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Consolidated Income Statement (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
OPERATING REVENUES        
Electric $ 2,769 $ 2,762 $ 6,717 $ 6,937
Gas 235 237 1,246 1,293
Steam 63 58 406 529
Non-utility 350 386 999 1,088
TOTAL OPERATING REVENUES 3,417 3,443 9,368 9,847
OPERATING EXPENSES        
Purchased power 798 860 2,047 2,404
Fuel 29 31 133 216
Gas purchased for resale 81 64 320 415
Other operations and maintenance 840 869 2,447 2,485
Depreciation and amortization 305 285 905 840
Taxes, other than income taxes 528 504 1,523 1,459
TOTAL OPERATING EXPENSES 2,581 2,613 7,375 7,819
Gain on sale of retail electric supply business 104 0 104 0
OPERATING INCOME 940 830 2,097 2,028
OTHER INCOME (DEDUCTIONS)        
Investment and other income 51 12 70 31
Allowance for equity funds used during construction 3 1 7 3
Other deductions (5) (4) (16) (11)
TOTAL OTHER INCOME (DEDUCTIONS) 49 9 61 23
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 989 839 2,158 2,051
INTEREST EXPENSE        
Interest on long-term debt 174 157 504 469
Other interest 5 6 17 19
Allowance for borrowed funds used during construction (1) (1) (4) (2)
NET INTEREST EXPENSE 178 162 517 486
INCOME BEFORE INCOME TAX EXPENSE 811 677 1,641 1,565
INCOME TAX EXPENSE 314 249 602 548
NET INCOME $ 497 $ 428 $ 1,039 $ 1,017
Net income per common share-basic (dollars per share) $ 1.63 $ 1.46 $ 3.47 $ 3.47
Net income per common share-diluted (dollars per share) 1.62 1.45 3.46 3.46
DIVIDENDS DECLARED PER COMMON SHARE (dollars per share) $ 0.67 $ 0.65 $ 2.01 $ 1.95
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (IN MILLIONS) (shares) 304.5 292.9 299.1 292.9
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (IN MILLIONS) (shares) 305.9 294.2 300.5 294.2
CECONY        
OPERATING REVENUES        
Electric $ 2,557 $ 2,558 $ 6,222 $ 6,416
Gas 208 213 1,113 1,177
Steam 63 58 406 529
TOTAL OPERATING REVENUES 2,828 2,829 7,741 8,122
OPERATING EXPENSES        
Purchased power 495 526 1,216 1,423
Fuel 29 31 133 216
Gas purchased for resale 34 30 217 282
Other operations and maintenance 724 750 2,105 2,140
Depreciation and amortization 278 262 825 773
Taxes, other than income taxes 502 485 1,446 1,399
TOTAL OPERATING EXPENSES 2,062 2,084 5,942 6,233
OPERATING INCOME 766 745 1,799 1,889
OTHER INCOME (DEDUCTIONS)        
Investment and other income 4 (1) 6 3
Allowance for equity funds used during construction 2 1 6 3
Other deductions (4) (3) (10) (10)
TOTAL OTHER INCOME (DEDUCTIONS) 2 (3) 2 (4)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 768 742 1,801 1,885
INTEREST EXPENSE        
Interest on long-term debt 150 141 440 423
Other interest 5 5 14 14
Allowance for borrowed funds used during construction (1) (1) (3) (2)
NET INTEREST EXPENSE 154 145 451 435
INCOME BEFORE INCOME TAX EXPENSE 614 597 1,350 1,450
INCOME TAX EXPENSE 226 222 491 515
NET INCOME $ 388 $ 375 $ 859 $ 935