← Filings of EXC
Tables in the 10-Q of EXELON CORP
162 tables with numbers, filed May 1, 2025. Each one downloads as a CSV for Excel or
Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
| Commission File Number | Name of Registrant; State or Other Jurisdiction of Incorporation; Address of Principal Executive Offices; and Telephone Number | IRS Employer Identification Number |
| 001-16169 | EXELON CORPORATION | 23-2990190 |
| (a Pennsylvania corporation)10 South Dearborn StreetP.O. Box 805379Chicago, Illinois 60680-5379(800) 483-3220 | |
| 001-01839 | COMMONWEALTH EDISON COMPANY | 36-0938600 |
| (an Illinois corporation)10 South Dearborn StreetChicago, Illinois 60603-2300(312) 394-4321 | |
| 000-16844 | PECO ENERGY COMPANY | 23-0970240 |
| (a Pennsylvania corporation)2301 Market StreetP.O. Box 8699Philadelphia, Pennsylvania 19101-8699(215) 841-4000 | |
| 001-01910 | BALTIMORE GAS AND ELECTRIC COMPANY | 52-0280210 |
First 8 of 17 rows. The CSV has all of them.
Table 2 after “The number of shares outstanding of each registrant’s common stock as of March 31, 2025 was:”
Download CSV
| Exelon Corporation Common Stock, without par value | 1,009,535,664 |
| Commonwealth Edison Company Common Stock, $12.50 par value | 127,021,418 |
| PECO Energy Company Common Stock, without par value | 170,478,507 |
| Baltimore Gas and Electric Company Common Stock, without par value | 1,000 |
| Pepco Holdings LLC | not applicable |
| Potomac Electric Power Company Common Stock, $0.01 par value | 100 |
| Delmarva Power & Light Company Common Stock, $2.25 par value | 1,000 |
| Atlantic City Electric Company Common Stock, $3.00 par value | 8,546,017 |
| Page No. | |
| GLOSSARY OF TERMS AND ABBREVIATIONS | 4 | |
| FILING FORMAT | 7 | |
| CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION | 7 | |
| WHERE TO FIND MORE INFORMATION | 8 | |
| PART I. | FINANCIAL INFORMATION | 9 |
| ITEM 1. | FINANCIAL STATEMENTS | 9 |
| Exelon Corporation | |
First 8 of 32 rows. The CSV has all of them.
| Page No. | |
| Potomac Electric Power Company | |
| Statements of Operations and Comprehensive Income | 35 |
| Statements of Cash Flows | 36 |
| Balance Sheets | 37 |
| Statements of Changes in Shareholder's Equity | 39 |
| Delmarva Power & Light Company | |
| Statements of Operations and Comprehensive Income | 40 |
First 8 of 32 rows. The CSV has all of them.
| Page No. | |
| ITEM 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 88 |
| Exelon Corporation | 88 |
| Executive Overview | 88 |
| Financial Results of Operations | 88 |
| Significant 2025 Transactions and Developments | 89 |
| Other Key Business Drivers and Management Strategies | 92 |
| Critical Accounting Policies and Estimates | 93 |
First 8 of 33 rows. The CSV has all of them.
| GLOSSARY OF TERMS AND ABBREVIATIONS | |
| Other Terms and Abbreviations | |
| Note - of the 2024 Form 10-K | Reference to specific Combined Note to Consolidated Financial Statements within Exelon's 2024 Annual Report on Form 10-K |
| ABO | Accumulated Benefit Obligation |
| AFUDC | Allowance for Funds Used During Construction |
| AMI | Advanced Metering Infrastructure |
| AOCI | Accumulated Other Comprehensive Income (Loss) |
| ARO | Asset Retirement Obligation |
First 8 of 44 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions, except per share data) | 2025 | 2024 | |
| Operating revenues | | | |
| Electric operating revenues | $5,816 | | $5,198 |
| Natural gas operating revenues | 1,024 | | 739 |
| Revenues from alternative revenue programs | (126) | | 106 |
| Total operating revenues | 6,714 | | 6,043 |
| Operating expenses | | | |
First 8 of 40 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Cash flows from operating activities | | | |
| Net income | $908 | | $658 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation, amortization, and accretion | 905 | | 880 |
| Loss (gain) on sales of assets | 1 | | (2) |
| Deferred income taxes and amortization of investment tax credits | 121 | | 46 |
First 8 of 41 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $1,004 | | $357 |
| Restricted cash and cash equivalents | 578 | | 541 |
| Accounts receivable | | | |
| Customer accounts receivable | 3,488 | 3,144 | |
| Customer allowance for credit losses | (486) | (406) | |
First 8 of 28 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $1,084 | | $1,859 |
| Long-term debt due within one year | 1,454 | | 1,453 |
| Accounts payable | 2,693 | | 2,994 |
| Accrued expenses | 1,186 | | 1,468 |
| Payables to affiliates | 5 | | 5 |
First 8 of 36 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 | | | | | | | | | |
| (In millions, shares in thousands) | Issued Shares | Common Stock | | Treasury Stock | Retained Earnings | Accumulated Other Comprehensive Loss, net | | Total Shareholders' Equity | | |
| Balance at December 31, 2024 | 1,007,046 | | $21,338 | | $(123) | | $6,426 | $(720) | | $26,921 |
| Net income | — | | — | | — | | 908 | — | | 908 |
| Long-term incentive plan activity | 299 | | 4 | | — | | — | — | | 4 |
| Employee stock purchase plan activity | (8) | | 2 | | — | | — | — | | 2 |
| Issuance of Common Stock | 4,031 | | 173 | | — | | — | — | | 173 |
| Common stock dividends($0.40/common share) | — | | — | | — | | (403) | | (403) | |
First 8 of 10 rows. The CSV has all of them.
| Three Months Ended March 31, 2024 | | | | | | | | |
| (In millions, shares in thousands) | Issued Shares | Common Stock | | Treasury Stock | Retained Earnings | Accumulated Other Comprehensive Loss, net | | Total Shareholders' Equity | |
| Balance at December 31, 2023 | 1,001,249 | | $21,114 | | $(123) | | $5,490 | $(726) | $25,755 |
| Net income | — | | — | | — | | 658 | — | 658 |
| Long-term incentive plan activity | 333 | | 2 | | — | | — | — | 2 |
| Employee stock purchase plan activity | 276 | | 13 | | — | | — | — | 13 |
| Common stock dividends($0.38/common share) | — | | — | | — | | (381) | — | (381) |
| Other comprehensive income, net of income taxes | — | | — | | — | | — | 14 | 14 |
First 8 of 9 rows. The CSV has all of them.
| Three Months Ended March 31, | | | |
| (In millions) | | 2025 | 2024 | |
| Operating revenues | | | | |
| Electric operating revenues | | $2,142 | | $2,074 |
| Revenues from alternative revenue programs | | (85) | | 19 |
| Operating revenues from affiliates | | 8 | | 2 |
| Total operating revenues | | 2,065 | | 2,095 |
| Operating expenses | | | | |
First 8 of 24 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Cash flows from operating activities | | | |
| Net income | $302 | | $193 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation and amortization | 380 | | 362 |
| Deferred income taxes and amortization of investment tax credits | (8) | | (1) |
| Other non-cash operating activities | 141 | | (6) |
First 8 of 34 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $96 | | $105 |
| Restricted cash and cash equivalents | 501 | | 486 |
| Accounts receivable | | | |
| Customer accounts receivable | 1,079 | 994 | |
| Customer allowance for credit losses | (125) | (109) | |
First 8 of 27 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $347 | | $36 |
| Accounts payable | 656 | | 748 |
| Accrued expenses | 403 | | 463 |
| Payables to affiliates | 60 | | 77 |
| Customer deposits | 147 | | 134 |
First 8 of 30 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 | | | | | |
| (In millions) | Common Stock | Other Paid-In Capital | | Retained Earnings | Total Shareholders’ 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 Ended March 31, 2024 | | | | | |
First 8 of 14 rows. The CSV has all of them.
