and cash equivalents at end of period | $24 | $4 | $26 |
Condensed Balance Sheets
| December 31, | ||
|---|---|---|
| (In millions) | 2025 | 2024 |
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $24 | $4 |
| Accounts receivable, net | ||
| Other accounts receivable | 622 | 288 |
| Accounts receivable from affiliates | 10 | 19 |
| Notes receivable from affiliates | 250 | 217 |
| Regulatory assets | 165 | 186 |
| Other | 7 | 19 |
| Total current assets | 1,078 | 733 |
| Property, plant, and equipment, net | 45 | 45 |
| Deferred debits and other assets | ||
| Regulatory assets | 2,925 | 2,851 |
| Investments in affiliates | 43,670 | 40,741 |
| Deferred income taxes | 546 | 747 |
| Non-pension postretirement benefit asset | 128 | 186 |
| Other | 136 | 149 |
| Total deferred debits and other assets | 47,405 | 44,674 |
| Total assets | $48,528 | $45,452 |
Condensed Balance Sheets
| December 31, | ||
|---|---|---|
| (In millions) | 2025 | 2024 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Current liabilities | ||
| Short-term borrowings | $— | $927 |
| Long-term debt due within one year | 750 | 807 |
| Accounts payable | 177 | 142 |
| Accrued expenses | 188 | 155 |
| Payables to affiliates | 361 | 360 |
| Regulatory liabilities | 8 | 11 |
| Pension obligations | 36 | 40 |
| Other | 46 | 3 |
| Total current liabilities | 1,566 | 2,445 |
| Long-term debt | 13,547 | 11,334 |
| Deferred credits and other liabilities | ||
| Regulatory liabilities | 89 | 94 |
| Pension obligations | 4,398 | 4,346 |
| Deferred income taxes | 53 | 50 |
| Other | 77 | 262 |
| Total deferred credits and other liabilities | 4,617 | 4,752 |
| Total liabilities | 19,730 | 18,531 |
| Commitments and contingencies | ||
| Shareholders’ equity | ||
| Common stock (No par value, 2,000 shares authorized, 1,023 shares and 1,005 shares outstanding as of December 31, 2025 and 2024, respectively) | 22,106 | 21,338 |
| Treasury stock, at cost (2 shares as of December 31, 2025 and 2024) | (123) | (123) |
| Retained earnings | 7,577 | 6,426 |
| Accumulated other comprehensive loss, net | (762) | (720) |
| Total shareholders’ equity | 28,798 | 26,921 |
| Total liabilities and shareholders’ equity | $48,528 | $45,452 |
- Basis of Presentation
Exelon Corporate is a holding company that conducts substantially all of its business operations through its subsidiaries. These condensed financial statements and related footnotes have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X. These statements should be read in conjunction with the consolidated financial statements, and notes thereto, of Exelon Corporation.
As of December 31, 2025, 2024, and 2023, Exelon Corporate owned 100% of all of its significant subsidiaries, either directly or indirectly, except for Commonwealth Edison Company (ComEd), of which Exelon Corporate owns more than 99%.
- Regulatory Matters and Retirement Benefits
See Note 2—Regulatory Matters and Note 12—Retirement Benefits of the Combined Notes to Consolidated Financial Statements for Exelon Corporate’s regulatory assets and retirement benefits.
- Derivative Financial Instruments
See Note 13—Derivative Financial Instruments of the Combined Notes to Consolidated Financial Statements for Exelon Corporate’s derivatives.
- Debt and Credit Agreements
Short-Term Borrowings
Exelon Corporate meets its short-term liquidity requirements primarily through the issuance of commercial paper. Exelon Corporate hadno outstanding commercial paper borrowings as of December 31, 2025 and $426 million outstanding commercial paper as of December 31, 2024.
Revolving Credit Agreements
On August 29, 2024, Exelon Corporate entered into a revolving credit facility with an aggregate bank commitment of $900 million at a variable interest rate of SOFR plus 1.075%, which replaced its existing $900 million syndicated revolving credit facility, and extended the maturity date to August 29, 2029.
As of December 31, 2025, Exelon Corporate had a $900 million aggregate bank commitment under its existing syndicated revolving facility in which $897 million was available to support additional commercial paper as of December 31, 2025. Exelon Corporate had $3 million outstanding letters of credit as of December 31, 2025. See Note 14 — Debt and Credit Agreements of the Combined Notes to Consolidated Financial Statements for additional information regarding Exelon Corporate’s credit agreement.
Exelon Corporate hadno outstanding amounts on the revolving credit facilities as of December 31, 2025.
Short-Term Loan Agreements
On March 23, 2017, Exelon Corporate entered into a term loan agreement for $500 million. The loan agreement was renewed in the first quarter of 2024 and was bifurcated into two tranches of $350 million and $150 million on March 14, 2024. The loan agreements were renewed in the first quarter of 2025, extending the expiration date to March 13, 2026 with a variable interest rate equal to SOFR plus 1.00%. Exelon Corporate repaid the term loan on December 5, 2025.
Convertible Senior Notes
On December 4, 2025, Exelon Corporation issued $1 billion aggregate principal amount of 3.25% Convertible Senior Notes due 2029. The Convertible Senior Notes bear interest at 3.25% per year, payable semiannually, and mature on March 15, 2029. The Convertible Notes are convertible into cash or a combination of cash and shares of common stock at Exelon's discretion, with an initial conversion price of approximately $57.11 per share. See Note 14 — Debt and Credit Agreements of the Combined Notes to Consolidated Financial Statements for additional information on the Convertible Senior Notes.
Debt Extinguishment
During the twelve months ended December 31, 2024, Exelon Corporate repurchased a portion of its Senior unsecured notes with a principal balance of $244 million outstanding in exchange for cash of $215 million. The repurchase was accounted for as a debt extinguishment and resulted in a pre-tax gain of $28 million, which is reflected on Exelon Corporate's Condensed Statement of Operations and Comprehensive income within Interest expense, net.
Long-Term Debt
The following tables present the outstanding long-term debt for Exelon Corporate at December 31, 2025 and December 31, 2024:
| MaturityDate · December 31, | ||||||
|---|---|---|---|---|---|---|
| Rates · 2025 · 2024 | ||||||
| Long-term debt | ||||||
| Senior unsecured notes | 2.75% | - | 7.60% | 2026 - 2055 | $13,288 | $12,095 |
| Junior subordinated notes | 6.50% | 2055 | 1,000 | — | ||
| Total long-term debt | 14,288 | 12,095 | ||||
| Unamortized debt discount and premium, net | (24) | (24) | ||||
| Unamortized debt issuance costs | (96) | (71) | ||||
| Fair value adjustment | 129 | 141 | ||||
| Long-term debt due within one year(a) | (750) | (807) | ||||
| Long-term debt | $13,547 | $11,334 | ||||
The long-term debt maturities for Exelon Corporate for the periods 2026 through 2030 and thereafter are as follows:
| 2026 | $750 |
| 2027 | 650 |
| 2028 | 1,000 |
| 2029 | 1,650 |
| 2030 | 1,250 |
| Thereafter | 8,988 |
| Total long-term debt | $14,288 |
- Commitments and Contingencies
See Note 16—Commitments and Contingencies of the Combined Notes to Consolidated Financial Statements for Exelon Corporate’s commitments and contingencies.
