EXC 10-K Annual Reports

Exelon Corporation's 2025 10-K filing highlights a strong financial performance with net income attributable to common shareholders increasing by $308 million year-over-year, reaching $2.768 billion, or $2.73 per diluted share. This growth was primarily driven by favorable rate increases across its key utility subsidiaries (ComEd, PECO, BGE, and PHI), improved regulatory asset returns, and lower storm costs. The company continues its strategic focus on enhancing reliability, improving customer experience, and advancing clean energy initiatives, with significant planned investments of approximately $41 billion over the next four years in infrastructure modernization. Financially, Exelon's capital structure remains robust, with approximately $4 billion in aggregate credit facility commitments providing ample liquidity. The company also successfully issued new debt and utilized its at-the-market equity program, raising $691 million in net proceeds during 2025. While facing ongoing regulatory proceedings and capital expenditures, Exelon's business model, which allows for the recovery of costs and investments through regulated rates, positions it favorably for continued stability and growth. The company also reaffirms its commitment to shareholder returns with a declared quarterly dividend of $0.42 per share for the first quarter of 2026.

Exelon Corporation's (EXC) 2025 10-K filing details its primary operations as a utility services holding company, focusing on the transmission and distribution of electricity and natural gas across its six reportable segments: ComEd, PECO, BGE, Pepco, DPL, and ACE. The company's strategy centers on enhancing reliability, improving customer experience, and advancing clean energy initiatives, underpinned by significant capital investments in infrastructure modernization. Exelon reported a notable increase in net income attributable to common shareholders from continuing operations in 2024 compared to 2023, driven by favorable rate increases and operational efficiencies across several subsidiaries. Key financial and operational aspects highlighted include substantial planned capital expenditures of approximately $38 billion over the next four years, aimed at grid modernization and resilience. The company is also actively engaged in environmental initiatives, supporting clean energy policies and aiming to reduce GHG emissions as part of its 'Path to Clean' goal. Regulatory matters remain a significant factor, with Exelon navigating various rate case proceedings and compliance requirements across its jurisdictions, while managing risks related to regulatory changes and operational factors such as cybersecurity and extreme weather events.

Exelon Corporation's (Exelon) 2023 Form 10-K details its operations as a utility services holding company primarily engaged in the energy transmission and distribution businesses through its six regulated utility operating companies: ComEd, PECO, BGE, Pepco, DPL, and ACE. Following the separation of its generation business into Constellation Energy Corporation on February 1, 2022, Exelon is now solely focused on its utility operations. The company's strategy centers on improving reliability, enhancing customer experience, and advancing clean energy choices, supported by regulatory mechanisms that ensure fair financial returns on significant capital investments. Exelon is undertaking substantial capital investments, with approximately $35 billion planned over the next four years to modernize its electric and natural gas infrastructure, including smart grid technology and storm hardening. These investments are projected to increase its rate base by approximately $19 billion by the end of 2027. The company is committed to its "Path to Clean" goal to reduce operations-driven GHG emissions by 50% by 2030 (against a 2015 baseline) and reach net-zero operations-driven GHG emissions by 2050, while also supporting customers in their decarbonization efforts through significant energy efficiency programs. Despite these initiatives, Exelon faces ongoing regulatory proceedings and risks related to market, legislative, operational, and cybersecurity factors, which are detailed in the filing.

Exelon Corporation (EXC) operates as a utility services holding company engaged in energy distribution and transmission across multiple states. The company completed the separation of its generation business into Constellation Energy Corporation on February 1, 2022, allowing Exelon to focus solely on its utility operations. This strategic move aims to enhance operational excellence, meet financial commitments, and support clean energy initiatives across its service territories. Exelon's utilities are regulated by various state commissions and the FERC, with a significant portion of revenues subject to regulatory recovery mechanisms. The company plans substantial capital investments, approximately $31 billion over the next four years, to modernize infrastructure, improve reliability, and support clean energy goals, projecting an increase to its rate base by $18 billion by the end of 2026. Financially, Exelon demonstrated a strong performance in 2022, with net income attributable to common shareholders from continuing operations increasing by $438 million compared to 2021, driven by higher electric distribution earnings, energy efficiency programs, and favorable rate increases across its subsidiaries. The company also declared a regular quarterly dividend of $0.36 per share for the first quarter of 2023, indicating a stable return to shareholders. Exelon is committed to operational efficiency and strategic investments to enhance customer experience and advance clean energy, navigating a complex regulatory and market environment with a focus on long-term sustainable growth.