| Three Months Ended March 31, | | | |
| (In millions) | | 2025 | 2024 | |
| Operating revenues | | | | |
| Electric operating revenues | | $963 | | $782 |
| Natural gas operating revenues | | 376 | | 272 |
| Revenues from alternative revenue programs | | (9) | | (2) |
| Operating revenues from affiliates | | 3 | | 2 |
| Total operating revenues | | 1,333 | | 1,054 |
First 8 of 27 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Cash flows from operating activities | | | |
| Net income | $266 | | $149 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation and amortization | 109 | | 104 |
| Gain on sales of assets | — | | (2) |
| Deferred income taxes and amortization of investment tax credits | (18) | | (8) |
First 8 of 34 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $54 | | $48 |
| Accounts receivable | | | |
| Customer accounts receivable | 788 | 670 | |
| Customer allowance for credit losses | (160) | (133) | |
| Customer accounts receivable, net | 628 | | 537 |
First 8 of 28 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| LIABILITIES AND SHAREHOLDER'S EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $— | | $192 |
| Long-term debt due within one year | 350 | | 350 |
| Accounts payable | 631 | | 639 |
| Accrued expenses | 169 | | 166 |
| Payables to affiliates | 37 | | 41 |
First 8 of 28 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 | | | | |
| (In millions) | Common Stock | Retained Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2024 | $4,645 | | $2,170 | | $6,815 |
| Net income | — | | 266 | | 266 |
| Common stock dividends | — | | (137) | | (137) |
| Contributions from parent | 563 | | — | | 563 |
| Balance at March 31, 2025 | $5,208 | | $2,299 | | $7,507 |
| Three Months Ended March 31, 2024 | | | | |
First 8 of 14 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Operating revenues | | | |
| Electric operating revenues | $1,021 | | $857 |
| Natural gas operating revenues | 560 | | 395 |
| Revenues from alternative revenue programs | (29) | | 43 |
| Operating revenues from affiliates | 2 | | 2 |
| Total operating revenues | 1,554 | | 1,297 |
First 8 of 25 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Cash flows from operating activities | | | |
| Net income | $260 | | $264 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation and amortization | 164 | | 150 |
| Deferred income taxes and amortization of investment tax credits | 35 | | (4) |
| Other non-cash operating activities | 55 | | (21) |
First 8 of 32 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $14 | | $33 |
| Restricted cash and cash equivalents | 3 | | 1 |
| Accounts receivable | | | |
| Customer accounts receivable | 805 | 654 | |
| Customer allowance for credit losses | (72) | (56) | |
First 8 of 28 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| LIABILITIES AND SHAREHOLDER'S EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $237 | | $175 |
| Accounts payable | 445 | | 515 |
| Accrued expenses | 211 | | 176 |
| Payables to affiliates | 38 | | 48 |
| Customer deposits | 119 | | 118 |
First 8 of 27 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 | | | | |
| (In millions) | Common Stock | Retained Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2024 | $3,483 | | $2,403 | | $5,886 |
| Net income | — | | 260 | | 260 |
| Common stock dividends | — | | (98) | | (98) |
| Balance at March 31, 2025 | $3,483 | | $2,565 | | $6,048 |
| Three Months Ended March 31, 2024 | | | | |
| (In millions) | Common Stock | Retained Earnings | | Total Shareholder's Equity | |
First 8 of 12 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Operating revenues | | | |
| Electric operating revenues | $1,691 | | $1,485 |
| Natural gas operating revenues | 88 | | 72 |
| Revenues from alternative revenue programs | (3) | | 46 |
| Operating revenues from affiliates | 2 | | 3 |
| Total operating revenues | 1,778 | | 1,606 |
First 8 of 27 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Cash flows from operating activities | | | |
| Net income | $194 | | $168 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation and amortization | 234 | | 246 |
| Loss on sales of assets | 1 | | — |
| Deferred income taxes and amortization of investment tax credits | 32 | | 16 |
First 8 of 37 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $127 | | $139 |
| Restricted cash and cash equivalents | 43 | | 24 |
| Accounts receivable | | | |
| Customer accounts receivable | 815 | 827 | |
| Customer allowance for credit losses | (129) | (108) | |
First 8 of 30 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| LIABILITIES AND MEMBER'S EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $— | | $530 |
| Long-term debt due within one year | 292 | | 290 |
| Accounts payable | 605 | | 721 |
| Accrued expenses | 317 | | 367 |
| Payables to affiliates | 57 | | 66 |
First 8 of 31 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 | | | | |
| (In millions) | Membership Interest | Undistributed (Losses)/Gains | | Total Member's Equity | |
| Balance at December 31, 2024 | $12,562 | | $(240) | | $12,322 |
| Net income | — | | 194 | | 194 |
| Distributions to member | — | | (132) | | (132) |
| Contributions from member | 352 | | — | | 352 |
| Balance at March 31, 2025 | $12,914 | | $(178) | | $12,736 |
| Three Months Ended March 31, 2024 | | | | |
| (In millions) | Membership Interest | Undistributed (Losses)/Gains | | Total Member's Equity | |
| Balance at December 31, 2023 | $12,057 | | $(275) | | $11,782 |
| Net income | — | | 168 | | 168 |
| Distributions to member | — | | (118) | | (118) |
| Contributions from member | 487 | | — | | 487 |
| Balance at March 31, 2024 | $12,544 | | $(225) | | $12,319 |
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Operating revenues | | | |
| Electric operating revenues | $855 | | 728 |
| Revenues from alternative revenue programs | 2 | | 29 |
| Operating revenues from affiliates | 2 | | 2 |
| Total operating revenues | 859 | | 759 |
| Operating expenses | | | |
First 8 of 24 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Cash flows from operating activities | | | |
| Net income | $97 | | $75 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation and amortization | 105 | | 107 |
| Deferred income taxes and amortization of investment tax credits | 10 | | 3 |
| Loss on sales of assets | 1 | | — |
First 8 of 37 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $58 | | $30 |
| Restricted cash and cash equivalents | 31 | | 21 |
| Accounts receivable | | | |
| Customer accounts receivable | 404 | 395 | |
| Customer allowance for credit losses | (69) | (59) | |
First 8 of 26 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| LIABILITIES AND SHAREHOLDER'S EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $— | | $200 |
| Long-term debt due within one year | 6 | | 6 |
| Accounts payable | 303 | | 360 |
| Accrued expenses | 192 | | 201 |
| Payables to affiliates | 34 | | 37 |
First 8 of 28 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 | | | | |
| (In millions) | Common Stock | Retained Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2024 | $3,335 | | $1,100 | | $4,435 |
| Net income | — | | 97 | | 97 |
| Common stock dividends | — | | (66) | | (66) |
| Contributions from parent | 157 | | — | | 157 |
| Balance at March 31, 2025 | $3,492 | | $1,131 | | $4,623 |
| Three Months Ended March 31, 2024 | | | | |
| (In millions) | Common Stock | Retained Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2023 | $3,075 | | $1,069 | | $4,144 |
| Net income | — | | 75 | | 75 |
| Common stock dividends | — | | (51) | | (51) |
| Contributions from parent | 251 | | — | | 251 |
| Balance at March 31, 2024 | $3,326 | | $1,093 | | $4,419 |
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Operating revenues | | | |
| Electric operating revenues | $463 | | $413 |
| Natural gas operating revenues | 88 | | 72 |
| Revenues from alternative revenue programs | (5) | | 4 |
| Operating revenues from affiliates | 2 | | 2 |
| Total operating revenues | 548 | | 491 |
First 8 of 25 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Cash flows from operating activities | | | |
| Net income | $69 | | $66 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation and amortization | 63 | | 61 |
| Deferred income taxes and amortization of investment tax credits | 9 | | 6 |
| Other non-cash operating activities | 21 | | 12 |
First 8 of 34 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $50 | | $21 |
| Restricted cash and cash equivalents | 11 | | 2 |
| Accounts receivable | | | |
| Customer accounts receivable | 215 | 210 | |
| Customer allowance for credit losses | (23) | (17) | |
First 8 of 29 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| LIABILITIES AND SHAREHOLDER'S EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $— | | $144 |
| Long-term debt due within one year | 131 | | 130 |
| Accounts payable | 131 | | 187 |
| Accrued expenses | 65 | | 55 |
| Payables to affiliates | 23 | | 26 |
First 8 of 28 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 | | | | |
| (In millions) | Common Stock | Retained Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2024 | $1,615 | | $627 | | $2,242 |
| Net income | — | | 69 | | 69 |
| Common stock dividends | — | | (46) | | (46) |
| Contributions from parent | 99 | | — | | 99 |
| Balance at March 31, 2025 | $1,714 | | $650 | | $2,364 |
| Three Months Ended March 31, 2024 | | | | |
| (In millions) | Common Stock | Retained Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2023 | $1,455 | | $638 | | $2,093 |
| Net income | — | | 66 | | 66 |
| Common stock dividends | — | | (45) | | (45) |
| Contributions from parent | 154 | | — | | 154 |
| Balance at March 31, 2024 | $1,609 | | $659 | | $2,268 |
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Operating revenues | | | |
| Electric operating revenues | $372 | | $344 |
| Revenues from alternative revenue programs | — | | 13 |
| Operating revenues from affiliates | 1 | | 1 |
| Total operating revenues | 373 | | 358 |
| Operating expenses | | | |
First 8 of 23 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2025 | 2024 | |
| Cash flows from operating activities | | | |
| Net income | $31 | | $29 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation and amortization | 64 | | 74 |
| Deferred income taxes and amortization of investment tax credits | 8 | | 7 |
| Other non-cash operating activities | 25 | | 2 |
First 8 of 35 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $18 | | $14 |
| Restricted cash and cash equivalents | 1 | | — |
| Accounts receivable | | | |
| Customer accounts receivable | 196 | 223 | |
| Customer allowance for credit losses | (37) | (32) | |
First 8 of 24 rows. The CSV has all of them.
| (In millions) | March 31, 2025 | December 31, 2024 | |
| LIABILITIES AND SHAREHOLDER'S EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $— | | $186 |
| Long-term debt due within one year | 154 | | 154 |
| Accounts payable | 162 | | 163 |
| Accrued expenses | 43 | | 52 |
| Payables to affiliates | 20 | | 22 |
First 8 of 26 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 | | | | |
| (In millions) | Common Stock | Retained (Deficit) Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2024 | $1,915 | | $10 | | $1,925 |
| Net income | — | | 31 | | 31 |
| Common stock dividends | — | | (20) | | (20) |
| Contributions from parent | 94 | | — | | 94 |
| Balance at March 31, 2025 | $2,009 | | $21 | | $2,030 |
| Three Months Ended March 31, 2024 | | | | |
| (In millions) | Common Stock | Retained (Deficit) Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2023 | $1,830 | | $(18) | | $1,812 |
| Net income | — | | 29 | | 29 |
| Common stock dividends | — | | (22) | | (22) |
| Contributions from parent | 81 | | — | | 81 |
| Balance at March 31, 2024 | $1,911 | | $(11) | | $1,900 |
Table 52 after “Completed Distribution Base Rate Case Proceedings”
Download CSV
| Registrant/Jurisdiction | | Filing Date | | Service | | Requested Revenue Requirement Increase | | Approved Revenue Requirement Increase | | Approved ROE | | Approval Date | | Rate Effective Date | | |
| ComEd - Illinois | | January 17, 2023(a) | | Electric | | $1,487 | | | $1,045 | | | 8.905% | | December 19, 2024 | | January 1, 2024 |
| April 26, 2024 (amended on September 11, 2024)(b) | | Electric | | $624 | | | $623 | | | 9.89% | | October 31, 2024 | | January 1, 2025 | |
| PECO - Pennsylvania | | March 28, 2024 | | Electric(c)(d) | | $464 | | | $354 | | | N/A(e) | | December 12, 2024 | | January 1, 2025 |
| Natural Gas(d) | $111 | | | $78 | | | | | | | | | | | | |
| BGE - Maryland(f) | | February 17, 2023 | | Electric | | $313 | | | $179 | | | 9.50% | | December 14, 2023 | | January 1, 2024 |
| | Natural Gas | | $289 | | | $229 | | | 9.45% | | | | | | |
| Pepco - District of Columbia(g) | | April 13, 2023 (amended February 27, 2024) | | Electric | | $186 | | | $123 | | | 9.50% | | November 26, 2024 | | January 1, 2025 |
First 8 of 12 rows. The CSV has all of them.
Table 53 after “Pending Distribution Base Rate Case Proceedings”
Download CSV
| Registrant/Jurisdiction | Filing Date | Service | Requested Revenue Requirement Increase | Requested ROE | | Expected Approval Timing | |
| DPL - Delaware(a) | September 20, 2024 (amended February 28, 2025) | Natural Gas | $42 | | 10.65% | | First quarter of 2026 |
| ACE - New Jersey(b) | November 21, 2024 | Electric | 109 | | 10.70% | | Fourth quarter of 2025 |
Table 54 after “For 2025, the following increase was included in the Utility Registrant's electric transmission formula rate update:”
Download CSV
| Registrant(a) | Initial Revenue Requirement Increase | Annual Reconciliation Increase | | Total Revenue Requirement Increase(b) | Allowed Return on Rate Base(c) | Allowed ROE(d) | | |
| BGE | $21 | | $21 | | $35 | (e) | 7.53% | 10.50% |
Table 55 after “related amounts at March 31, 2025 and December 31, 2024.”