- Related Party Transactions
The financial statements of Exelon Corporate include related party transactions as presented in the tables below:
| For the Years Ended December 31, | |||
|---|---|---|---|
| (In millions) | 2025 | 2024 | 2023 |
| Operating and maintenance from affiliates: | |||
| BSC(a) | $8 | $8 | $7 |
| Total operating and maintenance from affiliates: | $8 | $8 | $7 |
| Interest income (expense) from affiliates, net: | |||
| BSC | $8 | $11 | $6 |
| EEDC(b) | 3 | 4 | 3 |
| Total interest income from affiliates, net: | $11 | $15 | $9 |
| Equity in earnings (losses) of investments: | |||
| EEDC(b) | $3,339 | $2,886 | $2,727 |
| PCI | 3 | 3 | 2 |
| Connectiv, LLC | (1) | (2) | — |
| Exelon Enterprises | 1 | — | 1 |
| Exelon InQB8R | — | — | (2) |
| Exelon Transmission Company | (6) | — | — |
| Other | (1) | — | — |
| Total equity in earnings of investments: | $3,335 | $2,887 | $2,728 |
| Cash contributions received from affiliates | $2,464 | $2,250 | $1,978 |
| At December 31, | ||
|---|---|---|
| (in millions) | 2025 | 2024 |
| Accounts receivable from affiliates (current): | ||
| BSC | $2 | $2 |
| ComEd | 1 | 5 |
| PECO | — | 3 |
| BGE | — | 2 |
| PHISCO | 7 | 7 |
| Total accounts receivable from affiliates (current): | $10 | $19 |
| Notes receivable from affiliates (current): | ||
| BSC(a) | $170 | $154 |
| PHI | 80 | 63 |
| Total notes receivable from affiliates (current): | $250 | $217 |
| Investments in affiliates: | ||
| BSC(a) | $384 | $384 |
| EEDC(b) | 42,847 | 39,905 |
| PCI | 60 | 57 |
| UII | 360 | 365 |
| Voluntary Employee Beneficiary Association trust | 5 | — |
| Exelon Enterprises | 5 | 4 |
| Conectiv | 13 | 14 |
| Exelon InQB8R | — | 13 |
| Other | (4) | (1) |
| Total investments in affiliates: | $43,670 | $40,741 |
| Accounts payable to affiliates (current): | ||
| UII | $361 | $360 |
| BSC(a) | — | — |
| Total accounts payable to affiliates (current): | $361 | $360 |
(a)Exelon Corporate receives a variety of corporate support services from BSC, including legal, human resources, financial, information technology, and supply management services. All services are provided at cost, including applicable overhead.
(b)EEDC consists of ComEd, PECO, BGE, PHI, Pepco, DPL, and ACE.
Charitable Contributions
In December 2025, Exelon Corporation made an unconditional promise to give $30 million to the Exelon Foundation. The contribution was recorded in Operating and maintenance expense within the Condensed Statements of Operations and Comprehensive Income with the offset in Other current liabilities on the Condensed Balance Sheets.
| Column A · Column B · Column C · Column D · Column E | |||||
|---|---|---|---|---|---|
| Additions and adjustments | |||||
| Description | Balance atBeginningof Period | Charged toCosts andExpenses | Chargedto OtherAccounts | Deductions | Balance atEndof Period |
| (In millions) | |||||
| Allowance for credit losses(a) | $513 | $290(b) | $23 | $297(c) | $529 |
| Deferred tax valuation allowance | 120 | — | 20 | — | 140 |
| Allowance for credit losses(a) | $399 | $271(b) | $22 | $179(c) | $513 |
| Deferred tax valuation allowance | 114 | — | 6 | — | 120 |
| Allowance for credit losses(a) | $409 | $171(b) | $20 | $201(c) | $399 |
| Deferred tax valuation allowance | 94 | — | 20 | — | 114 |
(a)Excludes the noncurrent Allowance for credit losses related to PECO’s installment plan receivables of $13 million, $13 million, and $6 million for the years ended December 31, 2025, 2024, and 2023, respectively.
(b)The amount charged to costs and expenses includes the amount reclassified to Regulatory assets/liabilities under different mechanisms applicable to the different jurisdictions in which the Utility Registrants operate.
(c)Primarily reflects write-offs, net of recoveries, of individual accounts receivable.
(2) ComEd
| (i) | Financial Statements (Item 8): |
|---|---|
| Report of Independent Registered Public Accounting Firm dated February 12, 2026 of PricewaterhouseCoopers LLP (PCAOB ID 238) | |
| Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2025, 2024, and 2023 | |
| Consolidated Statements of Changes in Shareholders’ Equity for the Years Ended December 31, 2025, 2024, and 2023 | |
| Notes to Consolidated Financial Statements | |
| (ii) | Financial Statement Schedule: |
| Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto |
| Column A · Column B · Column C · Column D · Column E | |||||
|---|---|---|---|---|---|
| Additions and adjustments | |||||
| Description | Balance atBeginningof Period | Charged toCosts andExpenses | Chargedto OtherAccounts | Deductions | Balance atEndof Period |
| (In millions) | |||||
| Allowance for credit losses | $143 | $80(a) | $20 | $105(b) | $138 |
| Allowance for credit losses | $86 | $71(a) | $28 | $42(b) | $143 |
| Allowance for credit losses | $76 | $45(a) | $13 | $48(b) | $86 |
(a)ComEd is allowed to recover from or refund to customers the difference between its annual credit loss expense and the amounts collected in rates annually through a rider mechanism. The amount charged to costs and expenses includes the amount that was reclassified to Regulatory assets/liabilities under such mechanism. See Note 2 – Regulatory Matters of the Combined Notes to Consolidated Financial Statements for additional information.
(3) PECO
| (i) | Financial Statements (Item 8): |
|---|---|
| Report of Independent Registered Public Accounting Firm dated February 12, 2026 of PricewaterhouseCoopers LLP (PCAOB ID 238) | |
| Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2025, 2024, and 2023 | |
| Consolidated Statements of Changes in Shareholder's Equity for the Years Ended December 31, 2025, 2024, and 2023 | |
| Notes to Consolidated Financial Statements | |
| (ii) | Financial Statement Schedule: |
| Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto |
| Column A · Column B · Column C · Column D · Column E | |||||
|---|---|---|---|---|---|
| Additions and adjustments | |||||
| Description | Balance atBeginningof Period | Charged toCosts andExpenses | Chargedto OtherAccounts | Deductions | Balance atEndof Period |
| (In millions) | |||||
| Allowance for credit losses(a) | $151 | $98 | $7 | $101(c) | $155 |
| Deferred tax valuation allowance | 6 | — | — | — | 6 |
| Allowance for credit losses(a) | $103 | $88 | $(1) | $39(c) | $151 |
| Deferred tax valuation allowance | 7 | — | (1) | — | 6 |
| Allowance for credit losses(a) | $114 | $43(b) | $9 | $63(c) | $103 |
| Deferred tax valuation allowance | 7 | — | — | — | 7 |
(a)Excludes the noncurrent Allowance for credit losses related to PECO’s installment plan receivables of $13 million, $13 million, and $6 million for the years ended December 31, 2025, 2024, and 2023, respectively.
(b)The amount charged to costs and expenses includes the amount that was reclassified to the COVID-19 regulatory asset. See Note 2 – Regulatory Matters of the Combined Notes to Consolidated Financial Statements for additional information.
(c)Write-offs, net of recoveries of individual accounts receivable.
(4) BGE
| (i) | Financial Statements (Item 8): |
|---|---|
| Report of Independent Registered Public Accounting Firm dated February 12, 2026 of PricewaterhouseCoopers LLP (PCAOB ID 238) | |
| Notes to Financial Statements | |
| (ii) | Financial Statement Schedule: |
| Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto |
| Column A · Column B · Column C · Column D · Column E | |||||
|---|---|---|---|---|---|
| Additions and adjustments | |||||
| Description | Balance atBeginningof Period | Charged toCosts andExpenses | Chargedto OtherAccounts | Deductions | Balance atEndof Period |
| (In millions) | |||||
| Allowance for credit losses | $62 | $44(a) | $(3) | $31(b) | $72 |
| Deferred tax valuation allowance | 3 | — | — | — | 3 |
| Allowance for credit losses | $53 | $39(a) | $4 | $34(b) | $62 |
| Deferred tax valuation allowance | 3 | — | — | — | 3 |
| Allowance for credit losses | $64 | $26(a) | $5 | $42(b) | $53 |
| Deferred tax valuation allowance | 3 | — | — | — | 3 |
(a)The amount charged to costs and expenses includes the amount that was reclassified to Regulatory assets/liabilities under different mechanisms as approved by the MDPSC.
