← Filings of EXC
Tables in the 10-Q of EXELON CORP
166 tables with numbers, filed May 6, 2026. 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, 2026 was:”
Download CSV
| Exelon Corporation Common Stock, without par value | 1,023,208,142 |
| Commonwealth Edison Company Common Stock, $12.50 par value | 127,021,425 |
| 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 | 97 |
| Exelon Corporation | 97 |
| Executive Overview | 97 |
| Financial Results of Operations | 97 |
| Significant 2026 Transactions and Developments | 98 |
| Other Key Business Drivers and Management Strategies | 100 |
| Critical Accounting Policies and Estimates | 101 |
First 8 of 33 rows. The CSV has all of them.
| GLOSSARY OF TERMS AND ABBREVIATIONS | |
| Other Terms and Abbreviations | |
| Note - of the 2025 Form 10-K | Reference to specific Combined Note to Consolidated Financial Statements within Exelon's 2025 Annual Report on Form 10-K |
| ABO | Accumulated Benefit Obligation |
| AECs | Alternative Energy Credits that are issued for each megawatt hour of generation from a qualified alternative energy source |
| AFUDC | Allowance for Funds Used During Construction |
| AMI | Advanced Metering Infrastructure |
| AOCI | Accumulated Other Comprehensive Income (Loss) |
First 8 of 45 rows. The CSV has all of them.
| Three Months Ended March 31, | | | |
| (In millions, except per share data) | | 2026 | 2025 | |
| Operating revenues | | | | |
| Electric operating revenues | | $6,157 | | $5,816 |
| Natural gas operating revenues | | 1,117 | | 1,024 |
| Revenues from alternative revenue programs | | (32) | | (126) |
| Total operating revenues | | 7,242 | | 6,714 |
| Operating expenses | | | | |
First 8 of 40 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2026 | 2025 | |
| Cash flows from operating activities | | | |
| Net income | $919 | | $908 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation, amortization, and accretion | 953 | | 905 |
| Loss on sales of assets | — | | 1 |
| Deferred income taxes and amortization of investment tax credits | 345 | | 121 |
First 8 of 38 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $713 | | $626 |
| Restricted cash and cash equivalents | 560 | | 525 |
| Accounts receivable | | | |
| Customer accounts receivable | 3,636 | 3,732 | |
| Customer allowance for credit losses | (522) | (435) | |
First 8 of 28 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $665 | | $612 |
| Long-term debt due within one year | 2,326 | | 1,665 |
| Accounts payable | 3,119 | | 3,721 |
| Accrued expenses | 1,203 | | 1,582 |
| Payables to affiliates | 5 | | 5 |
First 8 of 36 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 | | | | | | | | | | | |
| (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, 2025 | 1,024,401 | $22,106 | | | $(123) | | $7,577 | | $(762) | | $28,798 | |
| Net income | — | | — | | | — | | 919 | | — | | 919 |
| Long-term incentive plan activity | 338 | | 10 | | | — | | — | | — | | 10 |
| Employee stock purchase plan activity | 302 | | 13 | | | — | | — | | — | | 13 |
| Common stock dividends($0.42/common share) | — | | — | | | — | | (431) | | — | | (431) |
| Other comprehensive income, net of income taxes | — | | — | | | — | | — | | 6 | | 6 |
First 8 of 9 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, | | | |
| (In millions) | | 2026 | 2025 | |
| Operating revenues | | | | |
| Electric operating revenues | | $1,894 | | $2,142 |
| Revenues from alternative revenue programs | | 8 | | (85) |
| Operating revenues from affiliates | | 11 | | 8 |
| Total operating revenues | | 1,913 | | 2,065 |
| Operating expenses | | | | |
First 8 of 24 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2026 | 2025 | |
| Cash flows from operating activities | | | |
| Net income | $310 | | $302 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation and amortization | 404 | | 380 |
| Deferred income taxes and amortization of investment tax credits | 71 | | (8) |
| Other non-cash operating activities | 21 | | 141 |
First 8 of 33 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $95 | | $159 |
| Restricted cash and cash equivalents | 487 | | 454 |
| Accounts receivable | | | |
| Customer accounts receivable | 865 | 1,058 | |
| Customer allowance for credit losses | (130) | (115) | |
First 8 of 27 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $46 | | $— |
| Long-term debt due within one year | 500 | | 500 |
| Accounts payable | 927 | | 1,033 |
| Accrued expenses | 369 | | 474 |
| Payables to affiliates | 72 | | 81 |
First 8 of 31 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 | | | | | |
| (In millions) | Common Stock | Other Paid-In Capital | | Retained Earnings | Total Shareholders’ Equity | |
| Balance at December 31, 2025 | $1,588 | | $11,019 | | $2,998 | $15,605 |
| Net income | — | | — | | 310 | 310 |
| Common stock dividends | — | | — | | (218) | (218) |
| Contributions from parent | — | | 256 | | — | 256 |
| Balance at March 31, 2026 | $1,588 | | $11,275 | | $3,090 | $15,953 |
| Three Months Ended March 31, 2025 | | | | | |
First 8 of 14 rows. The CSV has all of them.
| Three Months Ended March 31, | | | |
| (In millions) | | 2026 | 2025 | |
| Operating revenues | | | | |
| Electric operating revenues | | $1,073 | | $963 |
| Natural gas operating revenues | | 410 | | 376 |
| Revenues from alternative revenue programs | | 5 | | (9) |
| Operating revenues from affiliates | | 4 | | 3 |
| Total operating revenues | | 1,492 | | 1,333 |
First 8 of 26 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2026 | 2025 | |
| Cash flows from operating activities | | | |
| Net income | $278 | | $266 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation and amortization | 121 | | 109 |
| Deferred income taxes and amortization of investment tax credits | 278 | | (18) |
| Other non-cash operating activities | 34 | | 54 |
First 8 of 34 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $151 | | $116 |
| Accounts receivable | | | |
| Customer accounts receivable | 861 | 811 | |
| Customer allowance for credit losses | (160) | (137) | |
| Customer accounts receivable, net | 701 | | 674 |
First 8 of 28 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| LIABILITIES AND SHAREHOLDER'S EQUITY | | | |
| Current liabilities | | | |
| Accounts payable | $758 | | $811 |
| Accrued expenses | 132 | | 483 |
| Payables to affiliates | 41 | | 35 |
| Customer deposits | 97 | | 93 |
| Renewable energy credit obligations | 81 | | 56 |
First 8 of 27 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 | | | | |
| (In millions) | Common Stock | Retained Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2025 | $5,222 | | $2,438 | | $7,660 |
| Net income | — | | 278 | | 278 |
| Common stock dividends | — | | (137) | | (137) |
| Contributions from parent | 567 | | — | | 567 |
| Balance at March 31, 2026 | $5,789 | | $2,579 | | $8,368 |
| Three Months Ended March 31, 2025 | | | | |
First 8 of 14 rows. The CSV has all of them.