Download CSV
| Exelon | ComEd(a) | | BGE(b) | PHI | Pepco(c) | | DPL(d) | ACE(e) | | |
| March 31, 2025 | $87 | | $38 | | $9 | | $40 | | $24 | $1 | $15 |
| December 31, 2024 | 117 | | 46 | | 16 | | 55 | | 40 | 1 | 14 |
Table 56 after “The following table provides a rollforward of the contract liabilities reflected in Exelon's, PHI's, Pepco's, DPL's, and ACE's Consolidated ”
Download CSV
| Exelon(a) | PHI(a) | | Pepco(a) | DPL | ACE | | |
| Balance at December 31, 2024 | $127 | | $127 | | $101 | | $13 | $13 |
| Revenues recognized | (1) | | (1) | | (1) | | — | — |
| Balance at March 31, 2025 | $126 | | $126 | | $100 | | $13 | $13 |
| Exelon(a) | PHI(a) | | Pepco(a) | DPL | ACE | | |
| Balance at December 31, 2023 | $133 | | $133 | | $107 | | $13 | $13 |
| Revenues recognized | (2) | | (2) | | (2) | | — | — |
| Balance at March 31, 2024 | $131 | | $131 | | $105 | | $13 | $13 |
Table 57 after “Note 3 — Revenue from Contracts with Customers”
Download CSV
| Year | Exelon | PHI | | Pepco | DPL | ACE | | |
| 2025 | $4 | | $4 | | $4 | | $— | $— |
| 2026 | 6 | | 6 | | 5 | | 1 | — |
| 2027 | 5 | | 5 | | 5 | | — | — |
| 2028 | 5 | | 5 | | 5 | | — | — |
| 2029 and thereafter | 106 | | 106 | | 81 | | 12 | 13 |
| Total | $126 | | $126 | | $100 | | $13 | $13 |
Table 58 after “An analysis and reconciliation of the Registrants’ reportable segment information to the respective information in the consolidated financia”
Download CSV
| ComEd | PECO | | BGE | PHI | Other(a) | | Intersegment Eliminations | Exelon | | |
| Operating revenues(b): | | | | | | | | | | | |
| 2025 | | | | | | | | | | | |
| Electric revenues | $2,065 | | $956 | | $1,012 | | $1,687 | | $— | $(11) | $5,709 |
| Natural gas revenues | — | | 377 | | 542 | | 88 | | — | (2) | 1,005 |
| Shared service and other revenues | — | | — | | — | | 3 | | 466 | (469) | — |
| Total operating revenues | $2,065 | | $1,333 | | $1,554 | | $1,778 | | $466 | $(482) | $6,714 |
| 2024 | | | | | | | | | | | |
First 8 of 19 rows. The CSV has all of them.
| ComEd | PECO | | BGE | PHI | Other(a) | | Intersegment Eliminations | Exelon | | |
| Operating and maintenance | | | | | | | | | | | |
| 2025 | $323 | | $266 | | $242 | | $296 | | $429 | $(209) | $1,347 |
| 2024 | 318 | | 235 | | 205 | | 274 | | 438 | (199) | 1,271 |
| Operating and maintenance from affiliates | | | | | | | | | | | |
| 2025 | $100 | | $61 | | $63 | | $53 | | $11 | $(288) | $— |
| 2024 | 100 | | 58 | | 59 | | 51 | | 9 | (277) | — |
| Depreciation and amortization | | | | | | | | | | | |
First 8 of 41 rows. The CSV has all of them.
| Pepco | DPL | | ACE | Other(a) | Intersegment Eliminations | | PHI | | |
| Operating revenues(b): | | | | | | | | | | |
| 2025 | | | | | | | | | | |
| Electric revenues | $859 | | $460 | | $373 | | $— | | $(5) | $1,687 |
| Natural gas revenues | — | | 88 | | — | | — | | — | 88 |
| Shared service and other revenues | — | | — | | — | | 106 | | (103) | 3 |
| Total operating revenues | $859 | | $548 | | $373 | | $106 | | $(108) | $1,778 |
| 2024 | | | | | | | | | | |
First 8 of 43 rows. The CSV has all of them.
| Income taxes | | | | | | |
| 2025 | $25 | $21 | $11 | $— | $— | $57 |
| 2024 | 14 | 17 | 11 | (2) | — | 40 |
| Net income (loss) attributable to common shareholders | | | | | | |
| 2025 | $97 | $69 | $31 | $(3) | $— | $194 |
| 2024 | 75 | 66 | 29 | (2) | — | 168 |
| Supplemental segment information | | | | | | |
| Intersegment revenues(d) | | | | | | |
First 8 of 16 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 | | | | | | | | | | |
| Revenues from contracts with customers | ComEd | PECO | | BGE | PHI | Pepco | | DPL | ACE | | |
| Electric revenues | | | | | | | | | | | |
| Residential | $993 | | $631 | | $648 | | $918 | | $424 | $298 | $196 |
| Small commercial & industrial | 600 | | 162 | | 109 | | 169 | | 51 | 64 | 54 |
| Large commercial & industrial | 296 | | 84 | | 144 | | 367 | | 289 | 28 | 50 |
| Public authorities & electric railroads | 17 | | 8 | | 8 | | 17 | | 8 | 4 | 5 |
| Other(a) | 236 | | 76 | | 113 | | 223 | | 86 | 71 | 68 |
First 8 of 23 rows. The CSV has all of them.
| Three Months Ended March 31, 2024 | | | | | | | | | | |
| Revenues from contracts with customers | ComEd | PECO | | BGE | PHI | Pepco | | DPL | ACE | | |
| Electric revenues | | | | | | | | | | | |
| Residential | $918 | | $520 | | $534 | | $775 | | $345 | $256 | $174 |
| Small commercial & industrial | 594 | | 126 | | 90 | | 158 | | 46 | 62 | 50 |
| Large commercial & industrial | 320 | | 57 | | 132 | | 340 | | 262 | 29 | 49 |
| Public authorities & electric railroads | 17 | | 7 | | 7 | | 20 | | 11 | 4 | 5 |
| Other(a) | 227 | | 74 | | 93 | | 192 | | 64 | 63 | 67 |
First 8 of 23 rows. The CSV has all of them.
Table 64 after “The following tables present the rollforward of Allowance for Credit Losses on Customer Accounts Receivable.”
Download CSV
| Three Months Ended March 31, 2025 | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Balance at December 31, 2024 | $406 | | $109 | | $133 | | $56 | | $108 | | $59 | $17 | $32 |
| Plus: Current period provision for expected credit losses(a) | 133 | | 33 | | 41 | | 23 | | 36 | | 17 | 10 | 9 |
| Less: Write-offs(b), net of recoveries(c) | 53 | | 17 | | 14 | | 7 | | 15 | | 7 | 4 | 4 |
| Balance at March 31, 2025 | $486 | | $125 | | $160 | | $72 | | $129 | | $69 | $23 | $37 |
| Three Months Ended March 31, 2024 | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
First 8 of 12 rows. The CSV has all of them.
Table 65 after “The following tables present the rollforward of Allowance for Credit Losses on Other Accounts Receivable.”
Download CSV
| Three Months Ended March 31, 2025 | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Balance at December 31, 2024 | $107 | | $34 | | $18 | | $6 | | $49 | | $27 | $9 | $13 |
| Plus: Current period provision for expected credit losses(a) | 15 | | 2 | | 9 | | 1 | | 3 | | — | — | 3 |
| Less: Write-offs(b), net of recoveries(c) | 9 | | 2 | | 5 | | 1 | | 1 | | — | — | 1 |
| Balance at March 31, 2025 | $113 | | $34 | | $22 | | $6 | | $51 | | $27 | $9 | $15 |
| Three Months Ended March 31, 2024 | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
First 8 of 12 rows. The CSV has all of them.
Table 66 after “The following table provides additional information about unbilled customer revenues recorded in the Registrants' Consolidated Balance Sheet”
Download CSV
| Unbilled customer revenues(a) | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| March 31, 2025 | $961 | | $366 | | $235 | | $171 | | $189 | | $95 | $51 | $43 |
| December 31, 2024 | 1,114 | | 335 | | 254 | | 257 | | 268 | | 121 | 76 | 71 |
Table 67 after “For the three months ended March 31, 2025 and 2024, the Utility Registrants were required, under separate legislation and regulations in Ill”
Download CSV
| Total receivables purchased | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Three months ended March 31, 2025 | $1,138 | | $253 | | $334 | | $225 | | $326 | | $201 | $68 | $57 |
| Three months ended March 31, 2024 | 1,060 | | 235 | | 297 | | 219 | | 309 | | 194 | 60 | 55 |
Table 68 after “The effective income tax rate from continuing operations varies from the U.S. federal statutory rate principally due to the following:”
Download CSV
| Three Months Ended March 31, 2025(a) | | | | | | | | | | | | |
| Exelon | ComEd(b) | | PECO(c) | BGE | PHI | | Pepco | DPL | ACE | | | |
| U.S. Federal statutory rate | 21.0% | | 21.0% | | 21.0% | | 21.0% | | 21.0% | | 21.0% | 21.0% | 21.0% |
| Increase (decrease) due to: | | | | | | | | | | | | | |
| State income taxes, net of federal income tax benefit | 5.1 | | 7.6 | | (3.5) | | 6.2 | | 6.5 | | 6.4 | 6.4 | 7.0 |
| Plant basis differences | (3.8) | | (1.0) | | (11.1) | | (1.5) | | (0.7) | | (1.0) | (0.5) | (0.3) |
| Excess deferred tax amortization | (6.5) | | (9.4) | | (1.6) | | (4.1) | | (3.9) | | (5.3) | (3.3) | (1.4) |
| Amortization of investment tax credit, including deferred taxes on basis difference | — | | (0.1) | | — | | — | | — | | — | (0.1) | (0.1) |
First 8 of 11 rows. The CSV has all of them.
Table 69 after “The effective income tax rate from continuing operations varies from the U.S. federal statutory rate principally due to the following:”
Download CSV
| Three Months Ended March 31, 2024(a) | | | | | | | | | | | | |
| Exelon | ComEd(d) | | PECO(c) | BGE(d) | PHI | | Pepco | DPL | ACE | | | |
| U.S. Federal statutory rate | 21.0% | | 21.0% | | 21.0% | | 21.0% | | 21.0% | | 21.0% | 21.0% | 21.0% |
| Increase (decrease) due to: | | | | | | | | | | | | | |
| State income taxes, net of federal income tax benefit | 6.4 | | 7.8 | | (0.6) | | 6.3 | | 6.4 | | 6.2 | 6.2 | 7.1 |
| Plant basis differences | (3.8) | | (0.9) | | (12.2) | | (1.2) | | (0.9) | | (1.3) | (1.1) | 0.1 |
| Excess deferred tax amortization | (14.7) | | (18.9) | | (2.3) | | (17.5) | | (6.8) | | (9.9) | (5.4) | (1.3) |
| Amortization of investment tax credit, including deferred taxes on basis difference | (0.1) | | (0.1) | | — | | — | | (0.1) | | — | (0.1) | (0.1) |
First 8 of 11 rows. The CSV has all of them.
