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Consolidated Income Statement (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
OPERATING REVENUES        
Electric $ 2,035 $ 2,040 $ 3,947 $ 4,175
Gas 336 324 1,012 1,056
Steam 85 96 343 471
Non-utility 338 328 648 702
TOTAL OPERATING REVENUES 2,794 2,788 5,950 6,404
OPERATING EXPENSES        
Purchased power 558 660 1,249 1,544
Fuel 33 31 104 185
Gas purchased for resale 81 89 239 351
Other operations and maintenance 820 802 1,607 1,616
Depreciation and amortization 302 276 599 555
Taxes, other than income taxes 485 458 995 955
TOTAL OPERATING EXPENSES 2,279 2,316 4,793 5,206
OPERATING INCOME 515 472 1,157 1,198
OTHER INCOME (DEDUCTIONS)        
Investment and other income 15 14 19 19
Allowance for equity funds used during construction 2 1 4 2
Other deductions (6) (5) (11) (7)
TOTAL OTHER INCOME (DEDUCTIONS) 11 10 12 14
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 526 482 1,169 1,212
INTEREST EXPENSE        
Interest on long-term debt 167 156 330 311
Other interest 5 7 12 13
Allowance for borrowed funds used during construction (2) (1) (3) (1)
NET INTEREST EXPENSE 170 162 339 323
INCOME BEFORE INCOME TAX EXPENSE 356 320 830 889
INCOME TAX EXPENSE 124 101 288 300
NET INCOME $ 232 $ 219 $ 542 $ 589
Net income per common share-basic (dollars per share) $ 0.78 $ 0.75 $ 1.83 $ 2.01
Net income per common share-diluted (dollars per share) 0.77 0.74 1.82 2.01
DIVIDENDS DECLARED PER COMMON SHARE (dollars per share) $ 0.67 $ 0.65 $ 1.34 $ 1.30
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (IN MILLIONS) (shares) 299.1 292.9 296.7 292.9
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (IN MILLIONS) (shares) 300.4 294.0 298.0 293.9
CECONY        
OPERATING REVENUES        
Electric $ 1,892 $ 1,879 $ 3,665 $ 3,858
Gas 304 308 905 963
Steam 85 96 343 471
TOTAL OPERATING REVENUES 2,281 2,283 4,913 5,292
OPERATING EXPENSES        
Purchased power 369 358 721 897
Fuel 33 31 104 185
Gas purchased for resale 51 54 183 252
Other operations and maintenance 701 687 1,381 1,390
Depreciation and amortization 275 254 547 511
Taxes, other than income taxes 460 439 944 914
TOTAL OPERATING EXPENSES 1,889 1,823 3,880 4,149
OPERATING INCOME 392 460 1,033 1,143
OTHER INCOME (DEDUCTIONS)        
Investment and other income 1 2 2 3
Allowance for equity funds used during construction 2 1 4 2
Other deductions (1) (5) (6) (6)
TOTAL OTHER INCOME (DEDUCTIONS) 2 (2) 0 (1)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 394 458 1,033 1,142
INTEREST EXPENSE        
Interest on long-term debt 146 141 290 282
Other interest 4 5 9 9
Allowance for borrowed funds used during construction (1) 0 (2) (1)
NET INTEREST EXPENSE 149 146 297 290
INCOME BEFORE INCOME TAX EXPENSE 245 312 736 852
INCOME TAX EXPENSE 84 101 264 293
NET INCOME $ 161 $ 211 $ 472 $ 559