What the 10-K filed 2026-02-12 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-12.
Big customers
Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
No specific sentence about this in the 10-K.
Key suppliers
Parts or manufacturing that depend on one or a few suppliers.
No specific sentence about this in the 10-K.
Lawsuits and legal claims
3 newPending cases, settlements and what the company has set aside for them.
“On January 10, 2024, ComEd filed an appeal in the Illinois Appellate Court of the issues on which rehearing was denied, including but not limited to the allowed ROE, 50% equity ratio, and denial of a return on ComEd’s pension asset.”
Read it in the 10-K ↗
New “On October 17, 2025, ComEd filed its appeal with the Illinois Appellate Court for review of the ICC's order and its denial of rehearing.”
Read it in the 10-K ↗
“OAG filed a lawsuit against the United States seeking to declare the United States liable under CERCLA and the District of Columbia’s Brownfield Revitalization Act of 2000 and to recover the District’s response costs associated with its investigation and remediation of Anacostia River sediment contamination and for future NRDs.”
Read it in the 10-K ↗
New “Subsequent to Exelon announcing the receipt of the USAO subpoenas, various lawsuits were filed related to the subject of the subpoenas, and the conduct described in the DPA.”
Read it in the 10-K ↗
New “A putative class action alleging misrepresentations and omissions in Exelon’s SEC filings related to ComEd’s lobbying activities and the related investigations was also brought in federal court against Exelon and ComEd, which was subsequently settled.”
Read it in the 10-K ↗
Guarantees and indemnities
Promises to pay someone else's debts or losses if they cannot.
“The maximum potential obligation at the end of the minimum lease term would be $54 million guaranteed by Exelon and PHI, of which $18 million, $20 million, and $16 million is guaranteed by Pepco, DPL, and ACE, respectively.”
Read it in the 10-K ↗
Debt covenants
Conditions in loan agreements that, if broken, can make debt due early.
“As of December 31, 2025, the Registrants are in compliance with debt covenants.”
Read it in the 10-K ↗
Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
No specific sentence about this in the 10-K.
Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗
Work on EXC in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/EXC/export.csv") into a cell.