Table 70 after “Exelon, PHI and DPL have the following unrecognized tax benefits at March 31, 2025 and December 31, 2024. ComEd's, PECO's, BGE's, Pepco's, a”
Download CSV
| Exelon(a) | PHI | | DPL | |
| March 31, 2025 | $100 | | $51 | | $15 |
| December 31, 2024 | 96 | | 48 | | 12 |
Table 71 after “A portion of the net periodic benefit cost for all plans is capitalized within the Consolidated Balance Sheets. The following table presents”
Download CSV
| Pension Benefits | OPEB | | | | |
| Three Months Ended March 31, | Three Months Ended March 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Components of net periodic benefit cost | | | | | | |
| Service cost | $38 | | $42 | | $6 | $7 |
| Interest cost | 146 | | 141 | | 25 | 24 |
| Expected return on assets | (178) | | (184) | | (21) | (21) |
| Amortization of: | | | | | | |
First 8 of 11 rows. The CSV has all of them.
| Three Months Ended March 31, | | | |
| Pension and OPEB Costs | | 2025 | 2024 | |
| Exelon | | $68 | | $61 |
| ComEd | | 21 | | 17 |
| PECO | | 2 | | — |
| BGE | | 16 | | 15 |
| PHI | | 25 | | 23 |
| Pepco | | 8 | | 9 |
First 8 of 10 rows. The CSV has all of them.
Table 73 after “The Registrants participate in a 401(k) defined contribution savings plan that is sponsored by Exelon. The plan is qualified under applicabl”
Download CSV
| Three Months Ended March 31, | | | |
| Savings Plan Employer Contributions | | 2025 | 2024 | |
| Exelon | | $26 | | $22 |
| ComEd | | 10 | | 10 |
| PECO | | 4 | | 3 |
| BGE | | 3 | | 3 |
| PHI | | 5 | | 2 |
| Pepco | | 1 | | 1 |
First 8 of 10 rows. The CSV has all of them.
| Derivatives Designated as Hedging Instruments | | |
| March 31, 2025 | December 31, 2024 | |
| Other current assets | $— | | $14 |
| Other deferred debits (noncurrent assets) | 4 | | 12 |
| Total derivative assets | 4 | | 26 |
| Mark-to-market derivative liabilities (current liabilities) | — | | (1) |
| Mark-to-market derivative liabilities (noncurrent liabilities) | (4) | | — |
| Total mark-to-market derivative liabilities | (4) | | (1) |
First 8 of 9 rows. The CSV has all of them.
Table 75 after “The following table provides the notional amounts outstanding held by Exelon at March 31, 2025 and December 31, 2024.”
Download CSV
| March 31, 2025 | December 31, 2024 | |
| 5-year maturity floating-to-fixed swaps | $275 | | $657 |
| 10-year maturity floating-to-fixed swaps | 275 | | 658 |
| Total | $550 | | $1,315 |
Table 76 after “Note 8 — Derivative Financial Instruments”
Download CSV
| March 31, 2025 | December 31, 2024 | |
| Exelon | $225 | | $181 |
| ComEd | 181 | | 176 |
| PECO(a) | 12 | | — |
| BGE | 1 | | 1 |
| PHI | 31 | | 4 |
| Pepco | 11 | | 1 |
| DPL | 11 | | 2 |
First 8 of 9 rows. The CSV has all of them.
Table 77 after “The following table reflects the Registrants' commercial paper programs supported by the revolving credit agreements at March 31, 2025 and D”
Download CSV
| Outstanding Commercial Paper at | Average Interest Rate on Commercial Paper Borrowings at | | | | |
| Commercial Paper Issuer | March 31, 2025 | December 31, 2024 | | March 31, 2025 | December 31, 2024 | |
| Exelon(a) | $584 | | $1,359 | | 4.62% | 4.66% |
| ComEd | $347 | | $36 | | 4.61% | 4.55% |
| PECO | $— | | $192 | | —% | 4.65% |
| BGE | $237 | | $175 | | 4.63% | 4.61% |
| PHI(b) | $— | | $530 | | —% | 4.70% |
| Pepco | $— | | $200 | | —% | 4.69% |
First 8 of 10 rows. The CSV has all of them.
Table 78 after “On August 29, 2024, Exelon Corporate and each of the Utility Registrants amended and restated their respective syndicated revolving credit f”
Download CSV
| Borrower | Aggregate Bank Commitment | Interest Rate | |
| Exelon Corporate | $900 | | SOFR plus 1.075% |
| ComEd | $1,000 | | SOFR plus 1.000% |
| PECO | $600 | | SOFR plus 0.900% |
| BGE | $600 | | SOFR plus 0.900% |
| Pepco | $300 | | SOFR plus 1.000% |
| DPL | $300 | | SOFR plus 1.000% |
| ACE | $300 | | SOFR plus 1.000% |
Table 79 after “During the three months ended March 31, 2025, the following long-term debt was issued:”
Download CSV
| Company | Type | Interest Rate | Maturity | Amount | Use of Proceeds |
| Exelon | Junior Subordinated Notes(a) | 6.50% | March 15, 2055 | $1,000 | Repay outstanding commercial paper obligations, and for general corporate purposes. |
| Exelon | Notes | 5.125% | March 15, 2031 | $500 | Repay outstanding commercial paper obligations, and for general corporate purposes. |
| Exelon | Notes | 5.875% | March 15, 2055 | $500 | Repay outstanding commercial paper obligations, and for general corporate purposes. |
| Pepco(b) | First Mortgage Bonds | 5.48% | March 26, 2040 | $200 | Repay existing indebtedness and for general corporate purposes. |
| DPL | First Mortgage Bonds | 5.28% | March 26, 2035 | $125 | Repay existing indebtedness and for general corporate purposes. |
| ACE(c) | First Mortgage Bonds | 5.28% | March 26, 2035 | $100 | Repay existing indebtedness and for general corporate purposes. |
Table 80 after “The carrying amounts of the Registrants’ short-term liabilities as presented in their Consolidated Balance Sheets are representative of thei”
Download CSV
| March 31, 2025 | | December 31, 2024 | | | | | | | | | | | | | | | |
| Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | | | | | | | | | | | |
| | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | Level 2 | Level 3 | | Total | | | | |
| Long-Term Debt, including amounts due within one year(a) | | | | | | | | | | | | | | | | | | |
| Exelon | $46,796 | | | $— | | | $37,601 | | $4,159 | | $41,760 | | $44,400 | | $— | $35,337 | $3,720 | $39,057 |
| ComEd | 12,031 | | | — | | | 10,330 | | — | | 10,330 | | 12,030 | | — | 10,260 | — | 10,260 |
| PECO | 5,704 | | | — | | | 4,827 | | — | | 4,827 | | 5,704 | | — | 4,816 | — | 4,816 |
| BGE | 5,396 | | | — | | | 4,726 | | — | | 4,726 | | 5,395 | | — | 4,702 | — | 4,702 |
First 8 of 16 rows. The CSV has all of them.
| At March 31, 2025 | At December 31, 2024 | | | | | | | | | | | | |
| Level 1 | Level 2 | | Level 3 | | Total | Level 1 | | Level 2 | Level 3 | | Total | | |
| Assets | | | | | | | | | | | | | | |
| Cash equivalents(a) | $1,190 | | $— | | $— | | | $1,190 | | $544 | $— | | $— | $544 |
| Rabbi trust investments | | | | | | | | | | | | | | |
| Cash equivalents | 95 | | — | | — | | | 95 | | 94 | — | | — | 94 |
| Mutual funds | 63 | | — | | — | | | 63 | | 65 | — | | — | 65 |
| Fixed income | — | | 6 | | — | | | 6 | | — | 6 | | — | 6 |
First 8 of 24 rows. The CSV has all of them.
| ComEd | PECO | | BGE | | | | | | | | | | | | | | | | |
| At March 31, 2025 | Level 1 | Level 2 | | Level 3 | Total | Level 1 | | Level 2 | Level 3 | Total | | Level 1 | Level 2 | Level 3 | | Total | | | | |
| Assets | | | | | | | | | | | | | | | | | | | | |
| Cash equivalents(a) | $345 | | $— | | $— | | $345 | | $2 | | $— | | $— | | $2 | | $3 | $— | $— | $3 |
| Rabbi trust investments | | | | | | | | | | | | | | | | | | | | |
| Mutual funds | — | | — | | — | | — | | 11 | | — | | — | | 11 | | 10 | — | — | 10 |
| Life insurance contracts | — | | — | | — | | — | | — | | 21 | | — | | 21 | | — | — | — | — |
| Rabbi trust investments subtotal | — | | — | | — | | — | | 11 | | 21 | | — | | 32 | | 10 | — | — | 10 |
First 8 of 14 rows. The CSV has all of them.
| ComEd | PECO | | BGE | | | | | | | | | | | | | | | | |
| At December 31, 2024 | Level 1 | Level 2 | | Level 3 | Total | Level 1 | | Level 2 | Level 3 | Total | | Level 1 | Level 2 | Level 3 | | Total | | | | |
| Assets | | | | | | | | | | | | | | | | | | | | |
| Cash equivalents(a) | $390 | | $— | | $— | | $390 | | $29 | | $— | | $— | | $29 | | $1 | $— | $— | $1 |
| Rabbi trust investments | | | | | | | | | | | | | | | | | | | | |
| Mutual funds | — | | — | | — | | — | | 12 | | — | | — | | 12 | | 10 | — | — | 10 |
| Life insurance contracts | — | | — | | — | | — | | — | | 22 | | — | | 22 | | — | — | — | — |
| Rabbi trust investments subtotal | — | | — | | — | | — | | 12 | | 22 | | — | | 34 | | 10 | — | — | 10 |
First 8 of 14 rows. The CSV has all of them.
| At March 31, 2025 | At December 31, 2024 | | | | | | | | | | | |
| PHI | Level 1 | Level 2 | | Level 3 | Total | Level 1 | | Level 2 | Level 3 | Total | | | |
| Assets | | | | | | | | | | | | | |
| Cash equivalents(a) | $118 | | $— | | $— | | $118 | | $93 | | $— | $— | $93 |
| Rabbi trust investments | | | | | | | | | | | | | |
| Cash equivalents | 93 | | — | | — | | 93 | | 92 | | — | — | 92 |
| Mutual funds | 9 | | — | | — | | 9 | | 9 | | — | — | 9 |
| Fixed income | — | | 6 | | — | | 6 | | — | | 6 | — | 6 |
First 8 of 15 rows. The CSV has all of them.
| Pepco | DPL | | ACE | | | | | | | | | | | | | | | | |
| At March 31, 2025 | Level 1 | Level 2 | | Level 3 | Total | Level 1 | | Level 2 | Level 3 | Total | | Level 1 | Level 2 | Level 3 | | Total | | | | |
| Assets | | | | | | | | | | | | | | | | | | | | |
| Cash equivalents(a) | $69 | | $— | | $— | | $69 | | $49 | | $— | | $— | | $49 | | $— | $— | $— | $— |
| Rabbi trust investments | | | | | | | | | | | | | | | | | | | | |
| Cash equivalents | 92 | | — | | — | | 92 | | — | | — | | — | | — | | — | — | — | — |
| Life insurance contracts | — | | 23 | | 21 | | 44 | | — | | — | | — | | — | | — | — | — | — |
| Rabbi trust investments subtotal | 92 | | 23 | | 21 | | 136 | | — | | — | | — | | — | | — | — | — | — |
First 8 of 13 rows. The CSV has all of them.
| Pepco | DPL | | ACE | | | | | | | | | | | | | | | | |
| At December 31, 2024 | Level 1 | Level 2 | | Level 3 | Total | Level 1 | | Level 2 | Level 3 | Total | | Level 1 | Level 2 | Level 3 | | Total | | | | |
| Assets | | | | | | | | | | | | | | | | | | | | |
| Cash equivalents(a) | $21 | | $— | | $— | | $21 | | $3 | | $— | | $— | | $3 | | $— | $— | $— | $— |
| Rabbi trust investments | | | | | | | | | | | | | | | | | | | | |
| Cash equivalents | 91 | | — | | — | | 91 | | — | | — | | — | | — | | — | — | — | — |
| Life insurance contracts | — | | 23 | | 21 | | 44 | | — | | — | | — | | — | | — | — | — | — |
| Rabbi trust investments subtotal | 91 | | 23 | | 21 | | 135 | | — | | — | | — | | — | | — | — | — | — |
First 8 of 13 rows. The CSV has all of them.
