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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 Shareholders' Equity

Six Months Ended June 30, 2026
(In millions)CommonStockOtherPaid-InCapitalRetainedEarningsTotalShareholders’Equity
Balance at December 31, 2025$1,588$11,019$2,998$15,605
Net income——310310
Common stock dividends——(218)(218)
Contributions from parent—256—256
Balance at March 31, 2026$1,588$11,275$3,090$15,953
Net income——249249
Common stock dividends——(219)(219)
Contributions from parent————
Balance at June 30, 2026$1,588$11,275$3,120$15,983
Six Months Ended June 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
Three Months Ended June 30,Six Months EndedJune 30,
(In millions)2026202520262025
Operating revenues
Electric operating revenues$934$876$2,007$1,839
Natural gas operating revenues120120530496
Revenues from alternative revenue programs5110(8)
Operating revenues from affiliates3376
Total operating revenues1,0621,0002,5542,333
Operating expenses
Purchased power352304803665
Purchased fuel3735198176
Operating and maintenance232242502507
Operating and maintenance from affiliates6863134124
Depreciation and amortization125112247221
Taxes other than income taxes6254131115
Total operating expenses8768102,0151,808
Operating income186190539525
Other income and (deductions)
Interest expense, net(70)(57)(139)(117)
Interest expense to affiliates, net(2)(3)(5)(7)
Other, net13102518
Total other income and (deductions)(59)(50)(119)(106)
Income before income taxes127140420419
Income taxes842317
Net income$119$136$397$402
Comprehensive income$119$136$397$402
Six Months EndedJune 30,
(In millions)20262025
Cash flows from operating activities
Net income$397$402
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization247221
Deferred income taxes and amortization of investment tax credits285(32)
Other non-cash operating activities4453
Changes in assets and liabilities:
Accounts receivable30(101)
Receivables from and payables to affiliates, net14
Inventories72
Accounts payable and accrued expenses(79)2
Collateral (paid) received, net—6
Income taxes(277)3
Regulatory assets and liabilities, net(51)21
Pension and non-pension postretirement benefit contributions(13)(9)
Other assets and liabilities(70)(66)
Net cash flows provided by operating activities521506
Cash flows from investing activities
Capital expenditures(964)(832)
Other investing activities(9)2
Net cash flows used in investing activities(973)(830)
Cash flows from financing activities
Changes in short-term borrowings8111
Dividends paid on common stock(273)(273)
Contributions from parent567563
Net cash flows provided by financing activities375301
Decrease in cash, restricted cash, and cash equivalents(77)(23)
Cash, restricted cash, and cash equivalents at beginning of period11648
Cash, restricted cash, and cash equivalents at end of period$39$25
Supplemental cash flow information
(Decrease) increase in capital expenditures not paid$(2)$95
(In millions)June 30, 2026December 31, 2025
ASSETS
Current assets
Cash and cash equivalents$39$116
Accounts receivable
Customer accounts receivable741811
Customer allowance for credit losses(142)(137)
Customer accounts receivable, net599674
Other accounts receivable154144
Other allowance for credit losses(18)(18)
Other accounts receivable, net136126
Inventories, net
Fossil fuel2543
Materials and supplies9483
Prepaid utility taxes79—
Prepaid renewable energy credits6055
Regulatory assets11672
Other6634
Total current assets1,2141,203
Property, plant, and equipment (net of accumulated depreciation and amortization of $4,262 and $4,131 as of June 30, 2026 and December 31, 2025, respectively)16,65515,922
Deferred debits and other assets
Regulatory assets1,3821,275
Receivable related to Regulatory Agreement Units642442
Investments4845
Prepaid pension asset448441
Other10634
Total deferred debits and other assets2,6262,237
Total assets$20,495$19,362
(In millions)June 30, 2026December 31, 2025
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities
Short-term borrowings$81$—
Accounts payable788811
Accrued expenses171483
Payables to affiliates3635
Customer deposits10293
Renewable energy credit obligations10156
Regulatory liabilities130140
Other5040
Total current liabilities1,4591,658
Long-term debt6,3986,396
Long-term debt to financing trusts184184
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits2,9802,594
Regulatory liabilities648449
Asset retirement obligations2626
Non-pension postretirement benefit obligations289286
Other160109
Total deferred credits and other liabilities4,1033,464
Total liabilities12,14411,702
Commitments and contingencies
Shareholder’s equity
Common stock5,7895,222
Retained earnings2,5622,438
Total shareholder’s equity8,3517,660
Total liabilities and shareholder's equity$20,495$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.