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Midas Edge

ATLANTIC CITY ELECTRIC CO

For the period ended Mar 31, 2026. Filed May 6, 2026.

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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.

Mar 31, 2026 · Filed May 6, 2026

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

Three Months Ended March 31, 2026
(In millions, sharesin thousands)IssuedSharesCommonStockTreasuryStockRetainedEarningsAccumulatedOtherComprehensiveLoss, netTotal Shareholders'Equity
Balance at December 31, 20251,024,401$22,106$(123)$7,577$(762)$28,798
Net income———919—919
Long-term incentive plan activity33810———10
Employee stock purchase plan activity30213———13
Common stock dividends($0.42/common share)———(431)—(431)
Other comprehensive income, net of income taxes————66
Balance at March 31, 20261,025,041$22,129$(123)$8,065$(756)$29,315
Three Months Ended March 31, 2025
(In millions, sharesin thousands)IssuedSharesCommonStockTreasuryStockRetainedEarningsAccumulatedOtherComprehensiveLoss, netTotal Shareholders'Equity
Balance at December 31, 20241,007,046$21,338$(123)$6,426$(720)$26,921
Net income———908—908
Long-term incentive plan activity2994———4
Employee stock purchase plan activity(8)2———2
Issuance of Common Stock4,031173———173
Common stock dividends($0.40/common share)———(403)—(403)
Other comprehensive income, net of income taxes————22
Balance at March 31, 20251,011,368$21,517$(123)$6,931$(718)$27,607
Three Months EndedMarch 31,
(In millions)20262025
Operating revenues
Electric operating revenues$1,894$2,142
Revenues from alternative revenue programs8(85)
Operating revenues from affiliates118
Total operating revenues1,9132,065
Operating expenses
Purchased power451689
Operating and maintenance335323
Operating and maintenance from affiliates103100
Depreciation and amortization404380
Taxes other than income taxes10599
Total operating expenses1,3981,591
Operating income515474
Other income and (deductions)
Interest expense, net(132)(125)
Interest expense to affiliates, net(3)(3)
Other, net3121
Total other income and (deductions)(104)(107)
Income before income taxes411367
Income taxes10165
Net income$310$302
Comprehensive income$310$302
Three Months EndedMarch 31,
(In millions)20262025
Cash flows from operating activities
Net income$310$302
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization404380
Deferred income taxes and amortization of investment tax credits71(8)
Other non-cash operating activities21141
Changes in assets and liabilities:
Accounts receivable559(111)
Receivables from and payables to affiliates, net(11)(21)
Inventories(7)3
Accounts payable and accrued expenses(108)(189)
Collateral received, net525
Income taxes2972
Regulatory assets and liabilities, net(350)76
Pension and non-pension postretirement benefit contributions(220)(189)
Other assets and liabilities(6)(102)
Net cash flows provided by operating activities744359
Cash flows from investing activities
Capital expenditures(885)(590)
Other investing activities—1
Net cash flows used in investing activities(885)(589)
Cash flows from financing activities
Changes in short-term borrowings46311
Dividends paid on common stock(218)(203)
Contributions from parent25687
Net cash flows provided by financing activities84195
Decrease in cash, restricted cash, and cash equivalents(57)(35)
Cash, restricted cash, and cash equivalents at beginning of period663632
Cash, restricted cash, and cash equivalents at end of period$606$597
Supplemental cash flow information
Decrease in capital expenditures not paid$(133)$(25)
(In millions)March 31, 2026December 31, 2025
ASSETS
Current assets
Cash and cash equivalents$95$159
Restricted cash and cash equivalents487454
Accounts receivable
Customer accounts receivable8651,058
Customer allowance for credit losses(130)(115)
Customer accounts receivable, net735943
Other accounts receivable7801,155
Other allowance for credit losses(27)(23)
Other accounts receivable, net7531,132
Receivables from affiliates75
Inventories, net274268
Regulatory assets687595
Other189217
Total current assets3,2273,773
Property, plant, and equipment (net of accumulated depreciation and amortization of $8,514 and $8,219 as of March 31, 2026 and December 31, 2025, respectively)32,73832,255
Deferred debits and other assets
Regulatory assets2,7502,687
Goodwill2,6252,625
Receivable related to Regulatory Agreement Units4,2974,313
Investments66
Prepaid pension asset1,4801,284
Other1,3551,342
Total deferred debits and other assets12,51312,257
Total assets$48,478$48,285
(In millions)March 31, 2026December 31, 2025
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Short-term borrowings$46$—
Long-term debt due within one year500500
Accounts payable9271,033
Accrued expenses369474
Payables to affiliates7281
Customer deposits214192
Regulatory liabilities603846
Mark-to-market derivative liabilities2225
Other295288
Total current liabilities3,0483,439
Long-term debt12,25512,253
Long-term debt to financing trust206206
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits5,9185,828
Regulatory liabilities9,2689,163
Asset retirement obligations195193
Non-pension postretirement benefit obligations154151
Mark-to-market derivative liabilities111106
Other1,3701,341
Total deferred credits and other liabilities17,01616,782
Total liabilities32,52532,680
Commitments and contingencies
Shareholders’ equity
Common stock1,5881,588
Other paid-in capital11,27511,019
Retained earnings3,0902,998
Total shareholders’ equity15,95315,605
Total liabilities and shareholders’ equity$48,478$48,285
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.