Table 87 after “The following tables present the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis dur”
Download CSV
| Exelon | ComEd | | PHI and Pepco | | |
| Three Months Ended March 31, 2025 | Total | Commodity Derivatives | | Life Insurance Contracts | | |
| Balance at December 31, 2024 | $(110) | | $(132) | | | $21 |
| Total realized / unrealized gains (losses) | | | | | | |
| Included in net income(a) | — | | — | | | — |
| Included in regulatory assets/liabilities | (19) | | (19) | | (b) | — |
| Purchases, sales, and settlements | | | | | | |
| Balance at March 31, 2025 | $(129) | | $(151) | | (c) | $21 |
First 8 of 9 rows. The CSV has all of them.
Table 88 after “The following tables present the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis dur”
Download CSV
| Exelon | ComEd | | PHI and Pepco | | |
| Three Months Ended March 31, 2024 | Total | Commodity Derivatives | | Life Insurance Contracts | | |
| Balance at December 31, 2023 | $(90) | | $(133) | | | $41 |
| Total realized / unrealized gains (losses) | | | | | | |
| Included in net income(a) | — | | — | | | — |
| Included in regulatory assets/liabilities | 25 | | 25 | | (b) | — |
| Balance at March 31, 2024 | $(65) | | $(108) | | | $41 |
| The amount of total gains included in income attributed to the change in unrealized gains related to assets and liabilities at March 31, 2024 | $— | | $— | | | $— |
Table 89 after “The table below discloses the significant unobservable inputs to the forward curve used to value mark-to-market derivatives.”
Download CSV
| Type of trade | Fair Value at March 31, 2025 | Fair Value at December 31, 2024 | | Valuation Technique | Unobservable Input | 2025 Range & Arithmetic Average | 2024 Range & Arithmetic Average | | | | | | | |
| Commodity derivatives | $(151) | | $(132) | | Discounted Cash Flow | Forward power price(a) | $28.45 | - | $62.87 | $38.62 | $30.31 | - | $59.88 | $42.08 |
Table 90 after “The following amounts represent total commitment costs that have been recorded since the acquisition date and the total remaining obligation”
Download CSV
| Description | Exelon | PHI | | Pepco | DPL | ACE | | |
| Total commitments | $513 | | $320 | | $120 | | $89 | $111 |
| Remaining commitments(a) | 26 | | 23 | | 22 | | 1 | — |
Table 91 after “The Registrants’ commercial commitments at March 31, 2025, representing commitments potentially triggered by future events were as follows:”
Download CSV
| | Expiration within | | | | | | | | | |
| Total | 2025 | | 2026 | 2027 | 2028 | | 2029 | 2030 and beyond | | |
| Exelon | | | | | | | | | | | |
| Letters of credit(a) | $55 | | $47 | | $8 | | $— | | $— | $— | $— |
| Surety bonds(b) | 275 | | 182 | | 13 | | 2 | | 78 | — | — |
| Financing trust guarantees(c) | 378 | | — | | — | | — | | 78 | — | 300 |
| Guaranteed lease residual values(d) | 24 | | — | | 3 | | 4 | | 6 | 4 | 7 |
| Total commercial commitments | $732 | | $229 | | $24 | | $6 | | $162 | $4 | $307 |
First 8 of 41 rows. The CSV has all of them.
Table 92 after “At March 31, 2025 and December 31, 2024, the Registrants had accrued the following undiscounted amounts for environmental liabilities in Acc”
Download CSV
| March 31, 2025 | December 31, 2024 | | | | |
| Total Environmental Investigation and Remediation Liabilities | Portion of Total Related to MGP Investigation and Remediation | | Total Environmental Investigation and Remediation Liabilities | Portion of Total Related to MGP Investigation and Remediation | |
| Exelon | $396 | | $319 | | $403 | $322 |
| ComEd | 282 | | 282 | | 285 | 284 |
| PECO | 29 | | 27 | | 29 | 28 |
| BGE | 14 | | 10 | | 13 | 10 |
| PHI | 70 | | — | | 75 | — |
| Pepco | 68 | | — | | 73 | — |
First 8 of 10 rows. The CSV has all of them.
Table 93 after “The following table presents changes in Exelon's AOCI, net of tax, by component:”
Download CSV
| Three Months Ended March 31, 2025 | Cash Flow Hedges | Pension and Non-Pension Postretirement Benefit Plan Items(a) | | Total | |
| Balance at December 31, 2024 | $45 | | $(765) | | $(720) |
| OCI before reclassifications | (6) | | 5 | | (1) |
| Amounts reclassified from AOCI | (2) | | 5 | | 3 |
| Net current-period OCI | (8) | | 10 | | 2 |
| Balance at March 31, 2025 | $37 | | $(755) | | $(718) |
Table 94 after “The following table presents changes in Exelon's AOCI, net of tax, by component:”
Download CSV
| Three Months Ended March 31, 2024 | Cash Flow Hedges | Pension and Non-Pension Postretirement Benefit Plan Items(a) | | Total | |
| Balance at December 31, 2023 | $(3) | | $(723) | | $(726) |
| OCI before reclassifications | 34 | | (24) | | 10 |
| Amounts reclassified from AOCI | (1) | | 5 | | 4 |
| Net current-period OCI | 33 | | (19) | | 14 |
| Balance at March 31, 2024 | $30 | | $(742) | | $(712) |
Table 95 after “The following table presents Income tax benefit (expense) allocated to each component of Exelon's Other comprehensive income (loss):”
Download CSV
| Three Months Ended March 31, | | |
| 2025 | 2024 | |
| Pension and non-pension postretirement benefit plans: | | | |
| Actuarial losses reclassified to periodic benefit cost | $(2) | | $(2) |
| Pension and non-pension postretirement benefit plans valuation adjustments | (2) | | 8 |
| Unrealized gains on cash flow hedges | 3 | | (10) |
Table 96 after “Note 14 — Supplemental Financial Information”
Download CSV
| Taxes other than income taxes | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Three Months Ended March 31, 2025 | | | | | | | | | | | | | |
| Utility taxes(a) | $258 | | $81 | | $50 | | $34 | | $93 | | $84 | $8 | $1 |
| Property | 111 | | 9 | | 5 | | 57 | | 40 | | 28 | 12 | — |
| Payroll | 33 | | 8 | | 5 | | 5 | | 7 | | 1 | 1 | 1 |
| Three Months Ended March 31, 2024 | | | | | | | | | | | | | |
| Utility taxes(a) | $229 | | $75 | | $41 | | $31 | | $82 | | $74 | $8 | $— |
First 8 of 10 rows. The CSV has all of them.
Table 97 after “The Registrants' utility taxes represent municipal and state utility taxes and gross receipts taxes related to their operating revenues. The”
Download CSV
| Other, net | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Three Months Ended March 31, 2025 | | | | | | | | | | | | | |
| AFUDC — Equity | $39 | | $12 | | $7 | | $9 | | $11 | | $8 | $2 | $1 |
| Non-service net periodic benefit cost | (13) | | — | | — | | — | | — | | — | — | — |
| Three Months Ended March 31, 2024 | | | | | | | | | | | | | |
| AFUDC — Equity | $40 | | $10 | | $8 | | $7 | | $15 | | $12 | $3 | $— |
| Non-service net periodic benefit cost | (7) | | — | | — | | — | | — | | — | — | — |
Table 98 after “Note 14 — Supplemental Financial Information”
Download CSV
| Depreciation, amortization, and accretion | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Three Months Ended March 31, 2025 | | | | | | | | | | | | | |
| Property, plant, and equipment(a) | $750 | | $302 | | $108 | | $124 | | $201 | | $88 | $57 | $55 |
| Amortization of regulatory assets and liabilities, net(a) | 152 | | 78 | | 1 | | 40 | | 33 | | 17 | 6 | 9 |
| Amortization of intangible assets, net(a) | 2 | | — | | — | | — | | — | | — | — | — |
| ARO accretion(b) | 1 | | — | | — | | — | | — | | — | — | — |
| Total depreciation, amortization and accretion | $905 | | $380 | | $109 | | $164 | | $234 | | $105 | $63 | $64 |
First 8 of 14 rows. The CSV has all of them.
Table 99 after “Included in Operating and maintenance expense in Exelon's Consolidated Statements of Operations and Comprehensive Income.”
Download CSV
| Other non-cash operating activities | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Three Months Ended March 31, 2025 | | | | | | | | | | | | | |
| Pension and OPEB costs | $68 | | $21 | | $2 | | $16 | | $25 | | $8 | $4 | $3 |
| Allowance for credit losses | 97 | | 11 | | 43 | | 14 | | 29 | | 10 | 9 | 10 |
| True-up adjustments to decoupling mechanisms and formula rates(a) | 136 | | 85 | | 9 | | 29 | | 13 | | (2) | 5 | 10 |
| Amortization of operating ROU asset | 9 | | — | | — | | 2 | | 6 | | 1 | 2 | 2 |
| AFUDC — Equity | (39) | | (12) | | (7) | | (9) | | (11) | | (8) | (2) | (1) |
First 8 of 14 rows. The CSV has all of them.