| Three Months Ended March 31, | | | |
| (In millions) | | 2026 | 2025 | |
| Operating revenues | | | | |
| Electric operating revenues | | $1,257 | | $1,021 |
| Natural gas operating revenues | | 590 | | 560 |
| Revenues from alternative revenue programs | | (22) | | (29) |
| Operating revenues from affiliates | | 3 | | 2 |
| Total operating revenues | | 1,828 | | 1,554 |
First 8 of 25 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2026 | 2025 | |
| Cash flows from operating activities | | | |
| Net income | $298 | | $260 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation and amortization | 167 | | 164 |
| Deferred income taxes and amortization of investment tax credits | 191 | | 35 |
| Other non-cash operating activities | 44 | | 55 |
First 8 of 32 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $173 | | $217 |
| Restricted cash and cash equivalents | 7 | | 3 |
| Accounts receivable | | | |
| Customer accounts receivable | 1,012 | 887 | |
| Customer allowance for credit losses | (101) | (68) | |
First 8 of 29 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| LIABILITIES AND SHAREHOLDER'S EQUITY | | | |
| Current liabilities | | | |
| Long-term debt due within one year | $350 | | $350 |
| Accounts payable | 470 | | 640 |
| Accrued expenses | 252 | | 352 |
| Payables to affiliates | 32 | | 39 |
| Customer deposits | 126 | | 125 |
First 8 of 27 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 | | | | |
| (In millions) | Common Stock | Retained Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2025 | $4,014 | | $2,588 | | $6,602 |
| Net income | — | | 298 | | 298 |
| Common stock dividends | — | | (114) | | (114) |
| Balance at March 31, 2026 | $4,014 | | $2,772 | | $6,786 |
| Three Months Ended March 31, 2025 | | | | |
| (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) | | 2026 | 2025 | |
| Operating revenues | | | | |
| Electric operating revenues | | $1,934 | | $1,691 |
| Natural gas operating revenues | | 116 | | 88 |
| Revenues from alternative revenue programs | | (23) | | (3) |
| Operating revenues from affiliates | | 3 | | 2 |
| Total operating revenues | | 2,030 | | 1,778 |
First 8 of 27 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2026 | 2025 | |
| Cash flows from operating activities | | | |
| Net income | $169 | | $194 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation, amortization, and accretion | 246 | | 234 |
| Loss on sales of assets | — | | 1 |
| Deferred income taxes and amortization of investment tax credits | 92 | | 32 |
First 8 of 36 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $49 | | $103 |
| Restricted cash and cash equivalents | 31 | | 38 |
| Accounts receivable | | | |
| Customer accounts receivable | 897 | 975 | |
| Customer allowance for credit losses | (131) | (115) | |
First 8 of 30 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| LIABILITIES AND MEMBER'S EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $119 | | $612 |
| Long-term debt due within one year | 75 | | 64 |
| Accounts payable | 707 | | 816 |
| Accrued expenses | 277 | | 359 |
| Payables to affiliates | 44 | | 71 |
First 8 of 31 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 | | | | |
| (In millions) | Membership Interest | Undistributed (Losses)/Gains | | Total Member's Equity | |
| Balance at December 31, 2025 | $13,130 | | $(151) | | $12,979 |
| Net income | — | | 169 | | 169 |
| Distributions to member | — | | (139) | | (139) |
| Contributions from member | 275 | | — | | 275 |
| Balance at March 31, 2026 | $13,405 | | $(121) | | $13,284 |
| 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, | | | |
| (In millions) | | 2026 | 2025 | |
| Operating revenues | | | | |
| Electric operating revenues | | $986 | | $855 |
| Revenues from alternative revenue programs | | 1 | | 2 |
| Operating revenues from affiliates | | 2 | | 2 |
| Total operating revenues | | 989 | | 859 |
| Operating expenses | | | | |
First 8 of 24 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2026 | 2025 | |
| Cash flows from operating activities | | | |
| Net income | $68 | | $97 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation, amortization, and accretion | 114 | | 105 |
| Loss on sales of assets | — | | 1 |
| Deferred income taxes and amortization of investment tax credits | 44 | | 10 |
First 8 of 35 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $20 | | $22 |
| Restricted cash and cash equivalents | 20 | | 33 |
| Accounts receivable | | | |
| Customer accounts receivable | 454 | 484 | |
| Customer allowance for credit losses | (76) | (69) | |
First 8 of 26 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| LIABILITIES AND SHAREHOLDER'S EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $73 | | $303 |
| Long-term debt due within one year | 7 | | 6 |
| Accounts payable | 352 | | 418 |
| Accrued expenses | 149 | | 173 |
| Payables to affiliates | 32 | | 37 |
First 8 of 27 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 | | | | |
| (In millions) | Common Stock | Retained Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2025 | $3,528 | | $1,174 | | $4,702 |
| Net income | — | | 68 | | 68 |
| Common stock dividends | — | | (64) | | (64) |
| Contributions from parent | 139 | | — | | 139 |
| Balance at March 31, 2026 | $3,667 | | $1,178 | | $4,845 |
| 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, | | | |
| (In millions) | | 2026 | 2025 | |
| Operating revenues | | | | |
| Electric operating revenues | | $510 | | $463 |
| Natural gas operating revenues | | 116 | | 88 |
| Revenues from alternative revenue programs | | (6) | | (5) |
| Operating revenues from affiliates | | 2 | | 2 |
| Total operating revenues | | 622 | | 548 |
First 8 of 25 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2026 | 2025 | |
| Cash flows from operating activities | | | |
| Net income | $77 | | $69 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation and amortization | 66 | | 63 |
| Deferred income taxes and amortization of investment tax credits | 26 | | 9 |
| Other non-cash operating activities | 19 | | 21 |
First 8 of 35 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $12 | | $9 |
| Restricted cash and cash equivalents | 10 | | 3 |
| Accounts receivable | | | |
| Customer accounts receivable | 228 | 253 | |
| Customer allowance for credit losses | (24) | (19) | |
First 8 of 27 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| LIABILITIES AND SHAREHOLDER'S EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $46 | | $161 |
| Long-term debt due within one year | 63 | | 53 |
| Accounts payable | 163 | | 218 |
| Accrued expenses | 66 | | 70 |
| Payables to affiliates | 25 | | 25 |
First 8 of 27 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 | | | | |
| (In millions) | Common Stock | Retained Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2025 | $1,722 | | $649 | | $2,371 |
| Net income | — | | 77 | | 77 |
| Common stock dividends | — | | (50) | | (50) |
| Contributions from parent | 45 | | — | | 45 |
| Balance at March 31, 2026 | $1,767 | | $676 | | $2,443 |
| 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, | | | |
| (In millions) | | 2026 | 2025 | |
| Operating revenues | | | | |
| Electric operating revenues | | $438 | | $372 |
| Revenues from alternative revenue programs | | (18) | | — |
| Operating revenues from affiliates | | 1 | | 1 |
| Total operating revenues | | 421 | | 373 |
| Operating expenses | | | | |
First 8 of 23 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| (In millions) | 2026 | 2025 | |
| Cash flows from operating activities | | | |
| Net income | $27 | | $31 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | | | |
| Depreciation and amortization | 65 | | 64 |
| Deferred income taxes and amortization of investment tax credits | 30 | | 8 |
| Other non-cash operating activities | 34 | | 25 |
First 8 of 35 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $12 | | $22 |
| Restricted cash and cash equivalents | 1 | | 2 |
| Accounts receivable | | | |
| Customer accounts receivable | 216 | 239 | |
| Customer allowance for credit losses | (31) | (27) | |
First 8 of 23 rows. The CSV has all of them.
| (In millions) | March 31, 2026 | December 31, 2025 | |
| LIABILITIES AND SHAREHOLDER'S EQUITY | | | |
| Current liabilities | | | |
| Short-term borrowings | $— | | $148 |
| Long-term debt due within one year | 5 | | 5 |
| Accounts payable | 180 | | 168 |
| Accrued expenses | 43 | | 64 |
| Payables to affiliates | 20 | | 24 |
First 8 of 25 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 | | | | |
| (In millions) | Common Stock | Retained (Deficit) Earnings | | Total Shareholder's Equity | |
| Balance at December 31, 2025 | $2,013 | | $15 | | $2,028 |
| Net income | — | | 27 | | 27 |
| Common stock dividends | — | | (25) | | (25) |
| Contributions from parent | 91 | | — | | 91 |
| Balance at March 31, 2026 | $2,104 | | $17 | | $2,121 |
| 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 |
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 | | 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 | | 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 13 rows. The CSV has all of them.
Table 53 after “Pending Distribution Base Rate Case Proceedings”
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| Registrant/Jurisdiction | Filing Date | Service | Requested Revenue Requirement Increase | Requested ROE | | Expected Approval Timing | |
| Pepco - Maryland(a) | October 14, 2025 (amended April 16, 2026) | Electric | $120 | | 10.50% | | Third quarter of 2026 |
| DPL - Delaware(b) | December 9, 2025 | Electric | $45 | | 10.50% | | Third quarter of 2027 |
Table 54 after “related amounts at March 31, 2026 and December 31, 2025.”
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| Exelon | ComEd(a) | | BGE(b) | PHI | Pepco(c) | | DPL(d) | ACE(e) | | |
| March 31, 2026 | $79 | | $10 | | $39 | | $30 | | $14 | $— | $16 |
| December 31, 2025 | 98 | | 12 | | 47 | | 39 | | 22 | 1 | 16 |
Table 55 after “Note 3 — Revenue from Contracts with Customers”
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| Exelon(a) | PHI(a) | | Pepco(a) | DPL | ACE | | |
| Balance at December 31, 2025 | $119 | | $119 | | $95 | | $12 | $12 |
| Revenues recognized | (1) | | (1) | | (1) | | — | — |
| Balance at March 31, 2026 | $118 | | $118 | | $94 | | $12 | $12 |
| 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 |
Table 56 after “This disclosure excludes the Utility Registrants' gas and electric tariff sales contracts and transmission revenue contracts as they general”
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| Year | Exelon | PHI | | Pepco | DPL | ACE | | |
| 2026 | $4 | | $4 | | $4 | | $— | $— |
| 2027 | 6 | | 6 | | 5 | | 1 | — |
| 2028 | 6 | | 6 | | 5 | | — | 1 |
| 2029 | 7 | | 7 | | 6 | | 1 | — |
| 2030 and thereafter | 95 | | 95 | | 74 | | 10 | 11 |
| Total | $118 | | $118 | | $94 | | $12 | $12 |
Table 57 after “An analysis and reconciliation of the Registrants’ reportable segment information to the respective information in the consolidated financia”
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| ComEd | PECO | | BGE | PHI | Other(a) | | Intersegment Eliminations | Exelon | | |
| Operating revenues(b): | | | | | | | | | | | |
| 2026 | | | | | | | | | | | |
| Electric revenues | $1,913 | | $1,082 | | $1,245 | | $1,911 | | $— | $(17) | $6,134 |
| Natural gas revenues | — | | 410 | | 583 | | 116 | | — | (1) | 1,108 |
| Shared service and other revenues | — | | — | | — | | 3 | | 489 | (492) | — |
| Total operating revenues | $1,913 | | $1,492 | | $1,828 | | $2,030 | | $489 | $(510) | $7,242 |
| 2025 | | | | | | | | | | | |
First 8 of 28 rows. The CSV has all of them.
| Taxes other than income taxes | | | | | | | |
| 2026 | $105 | $69 | $104 | $151 | $14 | $— | $443 |
| 2025 | 99 | 60 | 96 | 140 | 10 | — | 405 |
| Loss on sale of assets | | | | | | | |
| 2026 | $— | $— | $— | $— | $— | $— | $— |
| 2025 | — | — | — | 1 | — | — | 1 |
| Interest expense, net(c) | | | | | | | |
| 2026 | $132 | $69 | $62 | $105 | $180 | $— | $548 |
First 8 of 31 rows. The CSV has all of them.