(5) PHI
| (i) | Financial Statements (Item 8): |
|---|---|
| Report of Independent Registered Public Accounting Firm dated February 12, 2026 of PricewaterhouseCoopers LLP (PCAOB ID 238) | |
| Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2025, 2024, and 2023 | |
| Notes to Consolidated Financial Statements | |
| (ii) | Financial Statement Schedule: |
| Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto |
| Column A · Column B · Column C · Column D · Column E | |||||
|---|---|---|---|---|---|
| Additions and adjustments | |||||
| Description | Balance atBeginningof Period | Charged toCosts andExpenses | Chargedto OtherAccounts | Deductions | Balance atEndof Period |
| (In millions) | |||||
| Allowance for credit losses | $157 | $68(a) | $(1) | $60(b) | $164 |
| Deferred tax valuation allowance | 32 | — | — | — | 32 |
| Allowance for credit losses | $157 | $73(a) | $(9) | $64(b) | $157 |
| Deferred tax valuation allowance | 35 | — | (3) | — | 32 |
| Allowance for credit losses | $155 | $57(a) | $(7) | $48(b) | $157 |
| Deferred tax valuation allowance | 35 | — | — | — | 35 |
(a)The amount charged to costs and expenses includes the amount that was reclassified to Regulatory assets/liabilities under different mechanisms applicable to the different jurisdictions Pepco, DPL, and ACE operate in.
(6) Pepco
| (i) | Financial Statements (Item 8): |
|---|---|
| Report of Independent Registered Public Accounting Firm dated February 12, 2026 of PricewaterhouseCoopers LLP (PCAOB ID 238) | |
| Notes to Financial Statements | |
| (ii) | Financial Statement Schedule: |
| Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto |
| Column A · Column B · Column C · Column D · Column E | |||||
|---|---|---|---|---|---|
| Additions and adjustments | |||||
| Description | Balance atBeginningof Period | Charged toCosts andExpenses | Chargedto OtherAccounts | Deductions | Balance atEndof Period |
| (In millions) | |||||
| Allowance for credit losses | $86 | $42(a) | $(2) | $31(b) | $95 |
| Allowance for credit losses | $80 | $48(a) | $(10) | $32(b) | $86 |
| Allowance for credit losses | $72 | $31(a) | $(5) | $18(b) | $80 |
(a)The amount charged to costs and expenses includes the amount that was reclassified to Regulatory assets/liabilities under different mechanisms as approved by the DCPSC and MDPSC.
(7) DPL
| (i) | Financial Statements (Item 8): |
|---|---|
| Report of Independent Registered Public Accounting Firm dated February 12, 2026 of PricewaterhouseCoopers LLP (PCAOB ID 238) | |
| Notes to Financial Statements | |
| (ii) | Financial Statement Schedule: |
| Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto |
| Column A · Column B · Column C · Column D · Column E | |||||
|---|---|---|---|---|---|
| Additions and adjustments | |||||
| Description | Balance atBeginningof Period | Charged toCosts andExpenses | Chargedto OtherAccounts | Deductions | Balance atEndof Period |
| (In millions) | |||||
| Allowance for credit losses | $26 | $17(a) | $— | $14(b) | $29 |
| Deferred tax valuation allowance | 29 | — | — | — | 29 |
| Allowance for credit losses | $27 | $11(a) | $— | $12(b) | $26 |
| Deferred tax valuation allowance | 32 | — | (3) | — | 29 |
| Allowance for credit losses | $28 | $10(a) | $— | $11(b) | $27 |
| Deferred tax valuation allowance | 32 | — | — | — | 32 |
(a)The amount charged to costs and expenses includes the amount that was reclassified to Regulatory assets/liabilities under different mechanisms as approved by the DEPSC and MDPSC.
(8) ACE
| (i) | Financial Statements (Item 8): |
|---|---|
| Report of Independent Registered Public Accounting Firm dated February 12, 2026 of PricewaterhouseCoopers LLP (PCAOB ID 238) | |
| Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2025, 2024, and 2023 | |
| Consolidated Statements of Changes in Shareholder's Equity for the Years Ended December 31, 2025, 2024, and 2023 | |
| Notes to Consolidated Financial Statements | |
| (ii) | Financial Statement Schedule: |
| Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto |
| Column A · Column B · Column C · Column D · Column E | |||||
|---|---|---|---|---|---|
| Additions and adjustments | |||||
| Description | Balance atBeginningof Period | Charged toCosts andExpenses | Chargedto OtherAccounts | Deductions | Balance atEndof Period |
| (In millions) | |||||
| Allowance for credit losses | $45 | $9(a) | $1 | $15(b) | $40 |
| Allowance for credit losses | $50 | $14(a) | 1 | $20(b) | $45 |
| Allowance for credit losses | $55 | $16(a) | $(2) | $19(b) | $50 |
(a)ACE is allowed to recover from or refund to customers the difference between its annual credit loss expense and the amounts collected in rates annually through the Societal Benefits Charge. The amount charged to costs and expenses includes the amount that was reclassified to Regulatory assets/liabilities under such mechanism. See Note 2 – Regulatory Matters of the Combined Notes to Consolidated Financial Statements for additional information.
Exhibits required by Item 601 of Regulation S-K:
Certain of the following exhibits are incorporated herein by reference under Rule 12b-32 of the Securities and Exchange Act of 1934, as amended. Certain other instruments which would otherwise be required to be listed below have not been so listed because such instruments do not authorize securities in an amount which exceeds 10% of the total assets of the applicable registrant and its subsidiaries on a consolidated basis and the relevant registrant agrees to furnish a copy of any such instrument to the Commission upon request.
(2) Plans of acquisition, reorganization, arrangement, liquidation, or succession
| Exhibit No. | Description | Location |
| 2-1 | Separation Agreement, dated January 31, 2022, between Exelon Corporation and Constellation Energy Corporation | File No. 001-16169, Form 8K dated February 2, 2022, Exhibit 2.1 |
(3) Articles of Incorporation and Bylaws
| Exhibit No. | Description | Location |
| 3-1 | Amended and Restated Articles of Incorporation of Exelon Corporation, as amended April 30, 2024 | File No. 001-16169, Form 10-Q dated August 1, 2024, Exhibit 3.1 |
| 3-2 | Amended and Restated Bylaws of Exelon Corporation, as amended on April 30, 2024 | File No. 001-16169, Form 10-Q dated August 1, 2024, Exhibit 3.2 |
| Exhibit No. | Description | Location |
| 3-3 | Articles of Restatement to the Charter of Baltimore Gas and Electric Company, restated as of August 16, 1996 | File No. 001-01910, Form 10-Q dated November 14, 1996, Exhibit 3 |
| 3-4 | Articles of Amendment to the Charter of Baltimore Gas and Electric Company as of February 2, 2010 | File No. 001-01910, Form 8-K dated February 4, 2010, Exhibit 3.1 |
| 3-5 | Amended and Restated Bylaws of Baltimore Gas and Electric Company dated August 3, 2020 | File No. 001-01910, Form 10-Q dated August 4, 2020, Exhibit 3.4 |
| Exhibit No. | Description | Location |
| 3-6 | Restated Articles of Incorporation of Commonwealth Edison Company Effective February 20, 1985, including Statements of Resolution Establishing Series, relating to the establishment of three new series of Commonwealth Edison Company preference stock known as the “$9.00 Cumulative Preference Stock,” the “$6.875 Cumulative Preference Stock” and the “$2.425 Cumulative Preference Stock” | File No. 001-01839, Form 10-K dated March 30, 1995, Exhibit 3.2 |