Table 100 after “The following tables provide a reconciliation of cash, cash equivalents, and restricted cash reported within the Registrants’ Consolidated B”
Download CSV
| Cash, cash equivalents, and restricted cash | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Balance at March 31, 2025 | | | | | | | | | | | | | |
| Cash and cash equivalents | $1,004 | | $96 | | $54 | | $14 | | $127 | | $58 | $50 | $18 |
| Restricted cash and cash equivalents | 578 | | 501 | | — | | 3 | | 43 | | 31 | 11 | 1 |
| Restricted cash included in Other deferred debits and other assets | — | | — | | — | | — | | — | | — | — | — |
| Total cash, restricted cash, and cash equivalents | $1,582 | | $597 | | $54 | | $17 | | $170 | | $89 | $61 | $19 |
| Balance at December 31, 2024 | | | | | | | | | | | | | |
First 8 of 17 rows. The CSV has all of them.
Table 101 after “Note 14 — Supplemental Financial Information”
Download CSV
| Accrued expenses | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Balance at March 31, 2025 | | | | | | | | | | | | | |
| Compensation-related accruals(a) | $377 | | $115 | | $53 | | $51 | | $64 | | $19 | $13 | $9 |
| Taxes accrued | 222 | | 148 | | 31 | | 81 | | 138 | | 116 | 21 | 12 |
| Interest accrued | 440 | | 89 | | 56 | | 77 | | 83 | | 37 | 27 | 17 |
| Balance at December 31, 2024 | | | | | | | | | | | | | |
| Compensation-related accruals(a) | $679 | | $197 | | $87 | | $88 | | $132 | | $38 | $26 | $18 |
First 8 of 10 rows. The CSV has all of them.
Table 102 after “The following table presents the service company costs allocated to the Registrants:”
Download CSV
| Operating and maintenance from affiliates | Capitalized costs | | | | | | |
| Three Months Ended March 31, | | | Three Months Ended March 31, | | | | |
| 2025 | 2024 | | | 2025 | 2024 | | |
| Exelon | | | | | | | | |
| BSC | | | | | $160 | | $158 | |
| PHISCO | | | | | 25 | | 29 | |
| ComEd | | | | | | | | |
| BSC | $100 | | $100 | | | 62 | | 71 |
First 8 of 24 rows. The CSV has all of them.
| | | Receivables from affiliates: | | | | | | | | | | | | | | | | | | | | | |
| Payables to affiliates: | | ComEd | | PECO | BGE | | Pepco | | DPL | ACE | | BSC | | PHISCO | Other | | Total | | | | | | |
| ComEd | | | | $— | | $— | | | $— | | $— | | | $— | | $58 | | | $— | | $2 | | $60 | |
| PECO | | $1 | | | | — | | | — | | — | | | — | | 30 | | | — | | 6 | | 37 | |
| BGE | | 1 | | | — | | | | — | | — | | | — | | 36 | | | — | | 1 | | 38 | |
| PHI | | 1 | | | — | | — | | | — | | — | | | — | | 7 | | | — | | 11 | | 19 |
| Pepco | | — | | | — | | — | | | | — | | | — | | 17 | | | 16 | | 1 | | 34 | |
| DPL | | 1 | | | — | | — | | | — | | | | — | | 11 | | | 12 | | (1) | | 23 | |
First 8 of 11 rows. The CSV has all of them.
| | | Receivables from affiliates: | | | | | | | | | | | | | | | | | | | | | |
| Payables to affiliates: | | ComEd | | PECO | BGE | | Pepco | | DPL | ACE | | BSC | | PHISCO | Other | | Total | | | | | | |
| ComEd | | | | $— | | $— | | | $— | | $— | | | $— | | $67 | | | $— | | $10 | | $77 | |
| PECO | | $— | | | | — | | | — | | — | | | — | | 37 | | | — | | 4 | | 41 | |
| BGE | | — | | | — | | | | — | | — | | | — | | 47 | | | — | | 1 | | 48 | |
| PHI | | — | | | — | | — | | | — | | — | | | — | | 7 | | | 1 | | 10 | | 18 |
| Pepco | | — | | | — | | — | | | | — | | | — | | 21 | | | 15 | | 1 | | 37 | |
| DPL | | — | | | — | | — | | | — | | | | — | | 14 | | | 11 | | 1 | | 26 | |
First 8 of 11 rows. The CSV has all of them.
Table 105 after “The following table presents Long-term debt to financing trusts:”
Download CSV
| March 31, 2025 | December 31, 2024 | | | | | | | | |
| Exelon | ComEd | | PECO | Exelon | ComEd | | PECO | | |
| ComEd Financing III | $206 | | $206 | | $— | | $206 | | $206 | $— |
| PECO Trust III | 81 | | — | | 81 | | 81 | | — | 81 |
| PECO Trust IV | 103 | | — | | 103 | | 103 | | — | 103 |
| Total | $390 | | $206 | | $184 | | $390 | | $206 | $184 |
Table 106 after “The following table sets forth Exelon's GAAP consolidated Net income attributable to common shareholders by Registrant for the three months ”
Download CSV
| Three Months Ended March 31, | | Favorable (Unfavorable) Variance | | | |
| | 2025 | | 2024 | | |
| Exelon | | | $908 | | $658 | $250 |
| ComEd | | | 302 | | 193 | 109 |
| PECO | | | 266 | | 149 | 117 |
| BGE | | | 260 | | 264 | (4) |
| PHI | | | 194 | | 168 | 26 |
| Pepco | | | 97 | | 75 | 22 |
First 8 of 11 rows. The CSV has all of them.
Table 107 after “The following table provides a reconciliation between GAAP Net income attributable to common shareholders and Adjusted (non-GAAP) operating ”
Download CSV
| Three Months Ended March 31, | | | | |
| 2025 | 2024 | | | |
| (In millions, except per share data) | | Earnings per Diluted Share | | Earnings per Diluted Share | |
| Net income attributable to common shareholders | $908 | | $0.90 | $658 | $0.66 |
| Regulatory matters (net of taxes of $7)(a) | 22 | | 0.02 | — | — |
| Change in FERC audit liability (net of taxes of $1 and $9, respectively) | 2 | | — | 27 | 0.03 |
| Cost management charge (net of taxes of $0)(b) | (1) | | — | — | — |
| Adjusted (non-GAAP) operating earnings | $932 | | $0.92 | $685 | $0.68 |
Table 108 after “Completed Distribution Base Rate Case Proceedings”
Download CSV
| Registrant/Jurisdiction | | Filing Date | | Service | | Requested Revenue Requirement Increase | | Approved Revenue Requirement Increase | | Approved ROE | | Approval Date | | Rate Effective Date | | | |
| ComEd - Illinois | | January 17, 2023 | | Electric | | $1,487 | | | $1,045 | | | 8.905% | | December 19, 2024 | | January 1, 2024 | |
| April 26, 2024 (amended on September 11, 2024) | | Electric | | $624 | | | $623 | | | 9.89% | | October 31, 2024 | | January 1, 2025 | | |
| PECO - Pennsylvania | | March 28, 2024 | | Electric | | $464 | | | $354 | | | N/A(e) | | December 12, 2024 | | January 1, 2025 | |
| | Natural Gas | | $111 | | | $78 | | | | | | | | | | |
| BGE - Maryland | | February 17, 2023 | | Electric | | $313 | | | $179 | | | 9.50% | | | December 14, 2023 | | January 1, 2024 |
| | Natural Gas | | $289 | | | $229 | | | 9.45% | | | | | | | |
| Pepco - District of Columbia | | April 13, 2023 (amended February 27, 2024) | | Electric | | $186 | | | $123 | | | 9.50% | | November 26, 2024 | | January 1, 2025 | |
First 8 of 12 rows. The CSV has all of them.
Table 109 after “Pending Distribution Base Rate Case Proceedings”
Download CSV
| Registrant/Jurisdiction | Filing Date | Service | Requested Revenue Requirement Increase | Requested ROE | | Expected Approval Timing | | |
| DPL - Delaware | September 20, 2024 (amended February 28, 2025) | Natural Gas | $42 | | 10.65% | | | First quarter of 2026 |
| ACE - New Jersey | November 21, 2024 | Electric | 109 | | 10.70% | | Fourth quarter of 2025 | |
Table 110 after “For 2025, the following total increase was included in the Utility Registrant's electric transmission formula rate update. See Note 2 — Regu”
Download CSV
| Registrant | Initial Revenue Requirement Increase | Annual Reconciliation Increase | | Total Revenue Requirement Increase | Allowed Return on Rate Base | Allowed ROE | | |
| BGE | $21 | | $21 | | $35 | | 7.53% | 10.50% |
Table 111 after “Results of Operations — ComEd”
Download CSV
| Three Months Ended March 31, | | (Unfavorable) Favorable Variance | | | |
| | 2025 | | 2024 | | |
| Operating revenues | | | $2,065 | | $2,095 | $(30) |
| Operating expenses | | | | | | |
| Purchased power | | | 689 | | 907 | 218 |
| Operating and maintenance | | | 423 | | 418 | (5) |
| Depreciation and amortization | | | 380 | | 362 | (18) |
| Taxes other than income taxes | | | 99 | | 94 | (5) |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 |
| Increase (Decrease) |
| Distribution | $129 |
| Transmission | 22 |
| Energy efficiency | 10 |
| Other | 9 |
| 170 |
| Regulatory required programs | (200) |
First 8 of 9 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 |
| (Decrease) Increase |
| Labor, other benefits, contracting, and materials | $(27) |
| Storm-related costs | (6) |
| Pension and non-pension postretirement benefits expense | 2 |
| Other | 40 |
| 9 |
| Regulatory required programs | (4) |
First 8 of 9 rows. The CSV has all of them.
| Three Months Ended March 31, | | Favorable (Unfavorable) Variance | | | |
| | 2025 | | 2024 | | |
| Operating revenues | | | $1,333 | | $1,054 | $279 |
| Operating expenses | | | | | | |
| Purchased power and fuel | | | 502 | | 403 | (99) |
| Operating and maintenance | | | 327 | | 293 | (34) |
| Depreciation and amortization | | | 109 | | 104 | (5) |
| Taxes other than income taxes | | | 60 | | 51 | (9) |
First 8 of 18 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 | | | | | |
| Increase (Decrease) | | | | | |
| | Electric | Gas | | Total | |
| Weather | | $23 | | $21 | | $44 |
| Volume | | 9 | | 2 | | 11 |
| Pricing | | 73 | | 38 | | 111 |
| Transmission | | (6) | | — | | (6) |
| Other | | 5 | | 3 | | 8 |
First 8 of 11 rows. The CSV has all of them.
