Summary
This filing is an amendment to Exelon Corporation's (EXC) Quarterly Report on Form 10-Q for the quarter ended September 30, 2002. The amendment corrects two minor typographical errors in the Consolidated Statements of Cash Flows related to 'Cash and Cash Equivalents at Beginning of Period' and 'End of Period.' These corrected amounts were already disclosed in Exelon's earnings press release. The core financial performance remains consistent with the original filing. For the nine months ended September 30, 2002, Exelon reported net income of $1,043 million, a decrease from $1,090 million in the prior year. This decline was influenced by factors such as a cumulative effect of accounting changes and changes in operating revenues and expenses. Despite the slight decrease in net income, the company's operational and investing activities generated significant cash flows, although investing activities used more cash primarily due to capital expenditures and acquisitions.
Key Highlights
- 1The filing primarily serves to correct minor typographical errors in the previously filed 10-Q, specifically regarding cash and cash equivalents balances.
- 2For the nine months ended September 30, 2002, Net Income was $1,043 million, down from $1,090 million in the same period of 2001.
- 3Operating Revenues for the nine months ended September 30, 2002, were $11,245 million, a decrease from $11,625 million in the prior year.
- 4Total Operating Expenses decreased to $8,828 million for the nine months ended September 30, 2002, from $9,032 million in the prior year.
- 5Net cash provided by operating activities was $2,601 million for the nine months ended September 30, 2002, down from $2,957 million in the prior year.
- 6Capital expenditures totaled $1,534 million for the nine months ended September 30, 2002, an increase from $1,352 million in the prior year, reflecting ongoing investment in property, plant, and equipment.
- 7The company adopted new accounting standards SFAS 141, 142, and 144, which impacted goodwill and other intangible assets, resulting in a goodwill impairment loss of $357 million recognized in the first quarter of 2002.