| 3-7 | Amended and Restated Bylaws of Commonwealth Edison Company, Effective February 22, 2021 | File No. 001-01839, Form 10-K dated February 24, 2021, Exhibit 3.6 |
| Exhibit No. | Description | Location |
| 3-8 | Amended and Restated Articles of Incorporation of PECO Energy Company | File No. 001-01401, Form 10-K dated April 2, 2001, Exhibit 3.3 |
| 3-9 | Amended and Restated Bylaws of PECO Energy Company dated August 3, 2020 | File No. 000-16844, Form 10-Q dated August 4, 2020, Exhibit 3.3 |
Pepco Holdings LLC
| Exhibit No. | Description | Location |
| 3-10 | Certificate of Formation of Pepco Holdings LLC, dated March 23, 2016 | File No. 001-31403, Form 8-K dated March 24, 2016, Exhibit 3.2 |
| 3-11 | Amended and Restated Limited Liability Company Agreement of Pepco Holdings LLC, dated August 3, 2020 | File No. 001-31403, Form 10-Q dated August 4, 2020, Exhibit 3.5 |
Atlantic City Electric Company
| Exhibit No. | Description | Location |
| 3-12 | Restated Certificate of Incorporation of Atlantic City Electric Company (filed in New Jersey on August 9, 2002) | File No. 001-03559, Amendment No. 1 to Form U5B dated February 13, 2003, Exhibit B.8.1 |
| 3-13 | Bylaws of Atlantic City Electric Company | File No. 001-03559, Form 10-Q dated May 9, 2005, Exhibit 3.2.2 |
| Exhibit No. | Description | Location |
| 3-14 | Restated Certificate and Articles of Incorporation of Delmarva Power & Light Company (as filed in Delaware and Virginia) | File No. 001-01405, Form 10-K dated March 1, 2007, Exhibit 3.3 |
| 3-15 | Bylaws of Delmarva Power & Light Company | File No. 001-01405, Form 10-Q dated May 9, 2005, Exhibit 3.2.1 |
| Exhibit No. | Description | Location |
| 3-16 | Restated Articles of Incorporation of Potomac Electric Power Company (as filed in the District of Columbia) | File No. 001-31403, Form 10-Q dated May 5, 2006, Exhibit 3.1 |
| 3-17 | Restated Articles of Incorporation and Articles of Restatement of Potomac Electric Power Company (as filed in Virginia) | File No. 001-01072, Form 10-Q dated November 4, 2011, Exhibit 3.3 |
| 3-18 | Bylaws of Potomac Electric Power Company | File No. 001-01072, Form 10-Q dated May 5, 2006, Exhibit 3.2 |
(4) Instruments Defining the Rights of Securities Holders, Including Indentures
| Exhibit No. | Description | Location |
| 4-1 | Exelon Corporation Direct Stock Purchase Plan | File No. 333-222989, Prospectus 424(b)(2) dated June 20, 2025 |
| 4-2 | Indenture dated May 1, 2001 between Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee | File No. 001-16169, Form 10-Q dated July 26, 2005, Exhibit 4.10 |
| 4-3 | Form of $500,000,000 5.625% senior notes due 2035 dated June 9, 2005 issued by Exelon Corporation | File No. 001-16169, Form 8-K dated June 9, 2005, Exhibit 99.3 |
| 4-4 | Indenture, dated as of June 17, 2014, between Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as Trustee | File No. 001-16169, Form 8-K dated June 23, 2014, Exhibit 4.1 |
| 4-4-1 | Third Supplemental Indenture, dated as of February 1, 2025, between Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as Trustee | File No. 001-16169, Form 8-K dated February 19, 2025, Exhibit 4.2 |
| 4-5 | Indenture, dated as of June 11, 2015, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee | File No. 001-16169, Form 8-K dated June 11, 2015, Exhibit 4.1 |
| 4-5-1 | First Supplemental Indenture, dated as of June 11, 2015, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee | File No. 001-16169, Form 8-K dated June 11, 2015, Exhibit 4.2 |
| 4-5-2 | Second Supplemental Indenture, dated as of December 2, 2015, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee | File No. 001-16169, Form 8-K dated December 2, 2015, Exhibit 4.1 |
| 4-5-3 | Third Supplemental Indenture, dated as of April 7, 2016, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee | File No. 001-16169, Form 8-K dated April 7, 2016, Exhibit 4.2 |
| Exhibit No. | Description | Location |
| 4-5-4 | Fourth Supplemental Indenture, dated as of April 1, 2020, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee | File No. 001-16169, Form 8-K dated April 1, 2020, Exhibit 4.2 |
| 4-5-5 | Fifth Supplemental Indenture, dated as of March 7, 2022, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee | File No. 001-16169, Form 8-K dated March 7, 2022, Exhibit 4.2 |
| 4-5-6 | Sixth Supplemental Indenture, dated as of February 1, 2023, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee | File No. 001-16169, Form 8-K dated February 21, 2023, Exhibit 4.2 |
| 4-5-7 | Seventh Supplemental Indenture, dated as of February 27, 2024, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee | File No. 001-16169, Form 8-K dated February 27, 2024, Exhibit 4.2 |
| 4-5-8 | Eighth Supplemental Indenture, dated as of February 1, 2025, among Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee | File No. 001-16169, Form 8-K dated February 21, 2025, Exhibit 4.2 |
| 4-6 | Indenture, dated as of December 4, 2025, between Exelon Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee | File No. 001-16169, Form 8-K dated December 4, 2025, Exhibit 4.1 |
| 4-7 | Equity Distribution Agreement, dated May 2, 2025, by and among the Company, Barclays Capital Inc., BNP Paribas Securities Corp., BofA Securities, Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC, each as sales agents and as forward sellers, and Bank of America, N.A., Barclays Bank PLC, BNP Paribas, Citibank, N.A., Crédit Agricole Corporate and Investment Bank, Goldman Sachs & Co. LLC, JPMorgan Chase Bank, National Association, Mizuho Markets Americas LLC, Morgan Stanley & Co. LLC, MUFG Securities EMEA plc, Royal Bank of Canada, The Bank of Nova Scotia and Wells Fargo Bank, National Association, each as forward purchasers. | File No. 001-16169, Form 8-K dated May 2, 2025, Exhibit 1.1 |
| 4-8 | Description of Exelon Securities | Filed herewith. |
| Exhibit No. | Description | Location |
| 4-7 | Indenture dated as of July 24, 2006 between Baltimore Gas and Electric Company and Deutsche Bank Trust Company Americas, as trustee | File No. 333-135991, Registration Statement on Form S-3 dated July 24, 2006, Exhibit 4(b) |
| 4-8 | Form of 2.400% notes due 2026 issued August 18, 2016 by Baltimore Gas and Electric Company | File No. 001-01910, Form 8-K dated August 18, 2016, Exhibit 4.1 |
| 4-9 | Form of 3.500% Note due 2046 issued August 18, 2016 by Baltimore Gas and Electric Company | File No. 001-01910, Form 8-K dated August 18, 2016, Exhibit 4.2 |
| 4-10 | Form of 3.750% Note due 2047 issued August 24, 2017 by Baltimore Gas and Electric Company | File No. 001-01910, Form 8-K dated August 24, 2017, Exhibit 4.1 |
| 4-11 | Form of 4.550% Note due 2052 issued June 6, 2022 by Baltimore Gas and Electric Company | File No. 001-01910, Form 8-K dated June 6, 2022, Exhibit 4.2 |
| 4-12 | Form of 5.400% Note due 2053 issued May 10, 2023 by Baltimore Gas and Electric | File No. 001-01910, Form 8-K dated May 10, 2023, Exhibit 4.2 |
| 4-13 | Form of 5.300% Note due 2034 issued June 1, 2024 by Baltimore Gas and Electric | File No. 001-01910, Form 8-K dated June 06, 2024, Exhibit 4.1 |
| 4-14 | Form of 5.650% Note due 2054 issued June 1, 2024 by Baltimore Gas and Electric | File No. 001-01910, Form 8-K dated June 06, 2024, Exhibit 4.2 |
| 4-15 | Form of 5.450% Note due 2035 issued May 16, 2025 by Baltimore Gas and Electric | File No. 001-01910, Form 8-K dated May 16, 2025, Exhibit 4.2 |
