Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
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Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
(a)The following documents are filed as a part of this report:
(1) Constellation Energy Corporation and Subsidiary Companies
| (i) | Financial Statements (Item 8): | |||||||
| Report of Independent Registered Public Accounting Firm dated February 24, 2026 of PricewaterhouseCoopers LLP (PCAOB ID 238) | ||||||||
| Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2025, 2024, and 2023 | ||||||||
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024, and 2023 | ||||||||
| Consolidated Balance Sheets at December 31, 2025 and 2024 | ||||||||
| Consolidated Statements of Changes in Equity for the Years Ended December 31, 2025, 2024, and 2023 | ||||||||
| Combined Notes to Consolidated Financial Statements | ||||||||
| (ii) | Financial Statement Schedule: | |||||||
| Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2025, 2024, and 2023 | ||||||||
| Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto |
Constellation Energy Corporation and Subsidiary Companies
Constellation Energy Generation, LLC and Subsidiary Companies
Schedule II – Valuation and Qualifying Accounts
| Additions and adjustments | ||||||||||||||||||||||||||||||||
| Description | Balance at Beginning of Period | Charged to Costs and Expenses | Charged to Other Accounts | Deductions | Balance at End of Period | |||||||||||||||||||||||||||
| (In millions) | ||||||||||||||||||||||||||||||||
| For the year ended December 31, 2025 | ||||||||||||||||||||||||||||||||
| Allowance for credit losses | $ | 196 | $ | 49 | $ | 1 | $ | (79) | (a) | $ | 167 | |||||||||||||||||||||
| Deferred tax valuation allowance | 3 | — | — | — | 3 | |||||||||||||||||||||||||||
| Reserve for obsolete materials | 238 | — | (1) | (22) | 215 | |||||||||||||||||||||||||||
| For the year ended December 31, 2024 | ||||||||||||||||||||||||||||||||
| Allowance for credit losses | $ | 61 | $ | 18 | $ | 138 | $ | (21) | (a) | $ | 196 | |||||||||||||||||||||
| Deferred tax valuation allowance | 10 | (7) | — | — | 3 | |||||||||||||||||||||||||||
| Reserve for obsolete materials | 246 | (4) | (4) | — | 238 | |||||||||||||||||||||||||||
| For the year ended December 31, 2023 | ||||||||||||||||||||||||||||||||
| Allowance for credit losses | $ | 51 | $ | 25 | $ | — | $ | (15) | (a) | $ | 61 | |||||||||||||||||||||
| Deferred tax valuation allowance | 11 | — | (1) | — | 10 | |||||||||||||||||||||||||||
| Reserve for obsolete materials | 238 | 8 | 9 | (9) | 246 |
(a)Write-offs, net of recoveries of individual accounts receivable.
(2) Constellation Energy Generation, LLC and Subsidiary Companies
| (i) | Financial Statements (Item 8): | |||||||
| Report of Independent Registered Public Accounting Firm dated February 24, 2026 of PricewaterhouseCoopers LLP (PCAOB ID 238) | ||||||||
| Consolidated Statements of Operations and Comprehensive Income for the Years Ended December 31, 2025, 2024, and 2023 | ||||||||
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024, and 2023 | ||||||||
| Consolidated Balance Sheets at December 31, 2025 and 2024 | ||||||||
| Consolidated Statements of Changes in Equity for the Years Ended December 31, 2025, 2024, and 2023 | ||||||||
| Combined Notes to Consolidated Financial Statements | ||||||||
| (ii) | Financial Statement Schedule: | |||||||
| Schedule II—Valuation and Qualifying Accounts for the Years Ended December 31, 2025, 2024, and 2023(a) | ||||||||
| Schedules not included are omitted because of the absence of conditions under which they are required or because the required information is provided in the consolidated financial statements, including the notes thereto |
(a)The Constellation Energy Generation, LLC Schedule II - Valuation and Qualifying Accounts for Years ended December 31, 2025, 2024, and 2023 is the same as the Constellation Energy Corporation Schedule II.
Exhibits required by Item 601 of Regulation S-K:
Certain of the following exhibits are incorporated herein by reference under Rule 12b-32 of the Exchange Act.
| (19) Insider trading policies and procedures | |||||
| 19.1 | Insider Trading Policy (File No. 001-41137, Form 10-K dated February 27, 2024, Exhibit 19.1) | ||||
| (21) Subsidiaries | |||||
| 21.1 | Constellation Energy Corporation | ||||
| 21.2 | Constellation Energy Generation, LLC | ||||
| (23) Consent of Independent Registered Public Accountants | |||||
| 23.1 | Constellation Energy Corporation | ||||
| 23.2 | Constellation Energy Generation, LLC | ||||
| (24) Power of Attorney (Constellation Energy Corporation) | |||||
| 24.1 | Yves C. de Balmann | ||||
| 24.2 | Bradley Halverson | ||||
| 24.3 | Charles Harrington | ||||
| 24.4 | Julie Holzrichter | ||||
| 24.5 | Ashish Khandpur | ||||
| 24.6 | Robert Lawless | ||||
| 24.7 | John Richardson | ||||
| 24.8 | Nneka Rimmer | ||||
| 24.9 | Dhiaa Jamil | ||||
| 24.10 | Eileen Paterson | ||||
| 24.11 | Alan Armstrong | ||||
| (97) Policy Relating to Recovery of Erroneously Awarded Compensation | |||||
| 97.1 | Compensation Clawback Policy for Executive Officers (File No. 001-41137, Form 10-K dated February 27, 2024, Exhibit 97.1) |
| Certifications Pursuant to Rule 13a-14(a) and 15d-14(a) of the Securities and Exchange Act of 1934 as to the Annual Report on Form 10-K for the year ended December 31, 2025 filed by the following officers for the following registrants: | |||||
| Exhibit No. | Description | ||||
| 31.1 | Filed by Joseph Dominguez for Constellation Energy Corporation | ||||
| 31.2 | Filed by Shane P. Smith for Constellation Energy Corporation | ||||
| 31.3 | Filed by Joseph Dominguez for Constellation Energy Generation, LLC | ||||
| 31.4 | Filed by Shane P. Smith for Constellation Energy Generation, LLC | ||||
| Certifications Pursuant to Section 1350 of Chapter 63 of Title 18 United States Code as to the Annual Report on Form 10-K for the year ended December 31, 2025 filed by the following officers for the following registrants: | |||||
| Exhibit No. | Description | ||||
| 32.1 | Filed by Joseph Dominguez for Constellation Energy Corporation | ||||
| 32.2 | Filed by Shane P. Smith for Constellation Energy Corporation | ||||
| 32.3 | Filed by Joseph Dominguez for Constellation Energy Generation, LLC | ||||
| 32.4 | Filed by Shane P. Smith for Constellation Energy Generation, LLC | ||||
| 101.INS | Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | ||||
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. | ||||
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | ||||
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. | ||||
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. | ||||
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | ||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
- Management contract or compensatory plan or arrangement.
** Filed herewith.
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