Table 116 after “PECO’s service territory for the three months ended March 31, 2025 compared to the same period in 2024 and normal weather consisted of the f”
Download CSV
| Three Months Ended March 31, | | | % Change | | | | | |
| PECO Service Territory | 2025 | 2024 | Normal | 2025 vs. 2024 | | 2025 vs. Normal | | | |
| Heating Degree-Days | 2,351 | | 2,089 | | 2,388 | | 12.5% | | (1.5)% |
| Cooling Degree-Days | 1 | | — | | 1 | | N/A | —% | |
Table 117 after “Electric volume, exclusive of the effects of weather, for the three months ended March 31, 2025 compared to the same period in 2024, remaine”
Download CSV
| Electric Retail Deliveries to Customers (in GWhs) | | Three Months Ended March 31, | % Change | Weather -Normal% Change(b) | | |
| 2025 | 2024 | | | | |
| Residential | | | 3,859 | 3,455 | 11.7% | 3.3% |
| Small commercial & industrial | | | 1,946 | 1,891 | 2.9% | (1.0)% |
| Large commercial & industrial | | | 3,425 | 3,355 | 2.1% | (0.4)% |
| Public authorities & electric railroads | | | 189 | 179 | 5.6% | 5.6% |
| Total electric retail deliveries(a) | | | 9,419 | 8,880 | 6.1% | 1.1% |
Table 118 after “Electric volume, exclusive of the effects of weather, for the three months ended March 31, 2025 compared to the same period in 2024, remaine”
Download CSV
| At March 31, | |
| Number of Electric Customers | 2025 | 2024 |
| Residential | 1,540,453 | 1,540,491 |
| Small commercial & industrial | 155,131 | 156,475 |
| Large commercial & industrial | 3,151 | 3,160 |
| Public authorities & electric railroads | 10,703 | 10,713 |
| Total | 1,709,438 | 1,710,839 |
Table 119 after “Reflects the change in delivery volumes assuming normalized weather based on the historical 30-year average.”
Download CSV
| Natural Gas Deliveries to Customers (in mmcf) | | Three Months Ended March 31, | % Change | Weather -Normal% Change(b) | | |
| 2025 | 2024 | | | | |
| Residential | | | 21,834 | 18,895 | 15.6% | (0.3)% |
| Small commercial & industrial | | | 10,405 | 9,488 | 9.7% | (2.2)% |
| Large commercial & industrial | | | 12 | 16 | (25.0)% | —% |
| Transportation | | | 7,242 | 6,899 | 5.0% | 1.0% |
| Total natural gas retail deliveries(a) | | | 39,493 | 35,298 | 11.9% | (0.6)% |
Table 120 after “Reflects the change in delivery volumes assuming normalized weather based on the historical 30-year average.”
Download CSV
| At March 31, | |
| Number of Natural Gas Customers | 2025 | 2024 |
| Residential | 509,773 | 508,429 |
| Small commercial & industrial | 44,869 | 45,038 |
| Large commercial & industrial | 7 | 7 |
| Transportation | 623 | 646 |
| Total | 555,272 | 554,120 |
| Three Months Ended March 31, 2025 |
| Increase (Decrease) |
| Credit loss expense | $17 |
| Labor, other benefits, contracting and materials | 9 |
| BSC costs | 1 |
| Pension and non-pension postretirement benefit expense | 1 |
| Storm-related costs | (4) |
| Other | (1) |
First 8 of 11 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 |
| Increase (Decrease) |
| Depreciation and amortization(a) | $7 |
| Regulatory asset amortization | (2) |
| Total increase | $5 |
| Three Months Ended March 31, | | Favorable (Unfavorable) Variance | | | |
| | 2025 | | 2024 | | |
| Operating revenues | | | $1,554 | | $1,297 | $257 |
| Operating expenses | | | | | | |
| Purchased power and fuel | | | 609 | | 464 | (145) |
| Operating and maintenance | | | 305 | | 264 | (41) |
| Depreciation and amortization | | | 164 | | 150 | (14) |
| Taxes other than income taxes | | | 96 | | 89 | (7) |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 | | | | | |
| Increase (Decrease) | | | | | |
| | Electric | Gas | | Total | |
| Distribution | | $33 | | $44 | | $77 |
| Transmission | | 7 | | — | | 7 |
| Other | | 2 | | (1) | | 1 |
| | 42 | | 43 | | 85 |
| Regulatory required programs | | 88 | | 84 | | 172 |
First 8 of 9 rows. The CSV has all of them.
Table 125 after “The demand for electricity and natural gas is affected by weather and customer usage. However, Operating revenues are not impacted by abnorm”
Download CSV
| At March 31, | | |
| Number of Electric Customers | 2025 | 2024 | |
| Residential | 1,220,769 | | 1,213,063 |
| Small commercial & industrial | 115,359 | | 115,406 |
| Large commercial & industrial | 13,302 | | 13,110 |
| Public authorities & electric railroads | 258 | | 261 |
| Total | 1,349,688 | | 1,341,840 |
| At March 31, | | |
| Number of Natural Gas Customers | 2025 | 2024 | |
| Residential | 661,195 | | 658,818 |
| Small commercial & industrial | 37,945 | | 37,982 |
| Large commercial & industrial | 6,380 | | 6,336 |
| Total | 705,520 | | 703,136 |
| Three Months Ended March 31, 2025 |
| Increase (Decrease) |
| Labor, other benefits, contracting, and materials | 12 |
| BSC costs | 3 |
| Credit loss expense | 2 |
| Pension and non-pension postretirement benefits expense | 1 |
| Storm-related costs | (5) |
| Other | 5 |
First 8 of 11 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 |
| Increase |
| Depreciation and amortization | $2 |
| Regulatory required programs(a) | 6 |
| Regulatory asset amortization | 6 |
| Total increase | $14 |
Table 129 after “PHI’s Results of Operations include the results of its three reportable segments, Pepco, DPL, and ACE. PHI also has a business services subs”
Download CSV
| Three Months Ended March 31, | Favorable (Unfavorable) Variance | | |
| 2025 | 2024 | | |
| PHI | $194 | | $168 | $26 |
| Pepco | 97 | | 75 | 22 |
| DPL | 69 | | 66 | 3 |
| ACE | 31 | | 29 | 2 |
| Other(a) | (3) | | (2) | (1) |
Table 130 after “Results of Operations — Pepco”
Download CSV
| Three Months Ended March 31, | | Favorable (Unfavorable) Variance | | |
| 2025 | | 2024 | | | |
| Operating revenues | $859 | | | $759 | $100 |
| Operating expenses | | | | | |
| Purchased power | 318 | | | 281 | (37) |
| Operating and maintenance | 159 | | | 150 | (9) |
| Depreciation and amortization | 105 | | | 107 | 2 |
| Taxes other than income taxes | 113 | | | 102 | (11) |
First 8 of 18 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 |
| Increase (Decrease) |
| Distribution | $45 |
| Transmission | 6 |
| Other | (3) |
| 48 |
| Regulatory required programs | 52 |
| Total increase | $100 |
Table 132 after “The demand for electricity is affected by weather and customer usage. However, Operating revenues from electric distribution in both Marylan”
Download CSV
| At March 31, | | |
| Number of Electric Customers in Maryland | 2025 | 2024 | |
| Residential | 557,672 | | 552,215 |
| Small commercial & industrial | 30,555 | | 30,760 |
| Large commercial & industrial | 18,986 | | 18,944 |
| Public authorities & electric railroads | 177 | | 179 |
| Total | 607,390 | | 602,098 |
| Three Months Ended March 31, 2025 |
| (Decrease) Increase |
| Labor, other benefits, contracting and materials | $(6) |
| Credit loss expense | (5) |
| BSC and PHISCO costs | (2) |
| Other | 5 |
| (8) |
| Regulatory required programs(a) | 17 |
First 8 of 9 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 |
| Increase (Decrease) |
| Depreciation and amortization(a) | $7 |
| Regulatory asset amortization | 1 |
| Regulatory required programs(b) | (10) |
| Total decrease | $(2) |
| Three Months Ended March 31, | | Favorable (Unfavorable) Variance | | |
| 2025 | | 2024 | | | |
| Operating revenues | $548 | | | $491 | $57 |
| Operating expenses | | | | | |
| Purchased power and fuel | 247 | | | 215 | (32) |
| Operating and maintenance | 106 | | | 95 | (11) |
| Depreciation and amortization | 63 | | | 61 | (2) |
| Taxes other than income taxes | 21 | | | 20 | (1) |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 | | | | |
| Increase | | | | |
| Electric | Gas | | Total | |
| Weather | $4 | | $2 | | $6 |
| Volume | — | | 3 | | 3 |
| Distribution | 5 | | 1 | | 6 |
| Transmission | 3 | | — | | 3 |
| 12 | | 6 | | 18 |
First 8 of 10 rows. The CSV has all of them.
Table 137 after “Heating and cooling degree days are quantitative indices that reflect the demand for energy needed to heat or cool a home or business. Norma”
Download CSV
| Three Months Ended March 31, | | | % Change | | | | |
| Delaware Electric Service Territory | 2025 | 2024 | | Normal | 2025 vs. 2024 | 2025 vs. Normal | | |
| Heating Degree-Days | 2,399 | | 2,204 | | 2,420 | | 8.8% | (0.9)% |
| Cooling Degree-Days | 9 | | — | | 1 | | —% | 800.0% |
Table 138 after “Heating and cooling degree days are quantitative indices that reflect the demand for energy needed to heat or cool a home or business. Norma”
Download CSV
| Three Months Ended March 31, | | | % Change | | | | |
| Delaware Natural Gas Service Territory | 2025 | 2024 | | Normal | 2025 vs. 2024 | 2025 vs. Normal | | |
| Heating Degree-Days | 2,399 | | 2,204 | | 2,454 | | 8.8% | (2.2)% |
Table 139 after “exclusive of the effects of weather, increased for the three months ended March 31, 2025 compared to the same period in 2024, primarily due ”
Download CSV
| Electric Retail Deliveries to Delaware Customers (in GWhs) | Three Months Ended March 31, | | % Change | | Weather - Normal% Change(b) | | |
| 2025 | | 2024 | | | | | |
| Residential | 930 | | | 857 | | 8.5% | 1.9% |
| Small commercial & industrial | 354 | | | 339 | | 4.4% | 2.0% |
| Large commercial & industrial | 690 | | | 718 | | (3.9)% | (4.7)% |
| Public authorities & electric railroads | 7 | | | 7 | | —% | 1.9% |
| Total electric retail deliveries(a) | 1,981 | | | 1,921 | | 3.1% | (0.5)% |
Table 140 after “exclusive of the effects of weather, increased for the three months ended March 31, 2025 compared to the same period in 2024, primarily due ”
Download CSV
| At March 31, | | |
| Number of Total Electric Customers (Maryland and Delaware) | 2025 | 2024 | |
| Residential | 491,907 | | 486,950 |
| Small commercial & industrial | 64,999 | | 64,338 |
| Large commercial & industrial | 1,251 | | 1,260 |
| Public authorities & electric railroads | 617 | | 593 |
| Total | 558,774 | | 553,141 |
Table 141 after “Reflects the change in delivery volumes assuming normalized weather based on the historical 20-year average.”
