One of the key aspects we explore is the concept of the bonding characteristics, namely covalency, atomicity, and ionicity, within the context of molecular dissociation. By examining the bonding factors as a function of interatomic distance, we provide an insight into the nature of chemical bonding and the evolution between different physical regimes. The analysis is based on the exact solutions of the extended Heitler-London model, allowing us to rigorously quantify the contributions of kinetic exchange inter-actions and effective Coulomb interactions to the overall bonding. Furthermore, we extend our investigation to the excited states of hydrogen molecules and discuss how they compare to the ground state.