Exelon Corporation's 2021 10-K filing details a significant corporate restructuring with the successful separation of its utility and generation businesses into two distinct publicly traded entities, completed on February 1, 2022. The company's utility operations, comprising ComEd, PECO, BGE, Pepco, DPL, and ACE, continue to provide energy delivery services across various states, focusing on infrastructure improvements and modernization with significant planned investments. The financial performance in 2021 showed a decrease in net income attributable to common shareholders compared to 2020, primarily due to impacts from the February 2021 extreme cold weather event in Texas, accelerated depreciation related to prior plant retirement decisions (later reversed), and various impairments. Despite these factors, the utility segments demonstrated resilience, with several reporting higher net income driven by rate base growth, favorable regulatory outcomes, and increased allowed returns. Exelon highlights its ongoing commitment to operational excellence, customer experience enhancement, and advancing clean energy choices.

Exelon Corporation's 2021 10-K filing details a year of significant strategic decisions, including the approved plan to separate its utility and generation businesses into two distinct publicly traded companies. This move aims to unlock value by allowing each entity to focus on its core strategy and customer needs, with regulatory approvals being a key factor for completion. Financially, the company navigated the impacts of COVID-19, which led to an estimated impact on net income for Generation and Utility Registrants, partially offset by cost savings initiatives. The company's diversified operations include regulated utility services through subsidiaries like ComEd and PECO, and energy generation and marketing through Exelon Generation. The filing highlights ongoing investments in infrastructure modernization and smart grid technology by the utilities, while Generation continues to manage its competitive energy portfolio, including a pending sale of a significant portion of its solar business. The report also notes the company's commitment to operational excellence, financial performance, and corporate responsibility.

Exelon Corporation's (EXC) 2019 10-K filing reveals a company with diverse operations across energy generation, delivery, and marketing. The report highlights a robust utility segment providing a stable earnings foundation, complemented by Generation's competitive businesses which generate free cash flow. Exelon's strategy is focused on leveraging its integrated business model to navigate industry changes, emphasizing operational excellence and financial discipline. The company is committed to investing in its regulated utilities for improved reliability and customer experience, while Generation aims to create value through innovative energy solutions and hedging strategies to mitigate market volatility.

Exelon Corporation's 2018 10-K filing highlights a company with a diversified energy business, comprising both regulated utility operations across several states and a significant competitive energy generation segment. The utility segment, encompassing ComEd, PECO, BGE, Pepco, DPL, and ACE, serves millions of customers in densely populated areas. The generation segment, through Exelon Generation Company, LLC (Generation), is one of the largest competitive electricity generators in the U.S., with a substantial nuclear fleet and growing renewable energy assets. The company's financial performance in 2018 reflected a decrease in net income attributable to common shareholders compared to 2017, primarily due to the one-time remeasurement of deferred income taxes in 2017 related to the Tax Cuts and Jobs Act, net unrealized losses on Nuclear Decommissioning Trust (NDT) funds, and accelerated depreciation from early plant retirements. Financially, Exelon maintained its commitment to shareholder returns with a dividend increase, while continuing significant capital investments in its utility infrastructure aimed at improving reliability and modernization. The company's strategy involves leveraging the stable earnings of its regulated utilities to fund investments and support its competitive generation business. Exelon also focused on cost management initiatives to drive efficiency across its operations. Key risks and operational factors include managing commodity price volatility in competitive markets, navigating evolving regulatory and legislative environments, and ensuring the safe and reliable operation of its nuclear facilities, including managing decommissioning obligations. The company's operational performance remains strong, particularly its nuclear fleet's high capacity factors, but it faces ongoing challenges related to market pricing and regulatory policy. Exelon's diversified business model, with a strong regulated utility foundation and a competitive generation arm, positions it to adapt to the changing energy landscape.