| Pepco | DPL | | ACE | Other(a) | Intersegment Eliminations | | PHI | | |
| Operating revenues(b): | | | | | | | | | | |
| 2026 | | | | | | | | | | |
| Electric revenues | $989 | | $506 | | $421 | | $— | | $(5) | $1,911 |
| Natural gas revenues | — | | 116 | | — | | — | | — | 116 |
| Shared service and other revenues | — | | — | | — | | 110 | | (107) | 3 |
| Total operating revenues | $989 | $622 | $421 | $110 | $(112) | $2,030 |
| 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 |
| Less: | | | | | | |
| Purchased power | | | | | | |
First 8 of 48 rows. The CSV has all of them.
| 2026 | $285 | $147 | $122 | $4 | $— | $558 |
| 2025 | 240 | 156 | 105 | 12 | — | 513 |
| Total assets | | | | | | |
| March 31, 2026 | $12,632 | $6,798 | $5,685 | $4,618 | $(76) | $29,657 |
| December 31, 2025 | 12,728 | 6,789 | 5,632 | 4,602 | (36) | 29,715 |
Table 62 after “The following tables disaggregate the Registrants' revenues recognized from contracts with customers into categories that depict how the nat”
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| Three Months Ended March 31, 2026 | | | | | | | | | | |
| Revenues from contracts with customers | ComEd | PECO | | BGE | PHI | Pepco | | DPL | ACE | | |
| Electric revenues | | | | | | | | | | | |
| Residential | $1,024 | | $725 | | $818 | | $1,096 | | $507 | $331 | $258 |
| Small commercial & industrial | 484 | | 172 | | 130 | | 191 | | 54 | 69 | 68 |
| Large commercial & industrial | 120 | | 87 | | 180 | | 395 | | 321 | 30 | 44 |
| Public authorities & electric railroads | 12 | | 8 | | 8 | | 19 | | 10 | 4 | 5 |
| Other(a) | 249 | | 77 | | 117 | | 232 | | 93 | 77 | 64 |
First 8 of 23 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.
Table 64 after “The following tables present the rollforward of Allowance for Credit Losses on Customer Accounts Receivable.”
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| Three Months Ended March 31, 2026 | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE(b) | PHI | | Pepco | DPL(c) | ACE | | | |
| Balance at December 31, 2025 | $435 | | $115 | | $137 | | $68 | | $115 | | $69 | $19 | $27 |
| Plus: Current period provision for expected credit losses | 148 | | 32 | | 39 | | 43 | | 34 | | 17 | 8 | 9 |
| Less: Write-offs, net of recoveries(a) | 61 | | 17 | | 16 | | 10 | | 18 | | 10 | 3 | 5 |
| Balance at March 31, 2026 | $522 | | $130 | | $160 | | $101 | | $131 | | $76 | $24 | $31 |
| Three Months Ended March 31, 2025 | | | | | | | | | | | | |
| 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.”
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| Three Months Ended March 31, 2026 | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE(b) | | | |
| Balance at December 31, 2025 | $94 | | $23 | | $18 | | $4 | | $49 | | $26 | $10 | $13 |
| Plus: Current period provision for expected credit losses | 17 | | 8 | | 6 | | 1 | | 2 | | 1 | 1 | — |
| Less: Write-offs, net of recoveries(a) | 9 | | 4 | | 2 | | 1 | | 2 | | 1 | — | 1 |
| Balance at March 31, 2026 | $102 | | $27 | | $22 | | $4 | | $49 | | $26 | $11 | $12 |
| Three Months Ended March 31, 2025 | | | | | | | | | | | | |
| 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”
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| Unbilled customer revenues(a) | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| March 31, 2026 | $873 | | $246 | | $206 | | $211 | | $210 | | $107 | $59 | $44 |
| December 31, 2025 | 1,231 | | 301 | | 278 | | 325 | | 327 | | 155 | 100 | 72 |
Table 67 after “For the three months ended March 31, 2026 and 2025, the Utility Registrants were required, under separate legislation and regulations in Ill”
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| Total receivables purchased | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Three months ended March 31, 2026 | $1,310 | | $304 | | $411 | | $188 | | $407 | | $262 | $76 | $69 |
| Three months ended March 31, 2025 | 1,138 | | 253 | | 334 | | 225 | | 326 | | 201 | 68 | 57 |
Table 68 after “The effective income tax rate from continuing operations varies from the U.S. federal statutory rate principally due to the following:”
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| Three Months Ended March 31, 2026(a)(b) | | | | | | | | | |
| Exelon | ComEd | | PECO(c) | BGE | | | | | |
| U.S. Federal statutory rate | $235 | | 21.0% | | $86 | 21.0% | $62 | 21.0% | $79 | 21.0% |
| Increase (decrease) due to: | | | | | | | | | | |
| State income taxes, net of Federal income tax benefit | 64 | | 5.7 | | 30 | 7.3 | (3) | (1.0) | 23 | 6.1 |
| Tax credits | (3) | | (0.3) | | (1) | (0.2) | — | — | (1) | (0.3) |
| Change in Unrecognized Tax Benefits | (17) | | (1.5) | | (2) | (0.5) | — | — | (1) | (0.3) |
| Nontaxable or nondeductible items | 10 | | 0.9 | | 1 | 0.1 | — | — | — | — |
First 8 of 13 rows. The CSV has all of them.
| Three Months Ended March 31, 2026(a)(b) | | | | | | | | | |
| PHI | PEPCO | | DPL | ACE | | | | | |
| U.S. Federal statutory rate | $45 | | 21.0% | | $18 | 21.0% | $21 | 21.0% | $8 | 21.0% |
| Increase (decrease) due to: | | | | | | | | | | |
| State income taxes, net of Federal income tax benefit | 14 | | 6.5 | | 5 | 6.0 | 6 | 6.0 | 3 | 8.3 |
| Tax credits | (1) | | (0.5) | | — | — | — | — | — | — |
| Change in Unrecognized Tax Benefits | — | | — | | — | — | — | — | — | |
| Nontaxable or nondeductible items | — | | — | | — | — | — | — | — | — |
First 8 of 13 rows. The CSV has all of them.
| Three Months Ended March 31, 2025(a)(b) | | | | | | | | | |
| Exelon | ComEd(d) | | PECO(c) | BGE | | | | | |
| U.S. Federal statutory rate | $227 | | 21.0% | | $77 | 21.0% | $59 | 21.0% | $70 | 21.0% |
| Increase (decrease) due to: | | | | | | | | | | |
| State income taxes, net of Federal income tax benefit | 57 | | 5.3 | | 28 | 7.6 | (10) | (3.6) | 21 | 6.3 |
| Tax credits | (5) | | (0.5) | | (2) | (0.5) | — | — | (1) | (0.3) |
| Nontaxable or nondeductible items | 4 | | 0.5 | | 1 | 0.2 | — | — | — | — |
| Other Adjustments | | | | | | | | | | |
First 8 of 12 rows. The CSV has all of them.
| Three Months Ended March 31, 2025(a)(b) | | | | | | | | | |
| PHI | PEPCO | | DPL | ACE | | | | | |
| U.S. Federal statutory rate | $53 | | 21.0% | | $26 | 21.0% | $19 | 21.0% | $9 | 21.0% |
| Increase (decrease) due to: | | | | | | | | | | |
| State income taxes, net of Federal income tax benefit | 16 | | 6.4 | | 8 | 6.6 | 6 | 6.7 | 3 | 7.1 |
| Tax credits | (1) | | (0.4) | | (1) | (0.8) | — | — | — | — |
| Nontaxable or nondeductible items | 1 | | 0.5 | | — | — | — | — | — | — |
| Other Adjustments | | | | | | | | | | |
First 8 of 12 rows. The CSV has all of them.
Table 72 after “Exelon, PHI and DPL have the following unrecognized tax benefits at March 31, 2026 and December 31, 2025. ComEd's, PECO's, BGE's, Pepco's, a”
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| Exelon(a) | PHI | | DPL | |
| March 31, 2026 | $85 | | $50 | | $14 |
| December 31, 2025 | 100 | | 48 | | 12 |
| Pension Benefits | OPEB | | | | |
| Three Months Ended March 31, | Three Months Ended March 31, | | | | |
| 2026 | 2025 | | 2026 | 2025 | |
| Components of net periodic benefit cost | | | | | | |
| Service cost | $40 | | $38 | | $7 | $6 |
| Interest cost | 143 | | 146 | | 25 | 25 |
| Expected return on assets | (176) | | (178) | | (22) | (21) |
| Amortization of: | | | | | | |
First 8 of 11 rows. The CSV has all of them.
Table 74 after “The amounts below represent the Registrants' allocated pension and OPEB costs. For Exelon, the service cost component is included in Operati”
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| Three Months Ended March 31, | | | |
| Pension and OPEB Costs | | 2026 | 2025 | |
| Exelon | | $65 | | $68 |
| ComEd | | 27 | | 21 |
| PECO | | 4 | | 2 |
| BGE | | 7 | | 16 |
| PHI | | 20 | | 25 |
| Pepco | | 7 | | 8 |
First 8 of 10 rows. The CSV has all of them.