Download CSV
| Natural Gas Retail Deliveries to Delaware Customers (in mmcf) | Three Months Ended March 31, | | % Change | | Weather - Normal% Change(b) | | |
| 2025 | | 2024 | | | | | |
| Residential | 4,590 | | | 3,913 | | 17.3% | 8.7% |
| Small commercial & industrial | 1,970 | | | 1,717 | | 14.7% | 5.1% |
| Large commercial & industrial | 428 | | | 428 | | —% | —% |
| Transportation | 2,106 | | | 1,960 | | 7.4% | 2.9% |
| Total natural gas deliveries(a) | 9,094 | | | 8,018 | | 13.4% | 6.1% |
| At March 31, | | |
| Number of Delaware Natural Gas Customers | 2025 | 2024 | |
| Residential | 131,716 | | 130,427 |
| Small commercial & industrial | 10,254 | | 10,182 |
| Large commercial & industrial | 15 | | 16 |
| Transportation | 161 | | 163 |
| Total | 142,146 | | 140,788 |
| Three Months Ended March 31, 2025 |
| Increase (Decrease) |
| Credit loss expense | $4 |
| BSC and PHISCO costs | 1 |
| Storm-related costs | (3) |
| Labor and contracting | (3) |
| Other | 1 |
| — |
First 8 of 10 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 |
| Increase (Decrease) |
| Depreciation and amortization(a) | $4 |
| Regulatory asset amortization | — |
| Regulatory required programs(b) | (2) |
| Total increase | $2 |
| Three Months Ended March 31, | Favorable (Unfavorable) Variance | | |
| 2025 | 2024 | | |
| Operating revenues | $373 | | $358 | $15 |
| Operating expenses | | | | |
| Purchased power | 157 | | 140 | (17) |
| Operating and maintenance | 90 | | 87 | (3) |
| Depreciation and amortization | 64 | | 74 | 10 |
| Taxes other than income taxes | 2 | | 2 | — |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 |
| Increase (Decrease) |
| Distribution | $2 |
| Transmission | (2) |
| — |
| Regulatory required programs | 15 |
| Total increase | $15 |
| At March 31, | | |
| Number of Electric Customers | 2025 | 2024 | |
| Residential | 508,354 | | 505,793 |
| Small commercial & industrial | 62,861 | | 62,704 |
| Large commercial & industrial | 2,824 | | 2,893 |
| Public authorities & electric railroads | 723 | | 728 |
| Total | 574,762 | | 572,118 |
| Three Months Ended March 31, 2025 |
| Increase (Decrease) |
| Storm-related costs | $1 |
| Credit Loss Expense | 1 |
| BSC and PHISCO costs | (1) |
| Labor and contracting | (2) |
| Other | (3) |
| (4) |
First 8 of 10 rows. The CSV has all of them.
| Three Months Ended March 31, 2025 |
| Increase (Decrease) |
| Depreciation and amortization(a) | $2 |
| Regulatory asset amortization | (3) |
| Regulatory required programs | (9) |
| Total decrease | $(10) |
Table 150 after “The following table provides a summary of the change in cash flows from operating activities for the three months ended March 31, 2025 and 2”
Download CSV
| Increase (decrease) in cash flows from operating activities | Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Net income (loss) | $250 | | $109 | | $117 | | $(4) | | $26 | | $22 | $3 | $2 |
| Adjustments to reconcile net income to cash: | | | | | | | | | | | | | |
| Non-cash operating activities | 408 | | 158 | | 31 | | 129 | | 65 | | 31 | 14 | 14 |
| Collateral received, net | 37 | | (3) | | 12 | | 1 | | 27 | | 11 | 9 | 5 |
| Income taxes | 38 | | 51 | | 13 | | 7 | | 1 | | 3 | 3 | — |
| Pension and non-pension postretirement benefit contributions | (181) | | (184) | | (7) | | (9) | | 30 | | — | — | 4 |
| Regulatory assets and liabilities, net | (166) | | (239) | | 47 | | 14 | | 28 | | 7 | 3 | 19 |
First 8 of 10 rows. The CSV has all of them.
Table 151 after “The following table provides a summary of the change in cash flows from investing activities for the three months ended March 31, 2025 and 2”
Download CSV
| (Decrease) increase in cash flows from investing activities | Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Capital expenditures | $(179) | | $4 | | $(63) | | $(82) | | $(60) | | $(11) | $(22) | $(16) |
| Proceeds from sales of assets | (2) | | — | | — | | — | | — | | — | — | — |
| Changes in intercompany money pool | — | | — | | — | | — | | — | | 134 | (12) | — |
| Other investing activities | 6 | | — | | — | | (5) | | — | | — | — | — |
| (Decrease) increase in cash flows from investing activities | $(175) | | $4 | | $(63) | | $(87) | | $(60) | | $123 | $(34) | $(16) |
Table 152 after “The following table provides a summary of the change in cash flows from financing activities for the three months ended March 31, 2025 and 2”
Download CSV
| Increase (decrease) in cash flows from financing activities | Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Changes in short-term borrowings, net | $(458) | | $183 | | $(27) | | $(8) | | $(136) | | $(68) | $(81) | $13 |
| Long-term debt, net | 701 | | — | | — | | — | | (100) | | (75) | (50) | 25 |
| Changes in intercompany money pool | — | | — | | — | | — | | 3 | | — | — | (122) |
| Issuance of common stock | 173 | | — | | — | | — | | — | | — | — | — |
| Dividends paid on common stock | (22) | | (9) | | (37) | | (6) | | — | | (15) | (1) | 2 |
| Distributions to member | — | | — | | — | | — | | (14) | | — | — | — |
| Contributions from parent/member | — | | 48 | | (17) | | — | | (135) | | (94) | (55) | 13 |
First 8 of 10 rows. The CSV has all of them.
Table 153 after “Quarterly dividends declared by the Exelon Board of Directors during the three months ended March 31, 2025 and for the second quarter of 202”
Download CSV
| Period | Declaration Date | Shareholder of Record Date | Dividend Payable Date | Cash per Share(a) |
| First Quarter 2025 | February 12, 2025 | February 24, 2025 | March 14, 2025 | $0.4000 |
| Second Quarter 2025 | April 29, 2025 | May 12, 2025 | June 13, 2025 | $0.4000 |
Table 154 after “The following table presents the incremental collateral that each Utility Registrant would have been required to provide in the event each U”
Download CSV
| PJM Credit Policy Collateral | Other Incremental Collateral Required(a) | | Available Credit Facility Capacity Prior to Any Incremental Collateral | |
| ComEd | $13 | | $— | | $638 |
| PECO | — | | 45 | | 596 |
| BGE | — | | 51 | | 338 |
| Pepco | — | | — | | 298 |
| DPL | — | | 15 | | 300 |
| ACE | — | | — | | 300 |
| (In millions) | Transmission | Distribution | | Gas | Total(a) | | |
| Exelon | N/A | N/A | | N/A | $8,900 | | |
| ComEd | 950 | | 2,250 | | N/A | 3,200 | |
| PECO | 200 | | 1,300 | | 375 | | 1,875 |
| BGE | 700 | | 625 | | 525 | | 1,850 |
| PHI | 650 | | 1,400 | | 100 | | 2,150 |
| Pepco | 250 | | 700 | | N/A | 950 | |
| DPL | 175 | | 300 | | 75 | | 550 |
First 8 of 9 rows. The CSV has all of them.
Table 156 after “To provide an additional short-term borrowing option that will generally be more favorable to the borrowing participants than the cost of ex”
Download CSV
| During the Three Months Ended March 31, 2025 | At March 31, 2025 | | | |
| Exelon Intercompany Money Pool | Maximum Contributed | Maximum Borrowed | | Contributed (Borrowed) | |
| Exelon Corporate | $578 | | $— | | $295 |
| PECO | — | | (253) | | — |
| BSC | — | | (378) | | (281) |
| PHI Corporate | — | | (85) | | (74) |
| PCI | 60 | | — | | 60 |
Table 157 after “To provide an additional short-term borrowing option that will generally be more favorable to the borrowing participants than the cost of ex”
Download CSV
| During the Three Months Ended March 31, 2025 | At March 31, 2025 | | | |
| PHI Intercompany Money Pool | Maximum Contributed | Maximum Borrowed | | Contributed (Borrowed) | |
| Pepco | $1 | | $— | | $— |
| DPL | 12 | | (1) | | 12 |
| ACE | — | | (12) | | (12) |
Table 158 after “The Utility Registrants are required to obtain short-term and long-term financing authority from Federal and State Commissions as follows:”
Download CSV
| At March 31, 2025 | | | | | | | |
| Short-term Financing Authority | Remaining Long-term Financing Authority | | | | | | |
| Commission | Expiration Date | Amount | Commission | | Expiration Date | Amount | | |
| ComEd | FERC | December 31, 2025 | | $2,500 | | ICC | January 1, 2027 & May 1, 2027 | $2,318 |
| PECO | FERC | December 31, 2025 | | 1,500 | | PAPUC | December 31, 2027 | 2,900 |
| BGE(b) | FERC | December 31, 2025 | | 700 | | MDPSC | N/A | 2,500 |
| Pepco(a) | FERC | December 31, 2025 | | 500 | | MDPSC / DCPSC | December 31, 2025 | 175 |
| DPL(a) | FERC | December 31, 2025 | | 500 | | MDPSC / DEPSC | December 31, 2025 | 250 |
First 8 of 9 rows. The CSV has all of them.
Table 159 after “The following table presents the maturity and source of fair value for Exelon’s and ComEd’s mark-to-market commodity contract net liabilitie”
Download CSV
| Maturities Within | Total Fair Value | | | | | | | | | |
| Commodity derivative contracts(a): | 2025 | 2026 | | 2027 | 2028 | 2029 | | 2030 and Beyond | | | |
| Prices based on model or other valuation methods (Level 3) | $(17) | | $(18) | | $(21) | | $(22) | | $(21) | $(52) | $(151) |
Table 160 after “(4) Instruments Defining the Rights of Securities Holders, Including Indentures”
Download CSV
| Exelon Corporation | | |
| Exhibit No. | Description | Location |
| 4-1 | Third 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 19, 2025, Exhibit 4.2 |
| 4-2 | 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 |
| Exelon Corporation | |
| Exhibit No. | Description |
| 31-1 | Filed by Calvin G. Butler, Jr. for Exelon Corporation |
| 31-2 | Filed by Jeanne M. Jones for Exelon Corporation |
| Commonwealth Edison Company | |
| Exhibit No. | Description |
| 31-3 | Filed by Gil C. Quiniones for Commonwealth Edison Company |
| 31-4 | Filed by Joshua S. Levin for Commonwealth Edison Company |
First 8 of 32 rows. The CSV has all of them.
| Exelon Corporation | |
| Exhibit No. | Description |
| 32-1 | Filed by Calvin G. Butler, Jr. for Exelon Corporation |
| 32-2 | Filed by Jeanne M. Jones for Exelon Corporation |
| Commonwealth Edison Company | |
| Exhibit No. | Description |
| 32-3 | Filed by Gil C. Quiniones for Commonwealth Edison Company |
| 32-4 | Filed by Joshua S. Levin for Commonwealth Edison Company |
First 8 of 39 rows. The CSV has all of them.