This 10-K filing for Exelon Corporation (EXC) on February 9, 2018, details the company's operations as a utility services holding company. Exelon is engaged in both energy generation through Exelon Generation Company, LLC (Generation) and energy delivery through its subsidiaries: Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Pepco Holdings LLC (PHI), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL), and Atlantic City Electric Company (ACE). The company's business model leverages its regulated utility operations for stable earnings and its competitive generation business for free cash flow, which is reinvested in utilities and long-term contracted assets. Key financial highlights from 2017 show a significant increase in net income attributable to common shareholders compared to 2016, largely driven by the inclusion of PHI's operations for the full year and the acquisition of the FitzPatrick nuclear generating station. The company also announced an updated dividend policy, increasing it by 5% annually from 2018 through 2020. Exelon's strategy focuses on improving utility reliability and customer experience, alongside pursuing growth opportunities in competitive energy businesses through optimal asset structure and stable revenues. The company anticipates significant future investments in its regulated utility infrastructure.

Exelon Corporation's (EXC) 2016 10-K filing highlights a significant year marked by the completion of the Pepco Holdings Inc. (PHI) merger, which expanded its regulated utility customer base to over 10 million. Financially, the company reported a net income attributable to common shareholders of $1,134 million, a decrease from $2,269 million in 2015, primarily impacted by merger-related costs and early nuclear plant retirement decisions which were later reversed for some facilities due to new state legislation. Exelon's generation segment faced challenging competitive energy markets with depressed prices, impacting its results, while its regulated utilities benefited from increased capital investments in infrastructure and modernization programs, such as smart meter deployments. The company maintains a strategy focused on stable earnings from its regulated utilities, free cash flow generation from its competitive businesses to fund investments and debt reduction, and financial discipline to maintain investment-grade credit metrics.

Exelon Corporation, a utility services holding company, reported its 2015 annual results, highlighting a strong performance driven by its generation segment and regulated utilities. The company's strategic focus on operational excellence and financial discipline continues to yield positive results, with net income attributable to common shareholders increasing to $2,269 million in 2015 from $1,623 million in 2014. This improvement was largely due to higher revenues net of purchased power and fuel expenses at its Generation segment, benefiting from the full-year consolidation of CENG and favorable market conditions, alongside a decrease in operating and maintenance expenses primarily due to lower impairment charges. The company's regulated utilities, ComEd, PECO, and BGE, also demonstrated resilience, with increased distribution and transmission revenues driven by capital investments in infrastructure modernization and smart grid initiatives. Exelon's pending merger with Pepco Holdings, Inc. (PHI) is progressing with key regulatory approvals secured, though still awaiting a final decision from the DCPSC. The company is actively managing its capital structure, maintaining investment-grade credit metrics, and returning value to shareholders through dividends, with a revised policy to increase dividends by 2.5% annually over the next three years. Exelon remains focused on strategic growth opportunities in both its regulated and competitive businesses, while navigating evolving market and regulatory landscapes.

Exelon Corporation's 2014 10-K filing highlights a year of significant operational integration, including the full consolidation of CENG's nuclear fleet and the acquisition of Integrys Energy Services. The company is progressing with its proposed merger with Pepco Holdings, Inc. (PHI), having received several key regulatory approvals and anticipating closure in the second or third quarter of 2015. Exelon's utility businesses (ComEd, PECO, BGE) are focused on infrastructure modernization and smart grid deployments, supported by performance-based regulatory frameworks that allow for capital recovery and provide stable returns. Generation's diverse portfolio, with a strong emphasis on nuclear power, navigates competitive energy markets while managing commodity price risks through a robust hedging strategy. The company's financial performance in 2014 saw a slight decrease in net income attributable to common shareholders compared to 2013, primarily due to higher operating and maintenance expenses, including long-lived asset impairments, partially offset by gains on asset sales and the consolidation of CENG. Exelon remains committed to maintaining investment-grade credit metrics and returning value to shareholders through a sustainable dividend and earnings growth.