| 4-15-1 | Indenture, dated as of September 1, 2019, between Baltimore Gas and Electric Company and U.S. Bank N.A., as trustee | File No. 001-01910, Form 8-K dated September 12, 2019, Exhibit 4.1 |
| Exhibit No. | Description | Location |
| 4-16 | Mortgage of Commonwealth Edison Company to Illinois Merchants Trust Company, Trustee (BNY Mellon Trust Company of Illinois, as current successor Trustee), dated July 1, 1923, as supplemented and amended by Supplemental Indenture thereto dated August 1, 1944 | Registration No. 2-60201, Form S-7, Exhibit 2-1(a) |
| 4-16-1 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of January 13, 2003 | File No. 001-01839, Form 8-K dated February 13, 2003, Exhibit 4.4 |
| Exhibit No. | Description | Location |
| 4-16-2 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 22, 2006 | File No. 001-01839, Form 8-K dated March 6, 2006, Exhibit 4.1 |
| 4-16-3 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of March 1, 2007 | File No. 001-01839, Form 8-K dated March 23, 2007, Exhibit 4.1 |
| 4-16-4 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of December 20, 2007 | File No. 001-01839, Form 8-K dated January 16, 2008, Exhibit 4.1 |
| 4-16-5 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of September 17, 2012 | File No. 001-01839, Form 8-K dated October 1, 2012, Exhibit 4.1 |
| 4-16-6 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of August 1, 2013 | File No. 001-01839, Form 8-K dated August 19, 2013, Exhibit 4.1 |
| 4-16-7 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of January 2, 2014 | File No. 001-01839, Form 8-K dated January 10, 2014, Exhibit 4.1 |
| 4-16-8 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 18, 2015 | File No. 001-01839, Form 8-K dated March 2, 2015, Exhibit 4.1 |
| 4-16-9 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of November 4, 2015 | File No. 001-01839, Form 8-K dated November 19, 2015, Exhibit 4.1 |
| 4-16-10 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of June 15, 2016 | File No. 001-01839, Form 8-K dated June 27, 2016, Exhibit 4.1 |
| 4-16-11 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of August 9, 2017 | File No. 001-01839, Form 8-K dated August 23, 2017, Exhibit 4.1 |
| 4-16-12 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 6, 2018 | File No. 001-01839, Form 8-K dated February 20, 2018, Exhibit 4.1 |
| 4-16-13 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of July 26, 2018 | File No. 001-01839, Form 8-K dated August 14, 2018, Exhibit 4.1 |
| 4-16-14 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 7, 2019 | File No. 001-01839, Form 8-K dated February 19, 2019, Exhibit 4.1 |
| 4-16-15 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of October 29, 2019 | File No. 001-01839, Form 8-K dated November 12, 2019, Exhibit 4.1 |
| 4-16-16 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 10, 2020 | File No. 001-01839, Form 8-K dated February 25, 2020, Exhibit 4.1 |
| Exhibit No. | Description | Location |
| 4-16-17 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 16, 2021 | File No. 001-01839, Form 8-K dated March 9, 2021, Exhibit 4.1 |
| 4-16-18 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of August 2, 2021 | File No. 001-01839, Form 8-K dated August 12, 2021, Exhibit 4.1 |
| 4-16-19 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of February 23, 2022 | File No. 001-01839, Form 8-K/A dated March 15, 2022, Exhibit 4.1 |
| 4-16-20 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of December 21, 2022 | File No. 001-01839, Form 8-K dated January 10, 2023, Exhibit 4.1 |
| 4-16-21 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of May 1, 2024 | File No. 001-01839, Form 8-K dated May 13, 2024, Exhibit 4.1 |
| 4-16-22 | Supplemental Indenture to Commonwealth Edison Company Mortgage dated as of May 1, 2025 | File No. 001-01839, Form 8-K dated May 19, 2025, Exhibit 4.1 |
| 4-17 | Instrument of Resignation, Appointment and Acceptance dated as of February 20, 2002, under the provisions of the Mortgage of Commonwealth Edison Company dated July 1, 1923, and Indentures Supplemental thereto, regarding corporate trustee | File No. 001-01839, Form 10-K dated April 1, 2002, Exhibit 4.4.2 |
| 4-18 | Instrument dated as of January 31, 1996, under the provisions of the Mortgage of Commonwealth Edison Company dated July 1, 1923 and Indentures Supplemental thereto, regarding individual | File No. 001-01839, Form 10-K dated March 29, 1996, Exhibit 4.29 |
| Exhibit No. | Description | Location |
| 4-19 | First and Refunding Mortgage dated May 1, 1923 between The Counties Gas and Electric Company (predecessor to PECO Energy Company) and Fidelity Trust Company, Trustee (U.S. Bank N.A., as current successor trustee) | Registration No. 2-2281, Exhibit B-1(a) |
| 4-19-1 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of December 1, 1941 | Registration No. 2-4863, Exhibit B-1(h)(a) |
| Exhibit No. | Description | Location |
| 4-19-2 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of April 15, 2004 | File No. 000-16844, Form 10-Q dated September 30, 2004, Exhibit 4-1-1 |
| 4-19-3 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of September 15, 2006 | File No. 000-16844, Form 8-K dated September 25, 2006, Exhibit 4.1 |
| 4-19-4 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of March 1, 2007 | File No. 000-16844, Form 8-K dated March 19, 2007, Exhibit 4.1 |
| 4-19-5 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of September 1, 2014 | File No. 000-16844, Form 8-K dated September 15, 2014, Exhibit 4.1 |
| 4-19-6 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of September 1, 2017 | File No. 000-16844, Form 8-K dated September 18, 2017, Exhibit 4.1 |
| 4-19-7 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of February 1, 2018 | File No. 000-16844, Form 8-K dated February 23, 2018, Exhibit 4.1 |
| 4-19-8 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of September 1, 2018 | File No. 000-16844, Form 8-K dated September 11, 2018, Exhibit 4.1 |
| 4-19-9 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of August 15, 2019 | File No. 000-16844, Form 8-K dated September 10, 2019, Exhibit 4.1 |
| 4-19-10 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of June 1, 2020 | File No. 000-16844, Form 8-K dated June 8, 2020, Exhibit 4.1 |
| 4-19-11 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of February 15, 2021 | File No. 000-16844, Form 8-K dated March 8, 2021, Exhibit 4.1 |
| 4-19-12 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of September 1, 2021 | File No. 000-16844, Form 8-K dated September 14, 2021, Exhibit 4.1 |
| 4-19-13 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of May 1, 2022 | File No. 000-16844, Form 8-K dated May 24, 2022, Exhibit 4.1 |
| 4-19-14 | Supplemental Indenture to PECO Energy Company’s First and Refunding Mortgage dated as of August 1, 2022 | File No. 000-16844, Form 8-K dated August 23, 2022, Exhibit 4.1 |
| 4-19-15 | Supplemental Indenture to PECO Energy Company's First and Refunding Mortgage dated as of June 1, 2023 | File No. 001-16844, Form 8-K dated June 23, 2023, Exhibit 4.1 |
| Exhibit No. | Description | Location |
| 4-19-16 | Supplemental Indenture to PECO Energy Company's First and Refunding Mortgage dated as of August 15, 2024 | File No. 001-16844, Form 8-K dated September 10, 2024, Exhibit 4.1 |
