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Midas Edge

ATLANTIC CITY ELECTRIC CO

For the period ended Jun 30, 2026. Filed Jul 30, 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.

Jun 30, 2026 · Filed Jul 30, 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 Shareholder's Equity

Six Months Ended June 30, 2026
(In millions)CommonStockRetainedEarningsTotalShareholder'sEquity
Balance at December 31, 2025$5,222$2,438$7,660
Net income—278278
Common stock dividends—(137)(137)
Contributions from parent567—567
Balance at March 31, 2026$5,789$2,579$8,368
Net income—119119
Common stock dividends—(136)(136)
Contributions from parent———
Balance at June 30, 2026$5,789$2,562$8,351
Six Months Ended June 30, 2025
(In millions)CommonStockRetainedEarningsTotalShareholder'sEquity
Balance at December 31, 2024$4,645$2,170$6,815
Net income—266266
Common stock dividends—(137)(137)
Contributions from parent563—563
Balance at March 31, 2025$5,208$2,299$7,507
Net income—136136
Common stock dividends—(136)(136)
Contributions from parent———
Balance at June 30, 2025$5,208$2,299$7,507
Three Months Ended June 30,Six Months EndedJune 30,
(In millions)2026202520262025
Operating revenues
Electric operating revenues$1,044$856$2,302$1,877
Natural gas operating revenues166184757745
Revenues from alternative revenue programs5(13)(18)(43)
Operating revenues from affiliates3254
Total operating revenues1,2181,0293,0462,583
Operating expenses
Purchased power5223671,152818
Purchased fuel2339201198
Operating and maintenance222201481443
Operating and maintenance from affiliates7163138125
Depreciation and amortization166154334318
Taxes other than income taxes9685200181
Total operating expenses1,1009092,5062,083
Operating income118120540500
Other income and (deductions)
Interest expense, net(68)(61)(129)(120)
Other, net22113820
Total other income and (deductions)(46)(50)(91)(100)
Income before income taxes7270449400
Income taxes17159685
Net income$55$55$353$315
Comprehensive income$55$55$353$315

Statements of Cash Flows

Six Months EndedJune 30,
(In millions)20262025
Cash flows from operating activities
Net income$353$315
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization334318
Deferred income taxes and amortization of investment tax credits19843
Other non-cash operating activities7989
Changes in assets and liabilities:
Accounts receivable(16)(21)
Receivables from and payables to affiliates, net(3)(11)
Inventories(4)8
Accounts payable and accrued expenses(100)(43)
Collateral (paid) received, net(2)5
Income taxes(160)15
Regulatory assets and liabilities, net45(61)
Pension and non-pension postretirement benefit contributions(44)(37)
Other assets and liabilities117114
Net cash flows provided by operating activities797734
Cash flows from investing activities
Capital expenditures(822)(804)
Other investing activities55
Net cash flows used in investing activities(817)(799)
Cash flows from financing activities
Changes in short-term borrowings—(175)
Issuance of long-term debt925650
Retirement of long-term debt(350)—
Dividends paid on common stock(227)(196)
Contributions from parent474—
Other financing activities(8)(7)
Net cash flows provided by financing activities814272
Increase in cash, restricted cash, and cash equivalents794207
Cash, restricted cash, and cash equivalents at beginning of period22034
Cash, restricted cash, and cash equivalents at end of period$1,014$241
Supplemental cash flow information
Decrease in capital expenditures not paid$(20)$(50)
(In millions)June 30, 2026December 31, 2025
ASSETS
Current assets
Cash and cash equivalents$1,010$217
Restricted cash and cash equivalents43
Accounts receivable
Customer accounts receivable926887
Customer allowance for credit losses(136)(68)
Customer accounts receivable, net790819
Other accounts receivable91100
Other allowance for credit losses(3)(4)
Other accounts receivable, net8896
Receivables from affiliates—1
Inventories, net
Fossil fuel3036
Materials and supplies8374
Prepaid utility taxes—126
Regulatory assets101175
Prepaid renewable energy credits86189
Other1814
Total current assets2,2101,750
Property, plant, and equipment (net of accumulated depreciation and amortization of $5,446 and $5,234 as of June 30, 2026 and December 31, 2025, respectively)14,91814,385
Deferred debits and other assets
Regulatory assets774804
Investments1610
Prepaid pension asset217194
Other3841
Total deferred debits and other assets1,0451,049
Total assets$18,173$17,184
(In millions)June 30, 2026December 31, 2025
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities
Long-term debt due within one year$—$350
Accounts payable548640
Accrued expenses176352
Payables to affiliates3939
Customer deposits126125
Regulatory liabilities3431
Renewable energy credit obligations92194
Other3139
Total current liabilities1,0461,770
Long-term debt6,6095,691
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits2,4762,242
Regulatory liabilities559595
Asset retirement obligations3736
Non-pension postretirement benefit obligations137144
Other107104
Total deferred credits and other liabilities3,3163,121
Total liabilities10,97110,582
Commitments and contingencies
Shareholder's equity
Common stock4,4884,014
Retained earnings2,7142,588
Total shareholder's equity7,2026,602
Total liabilities and shareholder's equity$18,173$17,184
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.