In Exelon Corporation's (EXC) 2013 10-K filing, the company outlined its business operations and financial performance, highlighting a diversified portfolio of regulated utilities (ComEd, PECO, BGE) and a significant competitive energy generation business (Generation). The company completed its merger with Constellation Energy Group, Inc. in March 2012, integrating generation and customer supply operations with its utility businesses. The filing detailed substantial investments in infrastructure modernization, smart grid technology, and renewable energy projects as part of its Exelon 2020 initiative. Exelon's financial strategy focused on maintaining investment-grade credit metrics and returning value to shareholders through dividends and earnings growth. Key financial results for 2013 showed an increase in net income attributable to common shareholders, primarily driven by the full-year inclusion of Constellation and BGE operations, improved utility returns, and realized post-merger synergies. However, the competitive energy generation market faced challenges from declining realized power and gas prices, impacting Generation's profitability. Management emphasized its commitment to operational excellence and financial discipline while navigating market and regulatory risks.

Exelon Corporation's 2012 10-K filing details a pivotal year marked by the significant acquisition of Constellation Energy Group, Inc., which broadened its operational footprint and diversified its energy portfolio. The company operates through its core segments: Exelon Generation, providing competitive energy generation and customer supply services, and Exelon Utilities, encompassing ComEd (Illinois), PECO (Pennsylvania), and BGE (Maryland), which focus on energy delivery. The company highlights its large, low-carbon generating fleet, particularly its nuclear assets, which are noted for high capacity factors. Exelon is actively investing in transmission and distribution infrastructure modernization, smart grid technologies, and renewable energy projects, such as the Antelope Valley Solar Ranch One. The report also discusses the company's strategic focus on maintaining investment-grade credit metrics, returning value to shareholders through dividends, and pursuing growth opportunities in competitive markets. However, Exelon faces various risks including market and financial risks tied to wholesale power price volatility, regulatory and legislative changes impacting competitive markets and cost recovery, and operational risks inherent in managing a large nuclear fleet and complex distribution systems. The company is proactively managing these through hedging strategies and operational excellence.

Exelon Corporation, in its 2011 annual report, highlighted a stable financial performance with net income of $2.5 billion, or $3.75 per diluted share, a slight decrease from 2010's $2.6 billion. The company is strategically navigating a transitional period, notably with the pending merger with Constellation Energy Group, Inc., announced in April 2011, which is anticipated to be accretive to earnings post-completion. Exelon Generation continues to be a strong performer, operating the largest nuclear fleet in the U.S. and demonstrating high capacity factors, while the regulated utilities, ComEd and PECO, are investing heavily in infrastructure modernization, supported by new legislation in Illinois (EIMA) and ongoing rate case approvals in Pennsylvania. Key strategic initiatives include the nuclear uprate program, expansion into renewable energy projects, and a focus on cost management and operational excellence across all business segments. The company's outlook for 2012 and beyond remains positive, contingent on the successful closure of the Constellation merger and continued regulatory support.

Exelon Corporation's 2010 10-K filing highlights a stable operational year with solid performance across its regulated utility businesses, ComEd and PECO, which benefited from favorable weather conditions and recovery of regulatory program costs. The Generation segment, while facing some market and portfolio headwinds, demonstrated resilience through its predominantly nuclear fleet and effective hedging strategies. The company is actively investing in growth opportunities, including a significant nuclear uprate program and the acquisition of Exelon Wind, signaling a strategic shift towards renewable energy. Exelon also emphasized its commitment to managing costs, liquidity, and capital expenditures to ensure continued shareholder value while navigating a dynamic regulatory and market environment.

