爱克斯龙电力 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OFTHESECURITIES EXCHANGE ACT OF 1934 Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filingrequirements for the past 90days.Yes x No o Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 ofRegulationS-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and postsuch files).Yes x No o Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growthcompany" in Rule12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).Yes☐No x The number of shares outstanding of each registrant’s common stock as of March31, 2025 was: TABLE OF CONTENTS PageNo. GLOSSARY OF TERMS AND ABBREVIATIONSFILING FORMATCAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATIONWHERE TO FIND MORE INFORMATIONPARTI.FINANCIAL INFORMATIONITEM1.FINANCIAL STATEMENTSExelon CorporationConsolidated Statements of Operations and Comprehensive IncomeConsolidated Statements of Cash FlowsConsolidated Balance SheetsConsolidated Statements of Changes in Shareholders’ EquityCommonwealth Edison CompanyConsolidated Statements of Operations and Comprehensive IncomeConsolidated Statements of Cash FlowsConsolidated Balance SheetsConsolidated Statements of Changes in Shareholders' EquityPECO Energy CompanyConsolidated Statements of Operations and Comprehensive IncomeConsolidated Statements of Cash FlowsConsolidated Balance SheetsConsolidated Statements of Changes in Shareholder's EquityBaltimore Gas and Electric CompanyStatements of Operations and Comprehensive IncomeStatements of Cash FlowsBalance SheetsStatements of Changes in Shareholder's EquityPepco Holdings LLCConsolidated Statements of Operations and Comprehensive IncomeConsolidated Statements of Cash FlowsConsolidated Balance SheetsConsolidated Statements of Changes in Member's Equity Potomac Electric Power CompanyStatements of Operations and Comprehensive IncomeStatements of Cash FlowsBalance SheetsStatements of Changes in Shareholder's EquityDelmarva Power & Light CompanyStatements of Operations and Comprehensive IncomeStatements of Cash FlowsBalance SheetsStatements of Changes in Shareholder’s EquityAtlantic City Electric CompanyConsolidated Statements of Operations and Comprehensive IncomeConsolidated Statements of Cash FlowsConsolidated Balance SheetsConsolidated Statements of Changes in Shareholder’s EquityCombined Notes to Consolidated Financial Statements1. Significant Accounting Policies2. Regulatory Matters3. Revenue from Contracts with Customers4. Segment Information5. Accounts Receivable6. Income Taxes7. Retirement Benefits8. Derivative Financial Instruments9. Debt and Credit Agreements10. Fair Value of Financial Assets and Liabilities11. Commitments and Contingencies12. Shareholders' Equity13. Changes in Accumulated Other Comprehensive Income14. Supplemental Financial Information15. Related Party Transactions ITEM2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTSOF OPERATIONSExelon CorporationExecutive OverviewFinancial Results of OperationsSignificant 2025 Transactions and DevelopmentsOther Key Business Drivers and Management StrategiesCritical Accounting Policies and EstimatesResults of Operations By RegistrantCommonwealth Edison CompanyPECO Energy CompanyBaltimore Gas and Electric CompanyPepco Holdings LLCPotomac Electric Power CompanyDelmarva Power & Light CompanyAtlantic City Electric CompanyLiquidity and Capital ResourcesITEM3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKITEM4.CONTROLS AND PROCEDURESPARTII.OTHER INFORMATIONITEM1.LEGAL PROCEEDINGSITEM1A.RISK FACTORSITEM 5.OTHER INFORMATIONITEM6.EXHIBITSSIGNATURESExelon CorporationCommonwealth Edison CompanyPECO Energy CompanyBaltimore Gas and Electric CompanyPepco Holdings LLCPotomac Electric Power CompanyDelmarva Power & Light CompanyAtlantic City Electric Company FILING FORMAT This combined Form10-Q is being filed separately by Exelon Corporation, Commonwealth Edison Company, PECO Energy Company,Baltimore Gas and Electric Company, Pepco Holdings LLC, Potomac El