Consolidated Statements of Cash Flows (Unaudited) - Exelon - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 1,315	$ 1,300
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion	1,921	1,806
Deferred income taxes and amortization of investment tax credits	432	165
Net fair value changes related to derivatives	0	3
Other non-cash operating activities	464	734
Changes in assets and liabilities:
Accounts receivable	787	(460)
Inventories	(29)	(20)
Accounts payable and accrued expenses	(210)	(38)
Collateral (paid) received, net	72	14
Income taxes	(140)	(3)
Regulatory assets and liabilities, net	(874)	(294)
Pension and non-pension postretirement benefit contributions	(356)	(302)
Other assets and liabilities	287	(194)
Net cash flows provided by operating activities	3,669	2,711
Cash flows from investing activities
Capital expenditures	(4,558)	(3,959)
Proceeds from sales of assets	0	2
Other investing activities	(2)	(5)
Net cash flows used in investing activities	(4,560)	(3,962)
Cash flows from financing activities
Changes in short-term borrowings	131	(750)
Proceeds from short-term borrowings with maturities greater than 90 days	500	0
Issuance of long-term debt	3,600	3,800
Retirement of long-term debt	(1,600)	(807)
Issuance of common stock	382	173
Dividends paid on common stock	(860)	(808)
Proceeds from employee stock plans	24	11
Other financing activities	(57)	(56)
Net cash flows provided by financing activities	2,120	1,563
Increase in cash, restricted cash, and cash equivalents	1,229	312
Cash, restricted cash, and cash equivalents at beginning of period	1,201	939
Cash, restricted cash, and cash equivalents at end of period	2,430	1,251
Supplemental cash flow information
Decrease in capital expenditures not paid	$ (253)	$ (100)

Consolidated Balance Sheets (Unaudited) - Exelon - USD ($) shares in Millions, $ / shares in Millions, $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 1,813	$ 626
Restricted cash and cash equivalents	608	525
Accounts receivable
Customer accounts receivable	3,567	3,732
Customer allowance for credit losses	(508)	(435)
Customer accounts receivable, net	3,059	3,297
Other accounts receivable	1,294	1,879
Other allowance for credit losses	(94)	(94)
Other accounts receivable, net	1,200	1,785
Inventories, net
Fossil fuel	62	88
Materials and supplies	832	780
Regulatory assets	1,352	1,359
Prepaid renewable energy credits	381	563
Other	490	523
Total current assets	9,797	9,546
Property, plant and equipment, net	87,123	84,318
Deferred debits and other assets
Regulatory assets	9,412	9,214
Goodwill	6,630	6,630
Receivable related to Regulatory Agreement Units	5,280	4,755
Investments	327	312
Other	1,936	1,795
Total deferred debits and other assets	23,585	22,706
Total assets	120,505	116,570
Current liabilities
Short-term borrowings	1,243	612
Long-term debt due within one year	727	1,665
Accrued expenses	1,447	1,582
Customer deposits	589	533
Regulatory liabilities	573	1,128
Mark-to-market derivative liabilities	23	30
Unamortized energy contract liabilities	4	5
Renewable energy credit obligations	332	473
Other	590	577
Total current liabilities	9,008	10,331
Long-term debt	50,313	47,413
Long-term debt to financing trusts	390	390
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	14,348	13,715
Regulatory liabilities	11,727	11,016
Pension obligations	1,429	1,749
Non-pension postretirement benefit obligations	564	546
Asset retirement obligations	322	321
Mark-to-market derivative liabilities	105	106
Unamortized energy contract liabilities	14	16
Other	2,587	2,169
Total deferred credits and other liabilities	31,096	29,638
Total liabilities	90,807	87,772
Commitments and contingencies
Common stock, shares authorized (in shares)	2,000	2,000
Common stock (in dollars)	$ 0	$ 0
Shareholders’ equity
Common stock	$ 22,540	$ 22,106
Treasury stock, at cost	(123)	(123)
Retained earnings	8,031	7,577
Accumulated other comprehensive loss, net	(750)	(762)
Total shareholders’ equity	29,698	28,798
Total liabilities and shareholders’ equity	$ 120,505	$ 116,570
Common stock, shares outstanding (in shares)	1,032	1,023
Related Party
Current liabilities
Accounts payable	$ 5	$ 5
Long-term debt to financing trusts	390	390
Nonrelated Party
Current liabilities
Accounts payable	$ 3,475	$ 3,721