Consolidated Statements of Operations and Comprehensive Income (Unaudited) - PHI - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Operating revenues
Revenues from alternative revenue programs	$ (220)	$ (54)	$ (621)	$ (29)
Total operating revenues	6,705	6,154	18,846	17,557
Operating expenses
Operating and maintenance	1,172	1,275	3,840	3,756
Depreciation and amortization	912	908	2,717	2,681
Taxes other than income taxes	429	395	1,216	1,127
Total operating expenses	5,205	4,961	14,884	14,348
Gain on sale of assets	0	3	1	12
Operating income	1,500	1,196	3,963	3,221
Other income and (deductions)
Interest expense, net	(531)	(490)	(1,560)	(1,428)
Other, net	68	57	185	196
Total other income and (deductions)	(470)	(439)	(1,393)	(1,250)
Income before income taxes	1,030	757	2,570	1,971
Income taxes	155	50	396	158
Net income	875	707	2,174	1,813
Comprehensive income	878	683	2,179	1,803
Related Party
Other income and (deductions)
Interest expense to affiliates, net	(7)	(6)	(18)	(18)
Pepco Holdings LLC
Operating revenues
Revenues from alternative revenue programs	6	8	(27)	40
Total operating revenues	2,051	1,862	5,408	4,938
Operating expenses
Operating and maintenance	290	275	876	780
Depreciation and amortization	234	235	701	716
Taxes other than income taxes	150	140	426	395
Total operating expenses	1,591	1,439	4,346	3,977
Gain on sale of assets	0	0	1	0
Operating income	460	423	1,063	961
Other income and (deductions)
Interest expense, net	(102)	(95)	(303)	(279)
Other, net	18	22	54	79
Total other income and (deductions)	(84)	(73)	(251)	(200)
Income before income taxes	376	350	812	761
Income taxes	85	72	184	158
Net income	291	278	628	603
Comprehensive income	291	278	628	603
Pepco Holdings LLC \| Related Party
Operating revenues
Operating revenues from affiliates	2	3	7	7
Operating expenses
Operating and maintenance from affiliates	45	47	148	147
Other income and (deductions)
Interest expense to affiliates, net	0	0	(2)	0
Electricity, US Regulated
Operating revenues
Electric operating revenues	6,690	6,012	17,872	16,379
Operating expenses
Purchased power and/or fuel	2,645	2,349	6,640	6,483
Electricity, US Regulated \| Pepco Holdings LLC
Operating revenues
Electric operating revenues	2,016	1,828	5,280	4,769
Operating expenses
Purchased power and/or fuel	864	735	2,138	1,895
Natural Gas, US Regulated
Operating revenues
Electric operating revenues	235	196	1,595	1,207
Operating expenses
Purchased power and/or fuel	47	34	471	301
Natural Gas, US Regulated \| Pepco Holdings LLC
Operating revenues
Electric operating revenues	27	23	148	122
Operating expenses
Purchased power and/or fuel	$ 8	$ 7	$ 57	$ 44

EXELON CORP 10-Q