| 4-19-17 | Supplemental Indenture to PECO Energy Company's First and Refunding Mortgage dated as of August 15, 2025 | File No. 001-16844, Form 8-K dated September 10, 2025, Exhibit 4.1 |
| 4-20 | Indenture to Subordinated Debt Securities dated as of June 24, 2003 between PECO Energy Company, as Issuer, and U.S. Bank N.A., as Trustee | File No. 000-16844, Form 10-Q dated July 30, 2003, Exhibit 4.1 |
| 4-21 | Preferred Securities Guarantee Agreement between PECO Energy Company, as Guarantor, and U.S. Bank N.A., as Trustee, dated as of June 24, 2003 | File No. 000-16844, Form 10-Q dated July 30, 2003, Exhibit 4.2 |
| 4-22 | PECO Energy Capital Trust IV Amended and Restated Declaration of Trust among PECO Energy Company, as Sponsor, U.S. Bank Trust N.A., as Delaware Trustee and Property Trustee, and J. Barry Mitchell, George R. Shicora and Charles S. Walls as Administrative Trustees dated as of June 24, 2003 | File No. 000-16844, Form 10-Q dated July 30, 2003, Exhibit 4.3 |
Atlantic City Electric Company
| Exhibit No. | Description | Location |
| 4-23 | Mortgage and Deed of Trust, dated January 15, 1937, between Atlantic City Electric Company and The Bank of New York Mellon (formerly Irving Trust Company), as trustee | 2-66280, Registration Statement dated December 21, 1979, Exhibit 2(a)(a) |
| 4-23-1 | Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of June 1, 1949 | 2-66280, Registration Statement dated December 21, 1979, Exhibit 2(b)(a) |
| 4-23-2 | Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of March 1, 1991 | Form 10-K dated March 28, 1991, Exhibit 4(d)(1)(a) |
| 4-23-3 | Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of April 1, 2004 | File No. 001-03559, Form 8-K dated April 6, 2004, Exhibit 4.3 |
| 4-23-4 | Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of March 8, 2006 | File No. 001-03559, Form 8-K dated March 17, 2006, Exhibit 4 |
| 4-23-5 | Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of October 9, 2018 | File No. 001-03559, Form 8-K dated October 16, 2018, Exhibit 4.1 |
| 4-23-6 | Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of May 2, 2019 | File No. 001-03559, Form 8-K dated May 21, 2019, File No. 4.3 |
| 4-23-7 | Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of June 1, 2020 | File No. 001-03559, Form 8-K dated June 9, 2020, Exhibit 4.2 |
| 4-23-8 | Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of February 15, 2021 | File No. 001-03559, Form 8-K dated March 10, 2021, Exhibit 4.1 |
| 4-23-9 | Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of November 1, 2021 | File No. 001-03559, Form 8-K dated November 16, 2021, Exhibit 4.2 |
| 4-23-10 | Supplemental Indenture to Atlantic City Electric Company Mortgage dated as of February 1, 2022 | File No. 001-03559, Form 8-K dated February 15, 2022, Exhibit 4.2 |
| 4-23-11 | Supplemental Indenture to the Atlantic City Electric Company Mortgage and Deed of Trust, dated as of March 1, 2023 | File No. 001-03559, Form 8-K dated March 15, 2023, Exhibit 4.2 |
| 4-23-12 | Supplemental Indenture to the Atlantic City Electric Company Mortgage and Deed of Trust, dated as of March 1, 2024 | File No. 001-03559, Form 8-K dated March 20, 2024, Exhibit 4.2 |
| 4-23-13 | Supplemental Indenture to the Atlantic City Electric Company Mortgage and Deed of Trust, dated as of March 1, 2025 | File No. 001-03559, Form 8-K dated March 26, 2025, Exhibit 4.2 |
| 4-24 | Pollution Control Facilities Loan Agreement, dated as of June 1, 2020, between The Pollution Control Financing Authority of Salem County and Atlantic City Electric | File No. 001-03559, Form 8-K dated June 2, 2020, Exhibit 4.1 |
| Exhibit No. | Description | Location |
| 4-25 | Mortgage and Deed of Trust of Delaware Power & Light Company to The Bank of New York Mellon (ultimate successor to the New York Trust Company), as trustee, dated as of October 1, 1943, and copies of the First through Sixty-Eighth Supplemental Indentures thereto | 33-1763, Registration Statement dated November 27, 1985, Exhibit 4-(A)(a) |
| 4-25-1 | Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of October 1, 1993 | 33-53855, Registration Statement dated January 30, 1995, Exhibit 4-L(a) |
| 4-25-2 | Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of October 1, 1994 | 33-53855, Registration Statement dated January 30, 1995, Exhibit 4-N(a) |
| 4-25-3 | Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of May 4, 2015 | File No. 001-01405, Form 8-K dated May 5, 2015, Exhibit 4.2 |
| 4-25-4 | Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of December 5, 2016 | File No. 001-01405, Form 8-K dated December 12, 2016, Exhibit 4.2 |
| 4-25-5 | Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of June 1, 2018 | File No. 001-01405, Form 8-K dated June 21, 2018, Exhibit 4.2 |
| 4-25-6 | Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of May 2, 2019 | File No. 001-01405, Form 8-K dated December 12, 2019, Exhibit 4.2 |
| 4-25-7 | Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of January 1, 2020 | File No. 001-01405, Form 10-Q dated May 8, 2020, Exhibit 4.4 |
| 4-25-8 | Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of June 1, 2020 | File No. 001-01405, Form 8-K dated June 9, 2020, Exhibit 4.4 |
| 4-25-9 | Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of February 15, 2021 | File No. 001-01405, Form 8-K dated March 30, 2021, Exhibit 4.4 |
| 4-25-10 | Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of February 1, 2022 | File No. 001-01405, Form 8-K dated February 15, 2022, Exhibit 4.4 |
| 4-25-11 | Supplemental Indenture to Delmarva Power & Light Company Mortgage dated as of January 1, 2022 | File No. 001-01405, Form 10-Q dated May 9, 2022, Exhibit 4.1 |
| Exhibit No. | Description | Location |
| 4-25-12 | Supplemental Indenture to the Delmarva Power & Light Company Mortgage and Deed of Trust, dated as of March 1, 2023 | File No. 001-01405, Form 8-K dated March 15, 2023, Exhibit 4.4 |
| 4-25-13 | Supplemental Indenture to the Delmarva Power & Light Company Mortgage and Deed of Trust, dated as of March 1, 2024 | File No. 001-01405, Form 8-K dated March 20, 2024, Exhibit 4.4 |
| 4-25-14 | Supplemental Indenture to the Delmarva Power & Light Company Mortgage and Deed of Trust, dated as of March 1, 2025 | File No. 001-01405, Form 8-K dated March 26, 2025, Exhibit 4.4 |
| 4-26 | Gas Facilities Loan Agreement, dated as of July 1, 2020, between The Delaware Economic Development Authority and Delmarva Power & Light Company | File No. 001-01405, Form 8-K dated July 1, 2020, Exhibit 4.1 |
| Exhibit No. | Description | Location |
| 4-27 | Mortgage and Deed of Trust, dated July 1, 1936, of Potomac Electric Power Company to The Bank of New York Mellon as successor trustee, securing First Mortgage Bonds of Potomac Electric Power Company, and Supplemental Indenture dated July 1, 1936 | File No. 2-2232, Registration Statement dated June 19, 1936, Exhibit B-4(a) |
| 4-27-1 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of December 10, 1939 | 8-K dated January 3, 1940, Exhibit B(a) |
| 4-27-2 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of March 16, 2004 | File No. 001-01072, Form 8-K dated March 23, 2004, Exhibit 4.3 |
| 4-27-3 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of May 24, 2005 | File No. 001-01072, Form 8-K dated May 26, 2005, Exhibit 4.2 |
| 4-27-4 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of November 13, 2007 | File No. 001-01072, Form 8-K dated November 15, 2007, Exhibit 4.2 |