Table 75 after “The Registrants participate in a 401(k) defined contribution savings plan that is sponsored by Exelon. The plan is qualified under applicabl”
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| Three Months Ended March 31, | | | |
| Savings Plan Employer Contributions | | 2026 | 2025 | |
| Exelon | | $32 | | $26 |
| ComEd | | 11 | | 10 |
| PECO | | 4 | | 4 |
| BGE | | 3 | | 3 |
| PHI | | 5 | | 5 |
| Pepco | | 1 | | 1 |
First 8 of 10 rows. The CSV has all of them.
| Derivatives Designated as Hedging Instruments | | |
| March 31, 2026 | December 31, 2025 | |
| Other current assets | $— | | $3 |
| Other deferred debits (noncurrent assets) | 2 | | — |
| Total derivative assets | 2 | | 3 |
| Mark-to-market derivative liabilities (current liabilities) | — | | (4) |
| Mark-to-market derivative liabilities (noncurrent liabilities) | (1) | | — |
| Total mark-to-market derivative liabilities | (1) | | (4) |
First 8 of 9 rows. The CSV has all of them.
Table 77 after “The following table provides the notional amounts outstanding held by Exelon at March 31, 2026 and December 31, 2025.”
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| March 31, 2026 | December 31, 2025 | |
| 5-year maturity floating-to-fixed swaps | $60 | | $335 |
| 10-year maturity floating-to-fixed swaps | 120 | | 365 |
| Total | $180 | | $700 |
Table 78 after “The following table reflects the Registrants' cash collateral held from external counterparties, which is recorded in Other current liabilit”
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| March 31, 2026 | December 31, 2025 | |
| Exelon | $217 | | $223 |
| ComEd | 192 | | 192 |
| PECO | 6 | | 6 |
| BGE | 8 | | 4 |
| PHI | 11 | | 21 |
| Pepco | 1 | | 13 |
| DPL | 10 | | 3 |
First 8 of 9 rows. The CSV has all of them.
Table 79 after “The following table reflects the Registrants' commercial paper programs supported by the revolving credit agreements at March 31, 2026 and D”
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| Outstanding Commercial Paper at | Average Interest Rate on Commercial Paper Borrowings at | | | | |
| Commercial Paper Issuer | March 31, 2026 | December 31, 2025 | | March 31, 2026 | December 31, 2025 | |
| Exelon(a) | $165 | | $612 | | 3.94% | 3.94% |
| ComEd | $46 | | $— | | 3.93% | —% |
| PECO | $— | | $— | | —% | —% |
| BGE | $— | | $— | | —% | —% |
| PHI(b) | $119 | | $612 | | 3.95% | 3.94% |
| Pepco | $73 | | $303 | | 3.94% | 3.93% |
First 8 of 10 rows. The CSV has all of them.
Table 80 after “On August 29, 2024, Exelon Corporate and each of the Utility Registrants amended and restated their respective syndicated revolving credit f”
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| 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 81 after “During the three months ended March 31, 2026, the following long-term debt was issued:”
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| Company | Type | Interest Rate | Maturity | Amount | Use of Proceeds |
| Exelon | Senior Notes | 4.95% | March 15, 2036 | $775 | Repay existing indebtedness and for general corporate purposes. |
| Pepco | First Mortgage Bonds | 5.00% | March 19, 2036 | 110 | Repay existing indebtedness and for general corporate purposes. |
| Pepco | First Mortgage Bonds | 5.30% | March 19, 2041 | 60 | Repay existing indebtedness and for general corporate purposes. |
| DPL | First Mortgage Bonds | 5.74% | March 19, 2056 | 75 | Repay existing indebtedness and for general corporate purposes. |
| ACE | First Mortgage Bonds | 4.95% | March 19, 2036 | 100 | Repay existing indebtedness and for general corporate purposes. |
Table 82 after “The carrying amounts of the Registrants’ short-term liabilities as presented in their Consolidated Balance Sheets are representative of thei”
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| March 31, 2026 | | December 31, 2025 | | | | | | | | | | | | | | | |
| 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 (b) | $50,185 | | | $— | | | $40,580 | | $4,558 | | $45,138 | | $49,078 | | $— | $40,637 | $4,318 | $44,955 |
| ComEd | 12,755 | | | — | | | 11,019 | | — | | 11,019 | | 12,753 | | — | 11,291 | — | 11,291 |
| PECO | 6,397 | | | — | | | 5,471 | | — | | 5,471 | | 6,396 | | — | 5,593 | — | 5,593 |
| BGE | 6,042 | | | — | | | 5,390 | | — | | 5,390 | | 6,041 | | — | 5,510 | — | 5,510 |
First 8 of 16 rows. The CSV has all of them.
| At March 31, 2026 | At December 31, 2025 | | | | | | | | | | | | |
| Level 1 | Level 2 | | Level 3 | | Total | Level 1 | | Level 2 | Level 3 | | Total | | |
| Assets | | | | | | | | | | | | | | |
| Cash equivalents(a) | $945 | | $— | | $— | | | $945 | | $825 | $— | | $— | $825 |
| Rabbi trust investments | | | | | | | | | | | | | | |
| Cash equivalents | 103 | | — | | — | | | 103 | | 101 | — | | — | 101 |
| Mutual funds | 72 | | — | | — | | | 72 | | 71 | — | | — | 71 |
| Fixed income | — | | 6 | | — | | | 6 | | — | 6 | | — | 6 |
First 8 of 22 rows. The CSV has all of them.
| ComEd | PECO | | BGE | | | | | | | | | | | | | | | | |
| At March 31, 2026 | 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) | $343 | | $— | | $— | | $343 | | $125 | | $— | | $— | | $125 | | $172 | $— | $— | $172 |
| Rabbi trust investments | | | | | | | | | | | | | | | | | | | | |
| Mutual funds | — | | — | | — | | — | | 13 | | — | | — | | 13 | | 11 | — | — | 11 |
| Life insurance contracts | — | | — | | — | | — | | — | | 25 | | — | | 25 | | — | — | — | — |
| Rabbi trust investments subtotal | — | | — | | — | | — | | 13 | | 25 | | — | | 38 | | 11 | — | — | 11 |
First 8 of 14 rows. The CSV has all of them.
| ComEd | PECO | | BGE | | | | | | | | | | | | | | | | |
| At December 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) | $393 | | $— | | $— | | $393 | | $93 | | $— | | $— | | $93 | | $205 | $— | $— | $205 |
| Rabbi trust investments | | | | | | | | | | | | | | | | | | | | |
| Mutual funds | — | | — | | — | | — | | 13 | | — | | — | | 13 | | 10 | — | — | 10 |
| Life insurance contracts | — | | — | | — | | — | | — | | 25 | | — | | 25 | | — | — | — | — |
| Rabbi trust investments subtotal | — | | — | | — | | — | | 13 | | 25 | | — | | 38 | | 10 | — | — | 10 |
First 8 of 14 rows. The CSV has all of them.
| At March 31, 2026 | At December 31, 2025 | | | | | | | | | | | |
| PHI | Level 1 | Level 2 | | Level 3 | Total | Level 1 | | Level 2 | Level 3 | Total | | | |
| Assets | | | | | | | | | | | | | |
| Cash equivalents(a) | $35 | | $— | | $— | | $35 | | $83 | | $— | $— | $83 |
| Rabbi trust investments | | | | | | | | | | | | | |
| Cash equivalents | 101 | | — | | — | | 101 | | 99 | | — | — | 99 |
| 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, 2026 | 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) | $20 | | $— | | $— | | $20 | | $10 | | $— | | $— | | $10 | | $5 | $— | $— | $5 |
| Rabbi trust investments | | | | | | | | | | | | | | | | | | | | |
| Cash equivalents | 100 | | — | | — | | 100 | | — | | — | | — | | — | | — | — | — | — |
| Life insurance contracts | — | | 23 | | 20 | | 43 | | — | | — | | — | | — | | — | — | — | — |
| Rabbi trust investments subtotal | 100 | | 23 | | 20 | | 143 | | — | | — | | — | | — | | — | — | — | — |
First 8 of 13 rows. The CSV has all of them.
Table 88 after “Note 10 — Fair Value of Financial Assets and Liabilities”
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| Pepco | DPL | | ACE | | | | | | | | | | | | | | | | |
| At December 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) | $33 | | $— | | $— | | $33 | | $3 | | $— | | $— | | $3 | | $— | $— | $— | $— |
| Rabbi trust investments | | | | | | | | | | | | | | | | | | | | |
| Cash equivalents | 98 | | — | | — | | 98 | | — | | — | | — | | — | | — | — | — | — |
| Life insurance contracts | — | | 23 | | 20 | | 43 | | — | | — | | — | | — | | — | — | — | — |
| Rabbi trust investments subtotal | 98 | | 23 | | 20 | | 141 | | — | | — | | — | | — | | — | — | — | — |
First 8 of 13 rows. The CSV has all of them.