Exelon Corporation, a utility services holding company, operates through its principal subsidiaries: Generation, ComEd, and PECO. Generation is a major competitive electric generator with a significant nuclear fleet, while ComEd and PECO are regulated energy delivery companies serving northern Illinois and southeastern Pennsylvania, respectively. In 2009, Exelon reported net income of $2.71 billion, a slight decrease from $2.74 billion in 2008, primarily impacted by lower revenue net of purchased power and fuel expense at Generation due to unfavorable market conditions and reduced hedging gains. ComEd saw improved net income due to higher distribution rates, while PECO experienced a slight increase in net income driven by higher gas distribution rates, though offset by reduced load. Key strategic initiatives for 2010 include pursuing nuclear plant upgrades, expanding smart meter deployment at PECO with potential federal grant funding, and developing Exelon Transmission to capitalize on the growing national market for new transmission lines. The company continues to focus on cost management, having achieved $200 million in savings in 2009 through various efficiency initiatives.

This section of Exelon Corporation's 2009 10-K filing details security ownership by significant shareholders, directors, and executive officers as of December 31, 2008. Notably, two divisions of Capital Research and Management Company, Capital World Investors and Capital Research Global Investors, are the largest disclosed beneficial owners, collectively holding approximately 11% of Exelon's outstanding common stock. The filing also outlines stock ownership requirements for directors and officers, emphasizing the company's commitment to aligning management's interests with those of shareholders. Executive compensation structures are further detailed through equity compensation plans, with a substantial number of securities available for future issuance, indicating a continued reliance on stock-based incentives. The ownership data for both Exelon and its subsidiary, ComEd, reveals significant holdings by key executives, with many exceeding their mandated ownership guidelines, suggesting strong alignment with shareholder value.

Exelon Corporation's (EXC) 2008 10-K filing highlights significant risks and uncertainties stemming from the global financial crisis. The company emphasizes the "national and world-wide financial crisis" as a primary risk factor, noting its potential to disrupt capital and credit markets, increase commodity market volatility, and impact liquidity. This instability could affect Exelon's ability to meet financial commitments, its hedging effectiveness, and the competitiveness of energy markets, ultimately impacting financial condition, results of operations, and cash flows, including the ability to pay dividends or fund growth projects. Furthermore, Exelon operates in a highly regulated environment, with "fundamental changes in regulation" posing a significant risk to business plans and financial results. The filing also points to the potential negative impact of market performance and other changes on decommissioning trust funds and benefit plan assets, which could necessitate significant additional funding. Exelon is also navigating the proposed acquisition of NRG Energy, Inc., which introduces integration challenges, increased indebtedness, and potential unknown liabilities. Investors should be aware of these multifaceted risks as Exelon manages its operations amidst economic and regulatory challenges.

Exelon Corporation's (EXC) 2007 10-K filing highlights a strong financial performance, with net income increasing significantly to $2.74 billion, driven by factors such as the absence of goodwill impairment charges seen in prior years, improved margins from Exelon Generation, and increased transmission revenues at ComEd. The company also successfully navigated regulatory landscapes, notably with the Illinois Settlement Legislation aimed at providing rate relief to customers while stabilizing the company's operating environment. Despite favorable results, the report underscores numerous risks, including the highly regulated nature of the business, potential for adverse regulatory changes, inflationary pressures on operating costs, and the impact of capital market volatility on trust funds. Exelon continues to manage its capital structure through debt issuance and share repurchases, while also investing in capital expenditures across its generation, transmission, and distribution segments. The company's outlook for 2008 and beyond is cautiously optimistic, contingent on continued regulatory stability and effective management of market price risks.