| 4-27-5 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of March 24, 2008 | File No. 001-01072, Form 8-K dated March 28, 2008, Exhibit 4.1 |
| 4-27-6 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of December 3, 2008 | File No. 001-01072, Form 8-K dated December 8, 2008, Exhibit 4.2 |
| 4-27-7 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of March 11, 2013 | File No. 001-01072, Form 8-K dated March 12, 2013, Exhibit 4.2 |
| Exhibit No. | Description | Location |
| 4-27-8 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of November 14, 2013 | File No. 001-01072, Form 8-K dated November 15, 2013, Exhibit 4.2 |
| 4-27-9 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of March 9, 2015 | File No. 001-01072, Form 8-K dated March 10, 2015, Exhibit 4.3 |
| 4-27-10 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of May 15, 2017 | File No. 001-01072, Form 8-K dated May 22, 2017, Exhibit 4.2 |
| 4-27-11 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of June 1, 2018 | File No. 001-01072, Form 8-K dated June 21, 2018, Exhibit 4.2 |
| 4-27-12 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of May 2, 2019 | File No. 001-01072, Form 8-K dated June 13, 2019, Exhibit 4.2 |
| 4-27-13 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of February 12, 2020 | File No. 001-01072, Form 8-K dated February 25, 2020, Exhibit 4.2 |
| 4-27-14 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of February 15, 2021 | File No. 001-01072, Form 8-K dated March 30, 2021, Exhibit 4.4 |
| 4-27-15 | Supplemental Indenture to Potomac Electric Power Company Mortgage dated as of March 1, 2022 | File No. 001-01072, Form 8-K dated March 24, 2022, Exhibit 4.2 |
| 4-27-16 | Supplemental Indenture to the Potomac Electric Power Company Mortgage and Deed of Trust, dated as of March 1, 2023 | File No. 001-01072, Form 8-K dated March 15, 2023, Exhibit 4.6 |
| 4-27-17 | Supplemental Indenture to the Potomac Electric Power Company Mortgage and Deed of Trust, dated as of February 15, 2024 | File No. 001-01072, Form 8-K dated March 4, 2024, Exhibit 4.3 |
| 4-27-18 | Supplemental Indenture to the Potomac Electric Power Company Mortgage and Deed of Trust, dated as of March 1, 2025 | File No. 001-01072, Form 8-K dated March 26, 2025, Exhibit 4.6 |
| 4-28 | Exempt Facilities Loan Agreement dated as of June 1, 2019 between the Maryland Economic Development Corporation and Potomac Electric Power Company | File No. 001-01072, Form 8-K dated June 27, 2019, Exhibit 4.1 |
(10) Material Contracts
| Exhibit No. | Description | Location |
| 10-1 | Transition Services Agreement, dated January 31, 2022, between Exelon Corporation and Constellation Energy Corporation | File No. 001-16169, Form 8K dated February 2, 2022, Exhibit 10.1 |
| Exhibit No. | Description | Location |
| 10-2 | Tax Matters Agreement, dated January 31, 2022, between Exelon Corporation and Constellation Energy Corporation | File No. 001-16169, Form 8K dated February 2, 2022, Exhibit 10.2 |
| 10-3 | Employee Matters Agreement, dated January 31, 2022, between Exelon Corporation and Constellation Energy Corporation | File No. 001-16169, Form 8K dated February 2, 2022, Exhibit 10.3 |
| 10-4 | Amended and Restated Credit Agreement for $900,000,000 dated August 29, 2024, between Exelon Corporation and various financial institutions | File No. 001-16169, Form 10-K dated October 30, 2024, Exhibit 10.1 |
| 10-5 | Exelon Corporation Non-Employee Directors’ Restricted Stock Unit Plan (Effective January 1, 2026) | Filed herewith. |
| 10-6 | Exelon Corporation Supplemental Management Retirement Plan (As Amended and Restated Effective January 1, 2009) * | File No. 001-16169, Form 10-K dated February 6, 2009, Exhibit 10.19 |
| 10-7 | Exelon Corporation Employee Stock Purchase Plan, as amended and restated effective September 25, 2019 | File No. 001-16169, Form 10-Q dated October 31, 2019, Exhibit 10.3 |
| 10-8 | Exelon Corporation Employee Stock Purchase Plan for Unincorporated Subsidiaries, as amended and restated effective September 25, 2019 | File No. 001-16169, Form 10-Q dated October 31, 2019, Exhibit 10.4 |
| 10-9 | Exelon Corporation 2020 Long-Term Incentive Plan (Effective April 28, 2020) | File No. 001-16169, Proxy Statement dated March 18, 2020, Appendix A |
| 10-10 | Exelon Corporation 2020 Long-Term Incentive Plan Prospectus, dated May 27, 2020 | File No. 001-16169, Form 10-Q dated August 4, 2020, Exhibit 10.3 |
| 10-11 | Form of Restricted Stock Unit Award Notice and Agreement under the Exelon Corporation 2020 Long-Term Incentive Plan | File No. 001-16169, Form 10-Q dated August 4, 2020, Exhibit 10.4 |
| 10-12 | Form of Performance Share Award Notice and Agreement under the Exelon Corporation 2020 Long-Term Incentive Plan | File No. 001-16169, Form 10-Q dated August 4, 2020, Exhibit 10.5 |
| 10-13 | Exelon Corporation Senior Management Severance Plan as Amended and Restated effective February 1, 2024 | File No. 001-16169, Form 10-K dated February 21, 2024, Exhibit 10.15.1 |
| 10-14 | Form of Separation Agreement under Exelon Corporation Senior Management Severance Plan (As Amended and Restated Effective January 1, 2020) | File No. 001-16169, Form 10-K dated February 11, 2020, Exhibit 10.21 |
| Exhibit No. | Description | Location |
| 10-15 | Exelon Corporation Executive Death Benefits Plan dated as of January 1, 2003 * | File No. 001-16169, Form 10-K dated February 13, 2007, Exhibit 10.52 |
| 10-15-1 | First Amendment to Exelon Corporation Executive Death Benefits Plan, Effective January 1, 2006 * | File No. 001-16169, Form 10-K dated February 13, 2007, Exhibit 10.53 |
| 10-16 | Exelon Corporation Deferred Compensation Plan (As Amended and Restated Effective December 1, 2025) | Filed herewith |
| 10-17 | Exelon Corporation Stock Deferral Plan (As Amended and Restated Effective September 25, 2019) | File No. 001-16169, Form 10-Q dated October 31, 2019, Exhibit 10.5 |
| 10-18 | 2023 Amendment to Certain Plans of Exelon Corporation | File No. 001-16169, Form 10-K dated February 24, 2021, Exhibit 10.22 |
| 10-19 | Constellation Energy Group Benefits Restoration Plan (As Amended and Restated Effective January 1, 2025) | File No. 001-16169, Form 10-K dated February 12, 2025, Exhibit 10.20 |
| 10-20 | Exelon Corporation Unfunded Deferred Compensation Plan for Directors (As Amended and Restated Effective January 1, 2026) | Filed herewith |
| Exhibit No. | Description | Location |
| 10-21 | Deferred Prosecution Agreement, dated July 17, 2020, between Commonwealth Edison Company and the U.S. Department of Justice and the U.S. Attorney for the Northern District of Illinois | File No. 001-01839, Form 8-K dated July 17, 2020, Exhibit 10.1 |
| 10-22 | Amended and Restated Credit Agreement for $1,000,000,000 dated August 29, 2024, between Commonwealth Edison Company and various financial institutions | File No. 001-01839, Form 10-K dated October 30, 2024, Exhibit 10.2 |
| Exhibit No. | Description | Location |
| 10-23 | Amended and Restated Credit Agreement for $600,000,000 dated August 29, 2024, between Baltimore Gas and Electric Company and various financial institutions | File No. 001-01910, Form 10-K dated October 30, 2024, Exhibit 10.4 |
| Exhibit No. | Description | Location |
