Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents, for the three and six months ended June 30, 2023 and 2022, revenue from contracts with customers as defined in Accounting Standards Codification Topic 606, "Revenue from Contracts with Customers," as well as additional revenue from sources other than contracts with customers, disaggregated by major source.

	For the Three Months Ended June 30, 2023			For the Three Months Ended June 30, 2022
(Millions of Dollars)	Revenues from contracts with customers	Other revenues (a)	Total operating revenues	Revenues from contracts with customers	Other revenues (a)	Total operating revenues
CECONY
Electric	$1,991	$153	$2,144	$2,255	$(15)	$2,240
Gas	521	10	531	571	11	582
Steam	65	4	69	82	2	84
Total CECONY	$2,577	$167	$2,744	$2,908	$(2)	$2,906
O&R
Electric	154	5	159	175	2	177
Gas	41	—	41	65	(4)	61
Total O&R	$195	$5	$200	$240	$(2)	$238
Clean Energy Businesses (c)
Renewables	—	—	—	199	—	199
Energy services	—	—	—	25	—	25
Develop/Transfer Projects	—	—	—	8	—	8
Other	—	—	—	—	40	40
Total Clean Energy Businesses	$—	$—	$—	$232	$40	$272
Con Edison Transmission	1	—	1	1	—	1
Other (b)	—	(1)	(1)	—	(2)	(2)
Total Con Edison	$2,773	$171	$2,944	$3,381	$34	$3,415

(a) For the Utilities, this includes primarily revenue or negative revenue adjustments from alternative revenue programs, such as the revenue decoupling mechanisms under their NY electric and gas rate plans (see "Rate Plans" in Note B). For the Clean Energy Businesses, this includes revenue from wholesale services. On March 1, 2023, Con Edison completed the sale of substantially all of the assets of the Clean Energy Businesses. See Note S and Note T.

(b)    Other includes the parent company, Con Edison's tax equity investments, the deferred project held for sale and consolidated adjustments. See Note T.

(c) On March 1, 2023, Con Edison completed the sale of substantially all of the assets of the Clean Energy Businesses. See Note S and Note T.

	For the Six Months Ended June 30, 2023			For the Six Months Ended June 30, 2022
(Millions of Dollars)	Revenues from contracts with customers	Other revenues (a)	Total operating revenues	Revenues from contracts with customers	Other revenues (a)	Total operating revenues
CECONY
Electric	$4,254	$246	$4,500	$4,360	$(36)	$4,324
Gas	1,779	43	1,822	1,681	32	1,713
Steam	368	7	375	381	5	386
Total CECONY	$6,401	$296	$6,697	$6,422	$1	$6,423
O&R
Electric	$332	$9	$341	$339	$3	$342
Gas	179	1	180	188	(8)	180
Total O&R	$511	$10	$521	$527	$(5)	$522
Clean Energy Businesses (c)
Renewables	$68	$—	$68	$327	$—	$327
Energy services	7	—	7	44	—	44
Develop/Transfer Projects	7	—	7	19	—	19
Other	—	47	47	—	142	142
Total Clean Energy Businesses	$82	$47	$129	$390	$142	$532
Con Edison Transmission	$2	$—	$2	$2	—	$2
Other (b)	—	(2)	(2)	—	(4)	(4)
Total Con Edison	$6,996	$351	$7,347	$7,341	$134	$7,475

(a) For the Utilities, this includes primarily revenue or negative revenue adjustments from alternative revenue programs, such as the revenue decoupling mechanisms under their NY electric and gas rate plans (see "Rate Plans" in Note B). For the Clean Energy Businesses, this includes revenue from wholesale services. On March 1, 2023, Con Edison completed the sale of substantially all of the assets of the Clean Energy Businesses. See Note S and Note T.

(b)    Other includes the parent company, Con Edison's tax equity investments, the deferred project held for sale and consolidated adjustments. See Note T.

(c) On March 1, 2023, Con Edison completed the sale of substantially all of the assets of the Clean Energy Businesses. See Note S and Note T.

Change in Unbilled Contract and Unearned Revenues

	2023				2022
(Millions of Dollars)	Unbilled contract revenue (a)		Unearned revenue (b)		Unbilled contract revenue (a)	Unearned revenue (b)
Beginning balance as of January 1,	$80		$3		$35	$7
Additions (c)	2		—		48	—
Subtractions (c)	67		3	(d)	62	4	(d)
Ending balance as of June 30,	$15	(e)	$—		$21	$3

(a)Unbilled contract revenue represents accumulated incurred costs and earned profits on contracts (revenue arrangements), that have been recorded as revenue, but have not yet been billed to customers, and which represent contract assets as defined in Topic 606. Substantially all accrued unbilled contract revenue is expected to be collected within one year. Unbilled contract revenue arises from the cost-to-cost method of revenue recognition. Unbilled contract revenue from fixed-price type contracts is converted to billed receivables when amounts are invoiced to customers according to contractual billing terms, that generally occur when deliveries or other performance milestones are completed.

(b)Unearned revenue represents a liability for billings to customers in excess of earned revenue, that are contract liabilities as defined in Topic 606.

(c)Additions for unbilled contract revenue and subtractions for unearned revenue represent additional revenue earned. Additions for unearned revenue and subtractions for unbilled contract revenue represent billings. Activity also includes appropriate balance sheet classification for the period. Of the subtractions in 2023, $21 million and $1 million relate to the sale of the Clean Energy Businesses for unbilled contract revenue and unearned revenue, respectively.

(d)Of the subtractions from unearned revenue, $3 million and $4 million were included in the balances as of January 1, 2023 and 2022, respectively.

(e)Following the sale of the Clean Energy Businesses, Con Edison remains entitled to certain unbilled contract revenue, net of certain costs incurred, for a battery storage project located in Imperial County, California. See Note S.