This 2007 10-K filing for Exelon Corporation (EXC) highlights significant risks and operational details, particularly concerning its generation and utility segments. The company operates in a regulated environment, making regulatory treatment a crucial factor for its financial performance. Exelon's Generation segment faces market transition risks, including price fluctuations in electricity and natural gas markets due to increased reliance on bilateral agreements. Nuclear operations present specific risks related to capacity factors, refueling outages, fuel quality, and regulatory compliance. The utility segments, ComEd and PECO, are heavily reliant on regulatory approvals for rates and business plans, facing potential adverse impacts from regulatory lag and prudency reviews. A significant risk highlighted is the potential for ComEd to file for Chapter 11 bankruptcy if Illinois enacts rate rollback and freeze legislation, which could have severe financial consequences for Exelon and its subsidiaries. The company also details its extensive capital expenditures and financing activities, noting access to substantial credit facilities while managing risks associated with goodwill impairment charges, particularly at ComEd. Exelon's outlook for 2007 and beyond is influenced by regulatory developments, commodity price risks, and potential impacts from federal and state legislation concerning renewable energy and carbon emissions.

This Exelon Corporation (EXC) 10-K filing from February 15, 2006, highlights significant risks and operational details, particularly concerning its utility subsidiaries, ComEd and PECO, and its generation segment. A major theme is regulatory uncertainty, especially for ComEd and PECO as rate freezes and caps approach expiration, with contentious rate-setting processes involving various stakeholders. ComEd faces risks related to buying electricity at potentially higher market rates while selling at capped rates, which could impact its credit rating and access to credit markets. PECO's financial performance may be affected by higher purchased gas costs and fluctuations in electricity and gas usage due to weather. The filing also details Generation's exposure to market risk and price volatility after the expiration of significant power purchase arrangements, alongside operational risks tied to its nuclear facilities, including refueling outages and potential environmental liabilities. Exelon's proposed merger with PSEG is a significant development, carrying integration risks and potential goodwill impairment, alongside transaction and integration costs. The company is also navigating impacts from hurricanes Katrina and Rita and potential phase-outs of synthetic fuel tax credits due to rising oil prices.

Exelon Corporation's (EXC) 2004 10-K filing highlights significant improvements in net income, driven by strong performance in its Generation segment, which rebounded from a net loss in 2003 to substantial net income in 2004 due to improved wholesale prices and the absence of significant 2003 impairment charges. The Energy Delivery segment showed a slight decrease in net income, impacted by unfavorable weather and debt retirement charges, though this was partially offset by customer growth and reduced corporate expenses. Financially, Exelon demonstrated a strong balance sheet, supported by internally generated cash flows. The company also announced a significant proposed merger with PSEG, a major step towards expanding its operational footprint and achieving strategic goals. Key financing activities included substantial debt retirements and improved credit facility arrangements. Investors will be closely watching the progress of the PSEG merger and the regulatory approvals required for its completion, as well as the company's ongoing efforts to manage costs and adapt to evolving industry restructurings.

Exelon Corporation's (EXC) 2003 10-K filing highlights a year of operational focus and significant investment in infrastructure, alongside strategic divestitures and the implementation of "The Exelon Way" initiative aimed at improving operational cash flow. The company reported a net loss of $133 million for Generation, primarily due to a $573 million after-tax impairment charge related to Boston Generating assets and $180 million in impairment and transaction-related charges for its investment in Sithe. Conversely, ComEd experienced an 11% decline in net income due to lower operating revenues from unfavorable weather and customer choice, coupled with higher operating expenses, though offset by lower depreciation and interest expenses. PECO saw a 2% decline in net income driven by higher fuel and O&M expenses. All segments are navigating a changing energy industry landscape, with a focus on cost control, reliability, and adapting to potential future regulatory frameworks.

This 10-K filing from Exelon Corporation, filed on December 15, 2003, is an amendment providing updated information regarding controls and procedures following SEC comments. The filing details the evaluation of disclosure controls and procedures by the management of Exelon Corporation and its subsidiaries (Commonwealth Edison Company, PECO Energy Company, and Exelon Generation Company, LLC) as of December 31, 2002. These controls were found to be effective in ensuring the accurate and timely reporting of material information, though the inherent limitations of any control system are acknowledged. Key financial statement schedules, particularly those related to valuation and qualifying accounts (allowance for uncollectible accounts, reserves for merger-related costs, injuries and damages, environmental remediation, and obsolete materials) for the years 2000, 2001, and 2002, are also provided for each subsidiary. A comprehensive list of exhibits, including significant agreements, incorporation documents, credit facilities, and various executive employment and benefit plans, is also detailed, providing insight into the company's contractual and operational framework.