| 10-24 | PECO Energy Company Supplemental Pension Benefit Plan (As Amended and Restated Effective January 1, 2009) | File No. 000-16844, Form 10-K dated February 6, 2009, Exhibit 10.20 |
| 10-25 | Amended and Restated Credit Agreement for $600,000,000 dated August 29, 2024, between PECO Energy Company and various financial institutions | File No. 000-16844, Form 10-K dated October 30, 2024, Exhibit 10.3 |
Atlantic City Electric Company, Potomac Electric Power Company, Delmarva Power & Light Company
| Exhibit No. | Description | Location |
| 10-26 | Bond Purchase Agreement, dated December 1, 2015, among Atlantic City Electric Company and the purchasers signatory thereto | File No. 001-03559, Form 8-K dated December 2, 2015, Exhibit 1.1 |
| 10-27 | Amended and Restated Credit Agreement for $900,000,000 dated August 29, 2024, between Potomac Electric Power Company, Delmarva Power & Light Company, Atlantic City Electric Company and various financial institutions | File Nos. 001-010172, 001-01405, 001-03559, Form 10-K dated October 30, 2024, Exhibit 10.5 |
(14) Code of Ethics
| Exhibit No. | Description | Location | |
| 14-1 | Exelon Code of Conduct, as amended January 05, 2026 | Filed herewith. |
(19) Insider trading policies and procedures
| Exhibit No. | Description | Location | |
| 19-1 | Exelon Insider Trading Policy | Filed herewith. |
(97) Policy Relating to Recovery of Erroneously Awarded Compensation
| Exhibit No. | Description | Location | |
| 97-1 | Exelon Financial Restatement Compensation Recoupment Policy | File No. 001-16169, Form 10-K dated February 21, 2024, Exhibit 97.1 |
| Exhibit No. | Description |
| Subsidiaries | |
| 21-1 | Exelon Corporation |
| 21-2 | Commonwealth Edison Company |
| 21-3 | PECO Energy Company |
| Exhibit No. | Description |
| 21-4 | Baltimore Gas and Electric Company |
| 21-5 | Pepco Holdings LLC |
| 21-6 | Potomac Electric Power Company |
| 21-7 | Delmarva Power & Light Company |
| 21-8 | Atlantic City Electric Company |
| Consent of Independent Registered Public Accountants | |
| 23-1 | Exelon Corporation |
| 23-2 | Commonwealth Edison Company |
| 23-3 | PECO Energy Company |
| 23-4 | Baltimore Gas and Electric Company |
| Power of Attorney (Exelon Corporation) | |
| 24-1 | Anna Richo |
| 24-2 | Calvin G. Butler, Jr. |
| 24-3 | W. Paul Bowers |
| 24-4 | Marjorie Rodgers Cheshire |
| 24-5 | Matthew Rogers |
| 24-6 | Linda P. Jojo |
| 24-7 | Charisse R. Lillie |
| 24-8 | Bryan Segedi |
| 24-9 | David G. DeWalt |
| Power of Attorney (Commonwealth Edison Company) | |
| 24-10 | Michael A. Innocenzo |
| 24-11 | Elizabeth Buchanan |
| 24-12 | Stephen Bowman |
| 24-13 | Ricardo Estrada |
| 24-14 | Zaldwaynaka Scott |
| 24-15 | Smita Shah |
| 24-16 | Gil C. Quiniones |
| Power of Attorney (PECO Energy Company) | |
| 24-17 | Michael A. Innocenzo |
| 24-18 | John S. Grady |
| 24-19 | David M. Vahos |
| 24-20 | Sharmain Matlock-Turner |
| 24-21 | Michael Nutter |
| Exhibit No. | Description |
| 24-22 | Michelle Hong |
| 24-23 | Roberto E. Perez |
| Power of Attorney (Baltimore Gas and Electric Company) | |
| 24-24 | Michael A. Innocenzo |
| 24-25 | Tamla A. Olivier |
| 24-26 | Keith Lee |
| 24-27 | Rachel Garbow Monroe |
| 24-28 | Byron Marchant |
| 24-29 | Tim Regan |
| 24-30 | Amy Seto |
| 24-31 | Maria Harris Tildon |
| Power of Attorney (Pepco Holdings LLC) | |
| 24-32 | Antoine Allen |
| 24-33 | J. Tyler Anthony |
| 24-34 | Michael A. Innocenzo |
| 24-35 | Debra P. DiLorenzo |
| 24-36 | Benjamin Wu |
| 24-37 | Linda W. Cropp |
| 24-38 | Rosie Allen-Herring |
| Power of Attorney (Potomac Electric Power Company) | |
| 24-39 | J. Tyler Anthony |
| 24-40 | Elizabeth Morgan Downs O'Donnell |
| 24-41 | Michael A. Innocenzo |
| 24-42 | Rodney Oddoye |
| 24-43 | Amber Perry |
| 24-44 | Jaclyn Cantler |
| 24-45 | Anne C. Bancroft |
| Power of Attorney (Delmarva Power & Light Company) | |
| 24-46 | J. Tyler Anthony |
| 24-47 | Michael A. Innocenzo |
| Power of Attorney (Atlantic City Electric Company) | |
| 24-48 | J. Tyler Anthony |
Certifications Pursuant to Rule 13a-14(a) and 15d-14(a) of the Securities and Exchange Act of 1934 as to the Annual Report on Form 10-K for the year ended December 31, 2025 filed by the following officers for the following registrants:
| Exhibit No. | Description |
| 31-1 | Filed by Calvin G. Butler, Jr. for Exelon Corporation |
| 31-2 | Filed by Jeanne M. Jones for Exelon Corporation |
| 31-3 | Filed by Gil C. Quiniones for Commonwealth Edison Company |
| 31-4 | Filed by Joshua S. Levin for Commonwealth Edison Company |
| 31-5 | Filed by David M. Vahos for PECO Energy Company |
| 31-6 | Filed by Marissa E. Humphrey for PECO Energy Company |
| 31-7 | Filed by Tamla A. Olivier for Baltimore Gas and Electric Company |
| 31-8 | Filed by Michael J. Cloyd for Baltimore Gas and Electric Company |
| 31-9 | Filed by J. Tyler Anthony for Pepco Holdings LLC |
| 31-10 | Filed by Elizabeth Morgan Downs O'Donnell for Pepco Holdings LLC |
| 31-11 | Filed by J. Tyler Anthony for Potomac Electric Power Company |
| 31-12 | Filed by Elizabeth Morgan Downs O'Donnell for Potomac Electric Power Company |
| 31-13 | Filed by J. Tyler Anthony for Delmarva Power & Light Company |
| 31-14 | Filed by Elizabeth Morgan Downs O'Donnell for Delmarva Power & Light Company |
| 31-15 | Filed by J. Tyler Anthony for Atlantic City Electric Company |
| 31-16 | Filed by Elizabeth Morgan Downs O'Donnell for Atlantic City Electric Company |
| Certifications Pursuant to Section 1350 of Chapter 63 of Title 18 United States Code as to the Annual Report on Form 10-K for the year ended December 31, 2025 filed by the following officers for the following registrants: | |
|---|---|
| Exhibit No. | Description |
| 32-1 | Filed by Calvin G. Butler, Jr. for Exelon Corporation |
| 32-2 | Filed by Jeanne M. Jones for Exelon Corporation |
| 32-3 | Filed by Gil C. Quiniones for Commonwealth Edison Company |
| 32-4 | Filed by Joshua S. Levin for Commonwealth Edison Company |
| 32-5 | Filed by David M. Vahos for PECO Energy Company |
| 32-6 | Filed by Marissa E. Humphrey for PECO Energy Company |
| 32-7 | Filed by Tamla A. Olivier for Baltimore Gas and Electric Company |
| 32-8 | Filed by Michael J. Cloyd for Baltimore Gas and Electric Company |
| 32-9 | Filed by J. Tyler Anthony for Pepco Holdings LLC |
| 32-10 | Filed by Elizabeth Morgan Downs O'Donnell for Pepco Holdings LLC |
| 32-11 | Filed by J. Tyler Anthony for Potomac Electric Power Company |
| 32-12 | Filed by Elizabeth Morgan Downs O'Donnell for Potomac Electric Power Company |
| 32-13 | Filed by J. Tyler Anthony for Delmarva Power & Light Company |
| 32-14 | Filed by Elizabeth Morgan Downs O'Donnell for Delmarva Power & Light Company |
| Exhibit No. | Description |
| 32-15 | Filed by J. Tyler Anthony for Atlantic City Electric Company |
| 32-16 | Filed by Elizabeth Morgan Downs O'Donnell for Atlantic City Electric Company |
| 101.INS | Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. |
| 101.LAB | Inline XBRL Taxonomy Extension Labels Linkbase Document. |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
- Compensatory plan or arrangements in which directors or officers of the applicable registrant participate and which are not available to all employees.
(a)These filings are not available electronically on the SEC website as they were filed in paper previous to the electronic system that is currently in place.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.