Table 89 after “The following tables present the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis dur”
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| Exelon | ComEd | | PHI and Pepco | |
| Three Months Ended March 31, 2026 | Total | Commodity Derivatives | | Life Insurance Contracts | |
| Balance at December 31, 2025 | $(110) | | $(131) | | $20 |
| Total realized / unrealized gains (losses) | | | | | |
| Included in net income(a) | — | | — | | — |
| Included in regulatory assets/liabilities(b) | (2) | | (2) | | — |
| Balance at March 31, 2026(c) | $(112) | | $(133) | | $20 |
| The amount of total gains included in income attributed to the change in unrealized gains related to assets and liabilities at March 31, 2026 | $— | | $— | | $— |
Table 90 after “The following tables present the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis dur”
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| 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(b) | (19) | | (19) | | — |
| Balance at March 31, 2025(c) | $(129) | | $(151) | | $21 |
| The amount of total gains included in income attributed to the change in unrealized gains related to assets and liabilities at March 31, 2025 | $— | | $— | | $— |
Table 91 after “The table below discloses the significant unobservable inputs to the forward curve used to value mark-to-market derivatives.”
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| Type of trade | Fair Value at March 31, 2026 | Fair Value at December 31, 2025 | | Valuation Technique | Unobservable Input | 2026 Range & Arithmetic Average | 2025 Range & Arithmetic Average | | | | | | | |
| Commodity derivatives | $(133) | | $(131) | | Discounted Cash Flow | Forward power price(a) | $26.72 | - | $57.33 | $40.28 | $28.45 | - | $62.87 | $38.62 |
Table 92 after “The following amounts represent total commitment costs that have been recorded since the acquisition date and the total remaining obligation”
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| Description | Exelon | PHI | | Pepco | DPL | ACE | | |
| Total commitments | $513 | | $320 | | $120 | | $89 | $111 |
| Remaining commitments(a) | 21 | | 19 | | 19 | | — | — |
Table 93 after “The Registrants’ commercial commitments at March 31, 2026, representing commitments potentially triggered by future events were as follows:”
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| | Expiration within | | | | | | | | | |
| Total | 2026 | | 2027 | 2028 | 2029 | | 2030 | 2031 and beyond | | |
| Exelon | | | | | | | | | | | |
| Letters of credit(a) | $57 | | $38 | | $19 | | $— | | $— | $— | $— |
| Surety bonds(b) | 465 | | 185 | | 115 | | 165 | | — | — | — |
| Financing trust guarantees(c) | 378 | | — | | — | | 78 | | — | — | 300 |
| Guaranteed lease residual values(d) | 23 | | — | | 2 | | 6 | | 4 | 4 | 7 |
| Total commercial commitments | $923 | | $223 | | $136 | | $249 | | $4 | $4 | $307 |
First 8 of 42 rows. The CSV has all of them.
Table 94 after “At March 31, 2026 and December 31, 2025, the Registrants had accrued the following undiscounted amounts for environmental liabilities in Acc”
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| March 31, 2026 | December 31, 2025 | | | | |
| 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 | $381 | | $318 | | $386 | $321 |
| ComEd | 289 | | 288 | | 289 | 289 |
| PECO | 22 | | 20 | | 23 | 22 |
| BGE | 13 | | 10 | | 13 | 10 |
| PHI | 57 | | — | | 57 | — |
| Pepco | 55 | | — | | 55 | — |
First 8 of 10 rows. The CSV has all of them.
Table 95 after “The following forward sale agreements were entered into under Exelon’s ATM program in the first quarter of 2026:”
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| Effective Period | Shares Available (in millions) | Weighted-Average Net Price | Maturity Date | |
| Q1 2026 | 5.4 | $47.67 | | July 30, 2027 |
| Q1 2026 | 6.4 | $48.68 | | September 2, 2027 |
Table 96 after “Additionally, the following forward sale agreements were entered into during the twelve months ended 2025 under Exelon’s ATM program and wer”
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| Effective Period | Shares Available (in millions) | Weighted-Average Net Price | Maturity Date | |
| Q2 2025 | 3.6 | $43.17 | | November 16, 2026 |
| Q3 2025 | 11.5 | $43.73 | | December 15, 2026 |
| Q4 2025 | 0.8 | $45.42 | | December 15, 2026 |
Table 97 after “The following table presents changes in Exelon's AOCI, net of tax, by component:”
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| Three Months Ended March 31, 2026 | Cash Flow Hedges | Pension and Non-Pension Postretirement Benefit Plan Items(a) | | Total | |
| Balance at December 31, 2025 | $33 | | $(795) | | $(762) |
| OCI before reclassifications | (3) | | 4 | | 1 |
| Amounts reclassified from AOCI | (2) | | 7 | | 5 |
| Net current-period OCI | (5) | | 11 | | 6 |
| Balance at March 31, 2026 | $28 | | $(784) | | $(756) |
Table 98 after “The following table presents changes in Exelon's AOCI, net of tax, by component:”
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| 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 99 after “The following table presents Income tax benefit (expense) allocated to each component of Exelon's Other comprehensive income (loss):”
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| Three Months Ended March 31, | | | |
| | 2026 | 2025 | |
| 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 | | (1) | | (2) |
| Unrealized gains on cash flow hedges | | 1 | | 3 |
Table 100 after “The following tables provide additional information about material items recorded in the Registrants' Consolidated Statements of Operations ”
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| Taxes other than income taxes | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Three Months Ended March 31, 2026 | | | | | | | | | | | | | |
| Utility taxes(a) | $275 | | $86 | | $57 | | $36 | | $96 | | $86 | $9 | $1 |
| Property | 125 | | 10 | | 5 | | 63 | | 47 | | 31 | 15 | 1 |
| Payroll | 34 | | 8 | | 5 | | 4 | | 8 | | 2 | 1 | 1 |
| Three Months Ended March 31, 2025 | | | | | | | | | | | | | |
| Utility taxes(a) | $258 | | $81 | | $50 | | $34 | | $93 | | $84 | $8 | $1 |
First 8 of 10 rows. The CSV has all of them.
Table 101 after “The Registrants' utility taxes represent municipal and state utility taxes and gross receipts taxes related to their operating revenues. The”
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| Other, net | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Three Months Ended March 31, 2026 | | | | | | | | | | | | | |
| AFUDC — Equity | $57 | | $21 | | $10 | | $15 | | $11 | | $9 | $1 | $1 |
| Non-service net periodic benefit cost | (10) | | — | | — | | — | | — | | — | — | — |
| Three Months Ended March 31, 2025 | | | | | | | | | | | | | |
| AFUDC — Equity | $39 | | $12 | | $7 | | $9 | | $11 | | $8 | $2 | $1 |
| Non-service net periodic benefit cost | (13) | | — | | — | | — | | — | | — | — | — |
Table 102 after “Note 14 — Supplemental Financial Information”
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| Depreciation, amortization, and accretion | | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | | |
| Three Months Ended March 31, 2026 | | | | | | | | | | | | | | |
| Property, plant, and equipment(a) | $794 | | $317 | | $120 | | $132 | | $211 | | $94 | $59 | ` | $57 |
| Amortization of regulatory assets and liabilities, net(a) | 158 | | 87 | | 1 | | 35 | | 35 | | 20 | 7 | | 8 |
| Amortization of intangible assets, net(a) | — | | — | | — | | — | | — | | — | — | | — |
| ARO accretion(b) | 1 | | — | | — | | — | | — | | — | — | | — |
| Total depreciation, amortization, and accretion | $953 | | $404 | | $121 | | $167 | | $246 | | $114 | $66 | | $65 |
First 8 of 14 rows. The CSV has all of them.
Table 103 after “Included in Operating and maintenance expense in Exelon's Consolidated Statements of Operations and Comprehensive Income.”
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| Other non-cash operating activities | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Three Months Ended March 31, 2026 | | | | | | | | | | | | | |
| Pension and OPEB costs | $65 | | $27 | | $4 | | $7 | | $20 | | $7 | $4 | $2 |
| Allowance for credit losses | 109 | | 17 | | 43 | | 26 | | 23 | | 11 | 7 | 5 |
| True-up adjustments to decoupling mechanisms and formula rates(a) | 40 | | (8) | | (5) | | 22 | | 31 | | (1) | 6 | 26 |
| Amortization of operating ROU asset | 6 | | — | | — | | 2 | | 3 | | 1 | 1 | 1 |
| AFUDC — Equity | (57) | | (21) | | (10) | | (15) | | (11) | | (9) | (1) | (1) |
First 8 of 14 rows. The CSV has all of them.
Table 104 after “The following tables provide a reconciliation of cash, cash equivalents, and restricted cash reported within the Registrants’ Consolidated B”
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| Cash, cash equivalents, and restricted cash | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Balance at March 31, 2026 | | | | | | | | | | | | | |
| Cash and cash equivalents | $713 | | $95 | | $151 | | $173 | | $49 | | $20 | $12 | $12 |
| Restricted cash and cash equivalents | 560 | | 487 | | — | | 7 | | 31 | | 20 | 10 | 1 |
| Restricted cash included in Other deferred debits and other assets | 24 | | 24 | | — | | — | | — | | — | — | — |
| Total cash, restricted cash, and cash equivalents | $1,297 | | $606 | | $151 | | $180 | | $80 | | $40 | $22 | $13 |
| Balance at December 31, 2025 | | | | | | | | | | | | | |
First 8 of 12 rows. The CSV has all of them.
Table 105 after “The following table provides additional information about material items recorded in the Registrants' Consolidated Balance Sheets.”