Exelon Corporation's 2002 10-K filing reveals a company navigating the evolving energy landscape. The report highlights the dual focus on regulated energy delivery through its subsidiaries ComEd and PECO, and its competitive generation business, Exelon Generation. The company is actively managing the impacts of energy market restructuring, including customer choice programs in Illinois and Pennsylvania, and is investing significantly in transmission and distribution infrastructure to improve reliability. Financially, Exelon is working to manage costs and maintain its credit ratings amidst ongoing regulatory proceedings. The Generation segment, a major player in the competitive generation market, is focused on optimizing its diverse fleet of nuclear, fossil, and hydroelectric facilities, while also managing the integration of recent acquisitions and the associated risks. Investors should note the company's capital expenditure plans, its strategic approach to managing energy commodity price risks, and the ongoing efforts to address potential impacts from regulatory changes and market volatility.

This 10-K filing from Exelon Corporation, filed on October 31, 2002, is an amendment to their previous filing for the period ended December 31, 2001. The primary purpose of this amendment is to reflect restatements related to accounting for deferred income taxes on nuclear decommissioning trust fund securities and to adjust Other Comprehensive Income for equity investments. Notably, these restatements, totaling approximately $128 million in Other Comprehensive Income reduction as of December 31, 2001, do not impact earnings per share, net income, or cash flow for the reported periods. For investors, the company's substantial market capitalization of over $15.8 billion as of March 1, 2002, and its outstanding share count of approximately 321.4 million shares, indicate its significant presence in the market. The filing heavily references prior reports and incorporated documents for detailed financial statements and selected financial data, suggesting that the core financial performance and condition are to be found in those referenced materials.

Exelon Corporation's 2001 10-K filing details a complex organizational structure with three primary segments: Energy Delivery, Generation, and Enterprises. Following a significant restructuring in January 2001, Exelon separated its regulated energy delivery businesses (ComEd and PECO) from its competitive generation and other businesses. The Energy Delivery segment comprises the transmission and distribution operations in Northern Illinois (ComEd) and Southeastern Pennsylvania (PECO), which are subject to regulatory oversight by state commissions and the FERC. The Generation segment is a major player in electric generation, with a substantial portfolio of owned and controlled capacity, predominantly nuclear and fossil-fueled. This segment is involved in wholesale power marketing and has significant investments in Sithe Energies and AmerGen. The Enterprises segment encompasses various competitive retail energy sales, energy services, communications, and other non-utility investments. The company navigated the evolving regulatory landscape of utility deregulation across its operating regions, with both ComEd and PECO facing rate caps and the need to manage customer choice programs. The report also highlights the impact of the September 11th events on security measures and potential insurance costs.

This 10-K filing for Exelon Corporation (EXC), filed on September 5, 2001, primarily serves as an amendment to provide information regarding Commonwealth Edison Company (ComEd) and PECO Energy Company (PECO) in response to specific items in Part III. The filing details directors and executive officers, executive compensation, security ownership, and related transactions for the individual entities and the consolidated Exelon Corporation. Investors can gain insights into the leadership structure, compensation practices, and stock holdings within the Exelon corporate family at the time of this filing, which occurred after the merger of Unicom and PECO in October 2000. The information presented highlights the compensation packages for key executives, including salaries, bonuses, stock options, and long-term incentive plans. It also details the ownership of Exelon common stock by directors and executive officers of PECO and ComEd. The filing also touches upon retirement plans and employment agreements for senior management, providing a glimpse into executive benefits and retention strategies during a period of significant corporate integration. Additionally, it includes a performance graph comparing PECO/Exelon's stock performance against major indices.