| | |
Page
|
| |||
| | | | S-1 | | | |
| | | | S-2 | | | |
| | | | S-3 | | | |
| | | | S-4 | | | |
| | | | S-5 | | | |
| | | | S-5 | | | |
| | | | S-6 | | | |
| | | | S-7 | | | |
| | | | S-15 | | | |
| | | | S-20 | | | |
| | | | S-21 | | | |
| | | | S-25 | | | |
| | | | S-26 | | | |
| | | | S-26 | | | |
| | | | S-26 | | |
| | | | | 1 | | | |
| | | | | 1 | | | |
| | | | | 2 | | | |
| | | | | 2 | | | |
| | | | | 3 | | | |
| | | | | 3 | | | |
| | | | | 3 | | | |
| | | | | 3 | | | |
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 6 | | |
| | |
Year Ended December 31,
|
| |
Three Months Ended
March 31, |
| ||||||||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2021
|
| |
2024
|
| |
2023
|
| |||||||||||||||
| | |
($ in millions)
|
| |
(unaudited)
|
| ||||||||||||||||||||||||
Income Statement Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating revenues
|
| | | $ | 4,027 | | | | | $ | 3,895 | | | | | $ | 3,341 | | | | | $ | 1,297 | | | | | $ | 1,257 | | |
Operating income
|
| | | | 782 | | | | | | 519 | | | | | | 481 | | | | | | 330 | | | | | | 293 | | |
Net income
|
| | | | 485 | | | | | | 380 | | | | | | 408 | | | | | | 264 | | | | | | 200 | | |
Cash Flow Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash interest paid, net of amount capitalized
|
| | | $ | (171) | | | | | $ | (147) | | | | | $ | (134) | | | | | $ | (31) | | | | | $ | (37) | | |
Capital expenditures
|
| | | | (1,367) | | | | | | (1,262) | | | | | | (1,226) | | | | | | (324) | | | | | | (350) | | |
Net cash flows provided by operating activities
|
| | | | 951 | | | | | | 760 | | | | | | 729 | | | | | | 317 | | | | | | 309 | | |
Net cash flows used in investing activities
|
| | | | (1,360) | | | | | | (1,251) | | | | | | (1,208) | | | | | | (316) | | | | | | (347) | | |
Net cash flows provided by financing activities
|
| | | | 390 | | | | | | 503 | | | | | | 389 | | | | | | (22) | | | | | | (8) | | |
| | |
As of December 31,
|
| |
As of March 31,
2024 |
| ||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2021
|
| |||||||||||||||
| | |
($ in millions)
|
| |
(unaudited)
|
| ||||||||||||||||||
Balance Sheet Data | | | | | | | | | | | | | | | | | | | | | | | | | |
Property, plant and equipment, net
|
| | | $ | 12,102 | | | | | $ | 11,338 | | | | | $ | 10,577 | | | | | $ | 12,291 | | |
Regulatory assets, including current portion
|
| | | | 956 | | | | | | 704 | | | | | | 692 | | | | | | 979 | | |
Total assets
|
| | | | 14,184 | | | | | | 13,350 | | | | | | 12,324 | | | | | | 14,444 | | |
Regulatory liabilities, including current portion
|
| | | | 800 | | | | | | 863 | | | | | | 960 | | | | | | 725 | | |
Long-term debt, including long-term debt due within one
year |
| | | | 4,602 | | | | | | 4,207 | | | | | | 3,961 | | | | | | 4,602 | | |
Total liabilities
|
| | | | 8,694 | | | | | | 8,414 | | | | | | 7,754 | | | | | | 8,782 | | |
Total shareholders’ equity
|
| | | | 5,490 | | | | | | 4,936 | | | | | | 4,570 | | | | | | 5,662 | | |
| | |
As of March 31, 2024
|
| |||||||||||||||||||||
| | |
Actual
|
| |
As Adjusted
|
| ||||||||||||||||||
| | |
(In millions)
|
| |
(% of
Capitalization and Short-term Borrowings) |
| |
(In millions)
|
| |
(% of
Capitalization and Short-term Borrowings) |
| ||||||||||||
Short-term borrowings
|
| | | $ | 406 | | | | | | 4.0% | | | | | $ | | | | | | % | | | |
Long-term debt: | | | | | | | | | | | | | | | | | | | | | | | | | |
Long-term debt of BGE (including current portion)
|
| | | | 4,602 | | | | | | 43.0% | | | | | | | | | | | | % | | |
2034 notes
|
| | | | — | | | | | | — | | | | | | | | | | | | % | | |
2054 notes
|
| | | | — | | | | | | — | | | | | | | | | | | | % | | |
Total shareholder’s equity(1)
|
| | | | 5,662 | | | | | | 53.0% | | | | | | | | | | | | % | | |
Total capitalization and short-term borrowings
|
| | | $ | 10,670 | | | | | | 100.0% | | | | | $ | | | | | | 100.0% | | |
Underwriter
|
| |
Principal
Amount of 2034 Notes |
| |
Principal
Amount of 2054 Notes |
| ||||||
BNP Paribas Securities Corp.
|
| | | $ | | | | | $ | | | ||
MUFG Securities Americas Inc.
|
| | | | | | | | | | | | |
PNC Capital Markets LLC
|
| | | | | | | | | | | | |
SMBC Nikko Securities America, Inc.
|
| | | | | | | | | | | | |
Credit Agricole Securities (USA) Inc.
|
| | | | | | | | | | | | |
RBC Capital Markets, LLC
|
| | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Total
|
| | | $ | | | | | $ | | | |
| | |
Page
|
| |||
| | | | 1 | | | |
| | | | 1 | | | |
| | | | 2 | | | |
| | | | 2 | | | |
| | | | 3 | | | |
| | | | 3 | | | |
| | | | 3 | | | |
| | | | 3 | | | |
| | | | 5 | | | |
| | | | 5 | | | |
| | | | 5 | | | |
| | | | 6 | | |