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| Accrued expenses | | | | | | | | | | | | |
| Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Balance at March 31, 2026 | | | | | | | | | | | | | |
| Compensation-related accruals(a) | $395 | | $130 | | $55 | | $52 | | $66 | | $20 | $14 | $10 |
| Taxes accrued | 249 | | 118 | | 20 | | 105 | | 96 | | 71 | 21 | 10 |
| Interest accrued | 466 | | 105 | | 55 | | 91 | | 85 | | 37 | 28 | 19 |
| Balance at December 31, 2025 | | | | | | | | | | | | | |
| Compensation-related accruals(a) | $705 | | $209 | | $96 | | $99 | | $125 | | $35 | $24 | $17 |
First 8 of 10 rows. The CSV has all of them.
Table 106 after “The following table presents the service company costs allocated to the Registrants:”
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| Operating and maintenance from affiliates | Capitalized costs | | | | | | |
| Three Months Ended March 31, | | | Three Months Ended March 31, | | | | |
| 2026 | 2025 | | | 2026 | 2025 | | |
| Exelon | | | | | | | | |
| BSC | | | | | $134 | | $160 | |
| PHISCO | | | | | 25 | | 25 | |
| ComEd | | | | | | | | |
| BSC | $103 | | $100 | | | 61 | | 62 |
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 | | | | $— | | $— | | | $— | | $— | | | $— | | $70 | | | $— | | $2 | | $72 | |
| PECO | | $— | | | | — | | | — | | — | | | — | | 36 | | | — | | 5 | | 41 | |
| BGE | | — | | | — | | | | — | | — | | | — | | 31 | | | — | | 1 | | 32 | |
| PHI(a) | | — | | | — | | — | | | — | | — | | | — | | 2 | | | — | | 5 | | 7 |
| Pepco | | — | | | — | | — | | | | — | | | — | | 15 | | | 16 | | 1 | | 32 | |
| DPL | | — | | | — | | — | | | — | | | | — | | 10 | | | 14 | | 1 | | 25 | |
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 | | | | $— | | $— | | | $— | | $— | | | $— | | $76 | | | $— | | $5 | | $81 | |
| PECO | | $— | | | | — | | | — | | — | | | — | | 33 | | | — | | 2 | | 35 | |
| BGE | | — | | | — | | | | — | | — | | | — | | 39 | | | — | | — | | 39 | |
| PHI(a) | | — | | | — | | — | | | — | | — | | | — | | 5 | | | 2 | | 11 | | 18 |
| Pepco | | — | | | — | | — | | | | — | | | — | | 25 | | | 11 | | 1 | | 37 | |
| DPL | | — | | | — | | — | | | — | | | | — | | 15 | | | 10 | | — | | 25 | |
First 8 of 11 rows. The CSV has all of them.
Table 109 after “The following table presents Long-term debt to financing trusts:”
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| March 31, 2026 | December 31, 2025 | | | | | | | | |
| 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 110 after “The following table sets forth Exelon's GAAP consolidated Net income attributable to common shareholders by Registrant for the three months ”
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| Three Months Ended March 31, | | Favorable (Unfavorable) Variance | | | |
| | 2026 | | 2025 | | |
| Exelon | | | $919 | | $908 | $11 |
| ComEd | | | 310 | | 302 | 8 |
| PECO | | | 278 | | 266 | 12 |
| BGE | | | 298 | | 260 | 38 |
| PHI | | | 169 | | 194 | (25) |
| Pepco | | | 68 | | 97 | (29) |
First 8 of 11 rows. The CSV has all of them.
Table 111 after “The following table provides a reconciliation between GAAP Net income attributable to common shareholders and Adjusted (non-GAAP) operating ”
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| Three Months Ended March 31, | | | | |
| 2026 | 2025 | | | |
| (In millions, except per share data) | | Earnings per Diluted Share | | Earnings per Diluted Share | |
| Net income attributable to common shareholders | $919 | | $0.90 | $908 | $0.90 |
| Change in FERC audit liability (net of taxes of $1) | — | | — | 2 | — |
| Cost management charge (net of taxes of $0)(a) | — | | — | (1) | — |
| Regulatory matters (net of taxes of $4 and $7, respectively)(b) | 11 | | 0.01 | 22 | 0.02 |
| Adjusted (non-GAAP) operating earnings | $930 | | $0.91 | $932 | $0.92 |
Table 112 after “Completed Distribution Base Rate Case Proceedings”
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| 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 | | 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 13 rows. The CSV has all of them.
Table 113 after “Pending Distribution Base Rate Case Proceedings”
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| Registrant/Jurisdiction | Filing Date | Service | Requested Revenue Requirement Increase | Requested ROE | | Expected Approval Timing | |
| Pepco - Maryland | October 14, 2025 (amended April 16, 2026) | Electric | $120 | | 10.50% | | Third quarter of 2026 |
| DPL - Delaware | December 9, 2025 | Electric | $45 | | 10.50% | | Third quarter of 2027 |
Table 114 after “Results of Operations — ComEd”
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| Three Months Ended March 31, | | (Unfavorable) Favorable Variance | | | |
| | 2026 | | 2025 | | |
| Operating revenues | | | $1,913 | | $2,065 | $(152) |
| Operating expenses | | | | | | |
| Purchased power | | | 451 | | 689 | 238 |
| Operating and maintenance | | | 438 | | 423 | (15) |
| Depreciation and amortization | | | 404 | | 380 | (24) |
| Taxes other than income taxes | | | 105 | | 99 | (6) |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 |
| (Decrease) Increase |
| Distribution | $(8) |
| Transmission | 20 |
| Energy efficiency | 8 |
| Other | 3 |
| 23 |
| Regulatory required programs | (175) |
First 8 of 9 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 |
| Increase (Decrease) |
| Labor, other benefits, contracting, and materials | $21 |
| Storm-related costs | 12 |
| BSC costs | 3 |
| Pension and non-pension postretirement benefits expense | 2 |
| Other(a) | (20) |
| 18 |
First 8 of 10 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 |
| Increase |
| Depreciation and amortization(a) | $15 |
| Regulatory asset amortization | 9 |
| Total increase | $24 |
| Three Months Ended March 31, | | Favorable (Unfavorable) Variance | | | |
| | 2026 | | 2025 | | |
| Operating revenues | | | $1,492 | | $1,333 | $159 |
| Operating expenses | | | | | | |
| Purchased power and fuel | | | 612 | | 502 | (110) |
| Operating and maintenance | | | 337 | | 327 | (10) |
| Depreciation and amortization | | | 121 | | 109 | (12) |
| Taxes other than income taxes | | | 69 | | 60 | (9) |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 | | | | | |
| Increase (Decrease) | | | | | |
| | Electric | Gas | | Total | |
| Weather | | $8 | | $8 | | $16 |
| Volume | | (4) | | 1 | | (3) |
| Pricing | | 5 | | 2 | | 7 |
| Transmission | | 12 | | — | | 12 |
| Other(a) | | 25 | | 4 | | 29 |
First 8 of 11 rows. The CSV has all of them.
Table 120 after “PECO’s service territory for the three months ended March 31, 2026, compared to the same period in 2025, and normal weather consisted of the”
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| Three Months Ended March 31, | | | % Change | | | | |
| PECO Service Territory | 2026 | 2025 | Normal | 2026 vs. 2025 | | 2026 vs. Normal | | |
| Heating Degree-Days | 2,399 | | 2,351 | | 2,359 | | 2.0% | 1.7% |
| Cooling Degree-Days | 10 | | 1 | | 1 | | 900.0% | 900.0% |
Table 121 after “Electric volume, exclusive of the effects of weather, for the three months ended March 31, 2026 compared to the same period in 2025, remaine”
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| Electric Retail Deliveries to Customers (in GWhs) | | Three Months Ended March 31, | % Change | Weather -Normal% Change(b) | | |
| 2026 | 2025 | | | | |
| Residential | | | 3,952 | 3,859 | 2.4% | 0.1% |
| Small commercial & industrial | | | 2,010 | 1,946 | 3.3% | 1.0% |
| Large commercial & industrial | | | 3,132 | 3,425 | (8.6)% | (10.0)% |
| Public authorities & electric railroads | | | 176 | 189 | (6.9)% | (7.0)% |
| Total electric retail deliveries(a) | | | 9,270 | 9,419 | (1.6)% | (3.5)% |
Table 122 after “Electric volume, exclusive of the effects of weather, for the three months ended March 31, 2026 compared to the same period in 2025, remaine”
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| At March 31, | |
| Number of Electric Customers | 2026 | 2025 |
| Residential | 1,544,881 | 1,540,453 |
| Small commercial & industrial | 154,634 | 155,131 |
| Large commercial & industrial | 3,149 | 3,151 |
| Public authorities & electric railroads | 10,108 | 10,703 |
| Total | 1,712,772 | 1,709,438 |
Table 123 after “Reflects the change in delivery volumes assuming normalized weather based on the historical 30-year average.”
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| Natural Gas Deliveries to Customers (in mmcf) | | Three Months Ended March 31, | % Change | Weather -Normal% Change(b) | | |
| 2026 | 2025 | | | | |
| Residential | | | 22,436 | 21,834 | 2.8% | (0.9)% |
| Small commercial & industrial | | | 11,351 | 10,405 | 9.1% | 6.2% |
| Large commercial & industrial | | | (10) | 12 | (183.3)% | (20.0)% |
| Transportation | | | 7,142 | 7,242 | (1.4)% | (2.2)% |
| Total natural gas deliveries(a) | | | 40,919 | 39,493 | 3.6% | 0.7% |
Table 124 after “Reflects the change in delivery volumes assuming normalized weather based on the historical 30-year average.”
