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Consolidated Income Statement (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
OPERATING REVENUES        
Electric $ 1,965 $ 2,035 $ 3,899 $ 3,947
Gas 435 336 1,297 1,012
Steam 88 85 385 343
Non-utility 145 338 280 648
TOTAL OPERATING REVENUES 2,633 2,794 5,861 5,950
OPERATING EXPENSES        
Purchased power 408 558 793 1,249
Fuel 38 33 139 104
Gas purchased for resale 149 81 470 239
Other operations and maintenance 773 820 1,553 1,607
Depreciation and amortization 332 302 662 599
Taxes, other than income taxes 511 485 1,052 995
TOTAL OPERATING EXPENSES 2,211 2,279 4,669 4,793
Gain on sale of solar electric production project 1 0 1 0
OPERATING INCOME 423 515 1,193 1,157
OTHER INCOME (DEDUCTIONS)        
Investment income 20 7 39 7
Other income 17 8 23 12
Allowance for equity funds used during construction 2 2 5 4
Other deductions (5) (6) (7) (11)
TOTAL OTHER INCOME 34 11 60 12
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 457 526 1,253 1,169
INTEREST EXPENSE        
Interest on long-term debt 179 167 356 330
Other interest 3 5 7 12
Allowance for borrowed funds used during construction (2) (2) (3) (3)
NET INTEREST EXPENSE 180 170 360 339
INCOME BEFORE INCOME TAX EXPENSE 277 356 893 830
INCOME TAX EXPENSE 102 124 330 288
NET INCOME $ 175 $ 232 $ 563 $ 542
Net income per common share-basic (dollars per share) $ 0.57 $ 0.78 $ 1.84 $ 1.83
Net income per common share-diluted (dollars per share) 0.57 0.77 1.84 1.82
DIVIDENDS DECLARED PER COMMON SHARE (dollars per share) $ 0.69 $ 0.67 $ 1.38 $ 1.34
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (IN MILLIONS) (shares) 305.4 299.1 305.3 296.7
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (IN MILLIONS) (shares) 306.8 300.4 306.7 298.0
CECONY        
OPERATING REVENUES        
Electric $ 1,817 $ 1,892 $ 3,610 $ 3,665
Gas 388 304 1,153 905
Steam 88 85 386 343
TOTAL OPERATING REVENUES 2,293 2,281 5,149 4,913
OPERATING EXPENSES        
Purchased power 363 369 710 721
Fuel 38 33 139 104
Gas purchased for resale 84 51 314 183
Other operations and maintenance 638 701 1,301 1,381
Depreciation and amortization 296 275 591 547
Taxes, other than income taxes 487 460 1,003 944
TOTAL OPERATING EXPENSES 1,906 1,889 4,058 3,880
OPERATING INCOME 387 392 1,091 1,033
OTHER INCOME (DEDUCTIONS)        
Investment income 3 1 7 2
Allowance for equity funds used during construction 2 2 5 4
Other deductions (4) (1) (6) (6)
TOTAL OTHER INCOME 1 2 6 0
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 388 394 1,097 1,033
INTEREST EXPENSE        
Interest on long-term debt 151 146 301 290
Other interest 4 4 8 9
Allowance for borrowed funds used during construction (1) (1) (3) (2)
NET INTEREST EXPENSE 154 149 306 297
INCOME BEFORE INCOME TAX EXPENSE 234 245 791 736
INCOME TAX EXPENSE 91 84 309 264
NET INCOME $ 143 $ 161 $ 482 $ 472