ATLANTIC CITY ELECTRIC CO

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

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.

See the whole filing, with its images and exhibits

Contents

Consolidated Statements of Changes in Shareholders' Equity

	Three Months Ended March 31, 2026
(In millions)	CommonStock	OtherPaid-InCapital	RetainedEarnings	TotalShareholders’Equity
Balance at December 31, 2025	$1,588	$11,019	$2,998	$15,605
Net income	—	—	310	310
Common stock dividends	—	—	(218)	(218)
Contributions from parent	—	256	—	256
Balance at March 31, 2026	$1,588	$11,275	$3,090	$15,953
	Three Months Ended March 31, 2025
(In millions)	CommonStock	OtherPaid-InCapital	RetainedEarnings	TotalShareholders’Equity
Balance at December 31, 2024	$1,588	$10,628	$2,664	$14,880
Net income	—	—	302	302
Common stock dividends	—	—	(203)	(203)
Contributions from parent	—	87	—	87
Balance at March 31, 2025	$1,588	$10,715	$2,763	$15,066

	Three Months EndedMarch 31,
(In millions)	2026	2025
Operating revenues
Electric operating revenues	$1,073	$963
Natural gas operating revenues	410	376
Revenues from alternative revenue programs	5	(9)
Operating revenues from affiliates	4	3
Total operating revenues	1,492	1,333
Operating expenses
Purchased power	451	361
Purchased fuel	161	141
Operating and maintenance	271	266
Operating and maintenance from affiliates	66	61
Depreciation and amortization	121	109
Taxes other than income taxes	69	60
Total operating expenses	1,139	998
Operating income	353	335
Other income and (deductions)
Interest expense, net	(69)	(59)
Interest expense to affiliates, net	(2)	(4)
Other, net	11	8
Total other income and (deductions)	(60)	(55)
Income before income taxes	293	280
Income taxes	15	14
Net income	$278	$266
Comprehensive income	$278	$266

	Three Months EndedMarch 31,
(In millions)	2026	2025
Cash flows from operating activities
Net income	$278	$266
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	121	109
Deferred income taxes and amortization of investment tax credits	278	(18)
Other non-cash operating activities	34	54
Changes in assets and liabilities:
Accounts receivable	(87)	(148)
Receivables from and payables to affiliates, net	4	(4)
Inventories	23	15
Accounts payable and accrued expenses	(122)	(25)
Collateral (paid) received, net	—	12
Income taxes	(262)	32
Regulatory assets and liabilities, net	(55)	27
Pension and non-pension postretirement benefit contributions	(12)	(9)
Other assets and liabilities	(120)	(117)
Net cash flows provided by operating activities	80	194
Cash flows from investing activities
Capital expenditures	(469)	(424)
Changes in Exelon intercompany money pool	(5)	—
Other investing activities	(1)	2
Net cash flows used in investing activities	(475)	(422)
Cash flows from financing activities
Changes in short-term borrowings	—	(192)
Dividends paid on common stock	(137)	(137)
Contributions from parent	567	563
Net cash flows provided by financing activities	430	234
Increase in cash, restricted cash, and cash equivalents	35	6
Cash, restricted cash, and cash equivalents at beginning of period	116	48
Cash, restricted cash, and cash equivalents at end of period	$151	$54
Supplemental cash flow information
Decrease in capital expenditures not paid	$(33)	$(20)

(In millions)	March 31, 2026	December 31, 2025
ASSETS
Current assets
Cash and cash equivalents	$151	$116
Accounts receivable
Customer accounts receivable	861	811
Customer allowance for credit losses	(160)	(137)
Customer accounts receivable, net	701	674
Other accounts receivable	178	144
Other allowance for credit losses	(22)	(18)
Other accounts receivable, net	156	126
Receivables from affiliates	2	—
Fossil fuel	16	43
Materials and supplies	87	83
Prepaid utility taxes	127	2
Prepaid renewable energy credits	80	55
Regulatory assets	128	72
Other	29	32
Total current assets	1,477	1,203
Property, plant, and equipment (net of accumulated depreciation and amortization of $4,211 and $4,131 as of March 31, 2026 and December 31, 2025, respectively)	16,245	15,922
Deferred debits and other assets
Regulatory assets	1,351	1,275
Receivable related to Regulatory Agreement Units	533	442
Investments	45	45
Prepaid pension asset	450	441
Other	92	34
Total deferred debits and other assets	2,471	2,237
Total assets	$20,193	$19,362

(In millions)	March 31, 2026	December 31, 2025
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities
Accounts payable	$758	$811
Accrued expenses	132	483
Payables to affiliates	41	35
Customer deposits	97	93
Renewable energy credit obligations	81	56
Regulatory liabilities	138	140
Other	42	40
Total current liabilities	1,289	1,658
Long-term debt	6,397	6,396
Long-term debt to financing trusts	184	184
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	2,944	2,594
Regulatory liabilities	539	449
Asset retirement obligations	26	26
Non-pension postretirement benefit obligations	288	286
Other	158	109
Total deferred credits and other liabilities	3,955	3,464
Total liabilities	11,825	11,702
Commitments and contingencies
Shareholder’s equity
Common stock	5,789	5,222
Retained earnings	2,579	2,438
Total shareholder’s equity	8,368	7,660
Total liabilities and shareholder's equity	$20,193	$19,362

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.