EXC · 10-Q · 2026Q3 · Full report

Income Tax Rate Changes

EXELON CORP · 2026-10-30 · Importance 41 · Surprise 56

ComEd’s effective income tax rate rose to 25.6% in the third quarter of 2026 from 18.2% in the third quarter of 2025, a 7.4 percentage-point increase. For the first nine months, ComEd’s rate increased to 25.1% from 18.2%, a 6.9 percentage-point increase. Separately, 2026 Treasury guidance allowed Exelon to seek amended 2023 and 2024 returns that reduced its corporate alternative minimum tax liability by $80 million, and Exelon received $235 million from Constellation related to reduced tax-credit needs.

Key facts

• Treasury guidance issued February 18, 2026 permits corporate taxpayers to deduct repair and maintenance costs when calculating CAMT liabilities and applies retroactively.
• Exelon received $235 million reimbursement from Constellation following a reduction in the tax credits needed to offset Exelon’s CAMT liability on amended returns.
• The retroactive CAMT guidance permits Exelon to file amended 2024 and 2023 returns to reduce its CAMT liability by $80 million.
• Exelon’s 2026 and 2025 marginal statutory income tax rates ranged from 24.0% to 29.0%.
• The CAMT guidance impact was recorded as of March 31, 2026.