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| At March 31, | |
| Number of Natural Gas Customers | 2026 | 2025 |
| Residential | 511,085 | 509,773 |
| Small commercial & industrial | 44,642 | 44,869 |
| Large commercial & industrial | 7 | 7 |
| Transportation | 606 | 623 |
| Total | 556,340 | 555,272 |
| Three Months Ended March 31, 2026 |
| Increase (Decrease) |
| Labor, other benefits, contracting and materials | $17 |
| BSC costs | 6 |
| Pension and non-pension postretirement benefit expense | 1 |
| Credit loss expense | (2) |
| Storm-related costs | (6) |
| Other | 13 |
First 8 of 11 rows. The CSV has all of them.
| Three Months Ended March 31, | Favorable (Unfavorable) Variance | | |
| 2026 | 2025 | | |
| Operating revenues | $1,828 | | $1,554 | $274 |
| Operating expenses | | | | |
| Purchased power and fuel | 808 | | 609 | (199) |
| Operating and maintenance | 327 | | 305 | (22) |
| Depreciation and amortization | 167 | | 164 | (3) |
| Taxes other than income taxes | 104 | | 96 | (8) |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 | | | | |
| Increase (Decrease) | | | | |
| Electric | Gas | | Total | |
| Distribution | $4 | | $22 | | $26 |
| Transmission | (2) | | — | | (2) |
| Other | 9 | | 2 | | 11 |
| 11 | | 24 | | 35 |
| Regulatory required programs | 223 | | 16 | | 239 |
First 8 of 9 rows. The CSV has all of them.
Table 128 after “The demand for electricity and natural gas is affected by weather and customer usage. However, Operating revenues are not impacted by abnorm”
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| At March 31, | | |
| Number of Electric Customers | 2026 | 2025 | |
| Residential | 1,226,941 | | 1,220,769 |
| Small commercial & industrial | 115,253 | | 115,359 |
| Large commercial & industrial | 13,372 | | 13,302 |
| Public authorities & electric railroads | 251 | | 258 |
| Total | 1,355,817 | | 1,349,688 |
| At March 31, | | |
| Number of Natural Gas Customers | 2026 | 2025 | |
| Residential | 663,324 | | 661,195 |
| Small commercial & industrial | 37,735 | | 37,945 |
| Large commercial & industrial | 6,421 | | 6,380 |
| Total | 707,480 | | 705,520 |
| Three Months Ended March 31, 2026 |
| Increase (Decrease) |
| Credit loss expense | $11 |
| BSC costs | 3 |
| Pension and non-pension postretirement benefits expense | (5) |
| Labor, other benefits, contracting and materials | (16) |
| Other | 1 |
| (6) |
First 8 of 10 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 |
| Increase (Decrease) |
| Depreciation and amortization | $9 |
| Regulatory required programs(a) | 3 |
| Regulatory asset amortization | (9) |
| Total increase | $3 |
Table 132 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”
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| Three Months Ended March 31, | | (Unfavorable) Favorable Variance | | | |
| | 2026 | | 2025 | | |
| PHI | | | $169 | | $194 | $(25) |
| Pepco | | | 68 | | 97 | (29) |
| DPL | | | 77 | | 69 | 8 |
| ACE | | | 27 | | 31 | (4) |
| Other(a) | | | (3) | | (3) | — |
Table 133 after “Results of Operations — Pepco”
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| Three Months Ended March 31, | | Favorable (Unfavorable) Variance | | |
| 2026 | | 2025 | | | |
| Operating revenues | $989 | | | $859 | $130 |
| Operating expenses | | | | | |
| Purchased power | 411 | | | 318 | (93) |
| Operating and maintenance | 218 | | | 159 | (59) |
| Depreciation and amortization | 114 | | | 105 | (9) |
| Taxes other than income taxes | 118 | | | 113 | (5) |
First 8 of 18 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 |
| Increase |
| Distribution | $2 |
| Transmission | 3 |
| Other | 6 |
| 11 |
| Regulatory required programs | 119 |
| Total increase | $130 |
Table 135 after “The demand for electricity is affected by weather and customer usage. However, Operating revenues from electric distribution in both Marylan”
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| At March 31, | | |
| Number of Electric Customers in Maryland | 2026 | 2025 | |
| Residential | 560,946 | | 557,672 |
| Small commercial & industrial | 30,637 | | 30,555 |
| Large commercial & industrial | 19,058 | | 18,986 |
| Public authorities & electric railroads | 181 | | 177 |
| Total | 610,822 | | 607,390 |
| Three Months Ended March 31, 2026 |
| Increase (Decrease) |
| Maryland multi-year plan reconciliation(a) | $26 |
| Labor, other benefits, contracting, and materials | 9 |
| BSC and PHISCO costs | 5 |
| Storm-related costs | 1 |
| Other | (3) |
| 38 |
First 8 of 10 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 |
| Increase |
| Depreciation and amortization(a) | $6 |
| Regulatory asset amortization | 1 |
| Regulatory required programs(b) | 2 |
| Total increase | $9 |
| Three Months Ended March 31, | | Favorable (Unfavorable) Variance | | |
| 2026 | | 2025 | | | |
| Operating revenues | $622 | | | $548 | $74 |
| Operating expenses | | | | | |
| Purchased power and fuel | 289 | | | 247 | (42) |
| Operating and maintenance | 118 | | | 106 | (12) |
| Depreciation and amortization | 66 | | | 63 | (3) |
| Taxes other than income taxes | 26 | | | 21 | (5) |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 | | | | |
| Increase (Decrease) | | | | |
| Electric | Gas | | Total | |
| Weather | $3 | | $2 | | $5 |
| Volume | 1 | | (1) | | — |
| Distribution | 6 | | 10 | | 16 |
| Transmission | 2 | | — | | 2 |
| Other | — | | — | | — |
First 8 of 11 rows. The CSV has all of them.
Table 140 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”
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| Three Months Ended March 31, | | | % Change | | | | |
| Delaware Electric Service Territory | 2026 | 2025 | | Normal | 2026 vs. 2025 | 2026 vs. Normal | | |
| Heating Degree-Days | 2,531 | | 2,399 | | 2,406 | | 5.5% | 5.2% |
| Cooling Degree-Days | 9 | | 9 | | 1 | | —% | 800.0% |
Table 141 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”
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| Three Months Ended March 31, | | | % Change | | | | |
| Delaware Natural Gas Service Territory | 2026 | 2025 | | Normal | 2026 vs. 2025 | 2026 vs. Normal | | |
| Heating Degree-Days | 2,531 | | 2,399 | | 2,449 | | 5.5% | 3.3% |
Table 142 after “exclusive of the effects of weather, remained relatively consistent for the three months ended March 31, 2026 compared to the same period in”
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| Electric Retail Deliveries to Delaware Customers (in GWhs) | Three Months Ended March 31, | | % Change | | Weather - Normal% Change(b) | | |
| 2026 | | 2025 | | | | | |
| Residential | 974 | | | 930 | | 4.7% | 1.1% |
| Small commercial & industrial | 367 | | | 354 | | 3.7% | 1.8% |
| Large commercial & industrial | 687 | | | 690 | | (0.4)% | (1.0)% |
| Public authorities & electric railroads | 7 | | | 7 | | —% | (2.8)% |
| Total electric retail deliveries(a) | 2,035 | | | 1,981 | | 2.7% | 0.5% |
Table 143 after “exclusive of the effects of weather, remained relatively consistent for the three months ended March 31, 2026 compared to the same period in”
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| At March 31, | | |
| Number of Total Electric Customers (Maryland and Delaware) | 2026 | 2025 | |
| Residential | 496,074 | | 491,907 |
| Small commercial & industrial | 65,604 | | 64,999 |
| Large commercial & industrial | 1,288 | | 1,251 |
| Public authorities & electric railroads | 628 | | 617 |
| Total | 563,594 | | 558,774 |
Table 144 after “Reflects the change in delivery volumes assuming normalized weather based on the historical 20-year average.”
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| Natural Gas Retail Deliveries to Delaware Customers (in mmcf) | Three Months Ended March 31, | | % Change | | Weather - Normal% Change(b) | | |
| 2026 | | 2025 | | | | | |
| Residential | 4,678 | | | 4,590 | | 1.9% | (2.3)% |
| Small commercial & industrial | 2,128 | | | 1,970 | | 8.0% | 3.0% |
| Large commercial & industrial | 429 | | | 428 | | 0.2% | 0.2% |
| Transportation | 2,027 | | | 2,106 | | (3.8)% | (6.1)% |
| Total natural gas deliveries(a) | 9,262 | | | 9,094 | | 1.8% | (1.9)% |
| At March 31, | | |
| Number of Delaware Natural Gas Customers | 2026 | 2025 | |
| Residential | 132,419 | | 131,716 |
| Small commercial & industrial | 10,285 | | 10,254 |
| Large commercial & industrial | 14 | | 15 |
| Transportation | 159 | | 161 |
| Total | 142,877 | | 142,146 |
| Three Months Ended March 31, 2026 |
| Increase (Decrease) |
| Storm-related costs | $5 |
| Labor, other benefits, contracting, and materials | 2 |
| Credit loss expense | (2) |
| 5 |
| Regulatory required programs(a) | 7 |
| Total increase | $12 |
| Three Months Ended March 31, 2026 |
| Increase |
| Depreciation and amortization(a) | $2 |
| Regulatory asset amortization | — |
| Regulatory required programs(b) | 1 |
| Total increase | $3 |
| Three Months Ended March 31, | Favorable (Unfavorable) Variance | | |
| 2026 | 2025 | | |
| Operating revenues | $421 | | $373 | $48 |
| Operating expenses | | | | |
| Purchased power | 205 | | 157 | (48) |
| Operating and maintenance | 93 | | 90 | (3) |
| Depreciation and amortization | 65 | | 64 | (1) |
| Taxes other than income taxes | 2 | | 2 | — |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended March 31, 2026 |
| (Decrease) Increase |
| Distribution | $(1) |
| Transmission | 3 |
| 2 |
| Regulatory required programs | 46 |
| Total increase | $48 |
| At March 31, | | |
| Number of Electric Customers | 2026 | 2025 | |
| Residential | 510,569 | | 508,354 |
| Small commercial & industrial | 63,174 | | 62,861 |
| Large commercial & industrial | 2,660 | | 2,824 |
| Public authorities & electric railroads | 756 | | 723 |
| Total | 577,159 | | 574,762 |
| Three Months Ended March 31, 2026 |
| (Decrease) Increase |
| Storm-related costs | $4 |
| Credit Loss Expense | (2) |
| Other | (1) |
| 1 |
| Regulatory required programs | 2 |
| Total increase | $3 |
| Three Months Ended March 31, 2026 |
| Increase (Decrease) |
| Depreciation and amortization(a) | $2 |
| Regulatory asset amortization | 4 |
| Regulatory required programs | (5) |
| Total increase | $1 |
Table 153 after “The following table provides a summary of the change in cash flows from operating activities for the three months ended March 31, 2026 and 2”
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| Increase (decrease) in cash flows from operating activities | Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Net income (loss) | $11 | | $8 | | $12 | | $38 | | $(25) | | $(29) | $8 | $(4) |
| Adjustments to reconcile net income to cash: | | | | | | | | | | | | | |
| Non-cash operating activities | 148 | | (17) | | 288 | | 148 | | 88 | | 57 | 18 | 32 |
| Collateral received, net | 1 | | 47 | | (12) | | 3 | | (37) | | (22) | (2) | (11) |
| Income taxes | (203) | | (43) | | (294) | | (147) | | (70) | | (43) | (16) | (24) |
| Pension and non-pension postretirement benefit contributions | (54) | | (31) | | (3) | | (6) | | (10) | | — | (1) | (10) |
| Regulatory assets and liabilities, net | (415) | | (426) | | (82) | | 57 | | 23 | | 22 | 1 | (4) |
First 8 of 10 rows. The CSV has all of them.
Table 154 after “The following table provides a summary of the change in cash flows from investing activities for the three months ended March 31, 2026 and 2”
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| (Decrease) increase in cash flows from investing activities | Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Capital expenditures | $(412) | | $(295) | | $(45) | | $(31) | | $(45) | | $(45) | $9 | $(17) |
| Proceeds from sales of assets | — | | — | | — | | — | | — | | — | — | — |
| Changes in intercompany money pool | — | | — | | (5) | | — | | — | | — | 12 | — |
| Other investing activities | (2) | | (1) | | (3) | | 1 | | — | | — | — | — |
| (Decrease) increase in cash flows from investing activities | $(414) | | $(296) | | $(53) | | $(30) | | $(45) | | $(45) | $21 | $(17) |
| (Decrease) increase in cash flows from financing activities | Exelon | ComEd | | PECO | BGE | PHI | | Pepco | DPL | ACE | | | |
| Changes in short-term borrowings, net | $828 | | $(265) | | $192 | | $(62) | | $37 | | $(30) | $29 | $38 |
| Long-term debt, net | (1,305) | | — | | — | | — | | (80) | | (30) | (50) | — |
| Changes in intercompany money pool | — | | — | | — | | — | | 29 | | — | — | (12) |
| Issuance of common stock | (173) | | — | | — | | — | | — | | — | — | — |
| Dividends paid on common stock | (27) | | (15) | | — | | (16) | | — | | 2 | (4) | (5) |
| Distributions to member | — | | — | | — | | — | | (7) | | — | — | — |
| Contributions from parent/member | — | | 169 | | 4 | | — | | (77) | | (18) | (54) | (3) |
First 8 of 10 rows. The CSV has all of them.
| Period | Declaration Date | Shareholder of Record Date | Dividend Payable Date | Cash per Share(a) |
| First Quarter 2026 | February 12, 2026 | March 2, 2026 | March 13, 2026 | $0.4200 |
| Second Quarter 2026 | April 28, 2026 | June 4, 2026 | June 15, 2026 | $0.4200 |
Table 157 after “In the first quarter of 2026, Exelon entered into various forward sale agreements under the 2025 ATM programs. The forward sale agreements r”
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| Effective Period | Shares Available (in millions) | Weighted-Average Net Price | Maturity Date | |
| Q1 2026 | 5.4 | $47.67 | | July 30, 2027 |
| Q1 2026 | 6.4 | $48.68 | | September 2, 2027 |
| Effective Period | Shares Available (in millions) | Weighted-Average Net Price | Maturity Date | |
| Q2 2025 | 3.6 | $43.17 | | November 16, 2026 |
| Q3 2025 | 11.5 | $43.73 | | December 15, 2026 |
| Q4 2025 | 0.8 | $45.42 | | December 15, 2026 |
Table 159 after “The following table presents the incremental collateral that each Utility Registrant would have been required to provide in the event each U”
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| PJM Credit Policy Collateral | Other Incremental Collateral Required(a) | | Available Credit Facility Capacity Prior to Any Incremental Collateral | |
| ComEd | $19 | | $— | | $936 |
| PECO | 4 | | 38 | | 595 |
| BGE | 5 | | 20 | | 573 |
| Pepco | — | | — | | 225 |
| DPL | — | | 23 | | 253 |
| ACE | — | | — | | 299 |
Table 160 after “As of March 31, 2026, the most recent estimates of capital expenditures for plant additions and improvements for 2026 are as follows:”
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| (In millions) | Transmission | Distribution | | Gas | Total(a) | | |
| Exelon | N/A | N/A | | N/A | $9,900 | | |
| ComEd | 1,100 | | 2,400 | | N/A | 3,500 | |
| PECO | 450 | | 1,325 | | 400 | | 2,175 |
| BGE | 1,075 | | 575 | | 525 | | 2,175 |
| PHI | 725 | | 1,250 | | 50 | | 2,050 |
| Pepco | 325 | | 650 | | N/A | 975 | |
| DPL | 225 | | 325 | | 50 | | 625 |
First 8 of 9 rows. The CSV has all of them.
Table 161 after “To provide an additional short-term borrowing option that will generally be more favorable to the borrowing participants than the cost of ex”
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| During the Three Months Ended March 31, 2026 | At March 31, 2026 | | | |
| Exelon Intercompany Money Pool | Maximum Contributed | Maximum Borrowed | | Contributed (Borrowed) | |
| Exelon Corporate | $502 | | $— | | $373 |
| PECO | 343 | | (63) | | 5 |
| BSC | — | | (461) | | (322) |
| PHI Corporate | — | | (134) | | (120) |
| PCI | 64 | | — | | 64 |
Table 162 after “To provide an additional short-term borrowing option that will generally be more favorable to the borrowing participants than the cost of ex”
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| During the Three Months Ended March 31, 2026 | At March 31, 2026 | | | |
| PHI Intercompany Money Pool | Maximum Contributed | Maximum Borrowed | | Contributed (Borrowed) | |
| Pepco | $6 | | $— | | $— |
| DPL | — | | (6) | | — |
| ACE | — | | — | | — |
Table 163 after “The Utility Registrants are required to obtain short-term and long-term financing authority from Federal and State Commissions as follows:”
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| At March 31, 2026 | | | | | | | |
| Short-term Financing Authority | Remaining Long-term Financing Authority | | | | | | |
| Commission | Expiration Date | Amount | Commission | | Expiration Date | Amount | | |
| ComEd | FERC | December 31, 2027 | | $2,500 | | ICC | January 1, 2027, May 1, 2027, & January 1, 2029 | $4,393 |
| PECO | FERC | December 31, 2027 | | 1,500 | | PAPUC | December 31, 2027 | 1,850 |
| BGE | FERC | December 31, 2027 | | 900 | | MDPSC | N/A | 1,850 |
| Pepco(a) | FERC | December 31, 2027 | | 700 | | MDPSC / DCPSC | December 31, 2028 | 930 |
| DPL(a) | FERC | December 31, 2027 | | 700 | | MDPSC / DEPSC | December 31, 2028 | 625 |
First 8 of 9 rows. The CSV has all of them.
Table 164 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”
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| Maturities Within | Total Fair Value | | | | | | | | | |
| Commodity derivative contracts(a): | 2026 | 2027 | | 2028 | 2029 | 2030 | | 2031 and Beyond | | | |
| Prices based on model or other valuation methods (Level 3) | $(15) | | $(22) | | $(22) | | $(23) | | $(21) | $(30) | $(133) |
Table 165 after “Certifications Pursuant to Rule 13a-14(a) and 15d-14(a) of the Securities and Exchange Act of 1934 as to the Quarterly Report on Form 10-Q f”
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| 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.