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Consolidated Income Statement - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
OPERATING REVENUES      
Electric $ 8,612 $ 8,741 $ 8,832
Gas 2,133 1,692 1,709
Steam 595 551 629
Non-utility 693 1,091 1,384
TOTAL OPERATING REVENUES 12,033 12,075 12,554
OPERATING EXPENSES      
Purchased power 1,601 2,439 2,973
Fuel 216 172 248
Gas purchased for resale 808 477 495
Other operations and maintenance 3,303 3,269 3,344
Depreciation and amortization 1,341 1,216 1,130
Taxes, other than income taxes 2,155 2,031 1,937
TOTAL OPERATING EXPENSES 9,424 9,604 10,127
Gain on sale of retail electric supply business and solar electric production projects 1 104 0
OPERATING INCOME 2,610 2,575 2,427
OTHER INCOME (DEDUCTIONS)      
Investment income 79 47 0
Other income 47 44 35
Allowance for equity funds used during construction 11 10 5
Other deductions (21) (37) (16)
TOTAL OTHER INCOME 116 64 24
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 2,726 2,639 2,451
INTEREST EXPENSE      
Interest on long-term debt 726 678 632
Other interest 11 24 24
Allowance for borrowed funds used during construction (8) (6) (3)
NET INTEREST EXPENSE 729 696 653
INCOME BEFORE INCOME TAX EXPENSE 1,997 1,943 1,798
INCOME TAX EXPENSE 472 698 605
NET INCOME $ 1,525 $ 1,245 $ 1,193
Net income per common share — basic (dollars per share) $ 4.97 $ 4.15 $ 4.07
Net income per common share — diluted (dollars per share) 4.94 4.12 4.05
DIVIDENDS DECLARED PER COMMON SHARE (dollars per share) $ 2.76 $ 2.68 $ 2.60
AVERAGE NUMBER OF SHARES OUTSTANDING — BASIC 307.1 300.4 293.0
AVERAGE NUMBER OF SHARES OUTSTANDING — DILUTED 308.8 301.9 294.4
CECONY      
OPERATING REVENUES      
Electric $ 7,972 $ 8,106 $ 8,172
Gas 1,901 1,508 1,527
Steam 595 551 629
TOTAL OPERATING REVENUES 10,468 10,165 10,328
OPERATING EXPENSES      
Purchased power 1,415 1,568 1,719
Fuel 216 172 248
Gas purchased for resale 510 319 337
Other operations and maintenance 2,670 2,806 2,881
Depreciation and amortization 1,195 1,106 1,040
Taxes, other than income taxes 2,057 1,932 1,856
TOTAL OPERATING EXPENSES 8,063 7,903 8,081
OPERATING INCOME 2,405 2,262 2,247
OTHER INCOME (DEDUCTIONS)      
Investment income 14 8 5
Allowance for equity funds used during construction 10 8 4
Other deductions (17) (16) (14)
TOTAL OTHER INCOME 7 0 (5)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 2,412 2,262 2,242
INTEREST EXPENSE      
Interest on long-term debt 615 588 567
Other interest 14 19 19
Allowance for borrowed funds used during construction (6) (4) (2)
NET INTEREST EXPENSE 623 603 584
INCOME BEFORE INCOME TAX EXPENSE 1,789 1,659 1,658
INCOME TAX EXPENSE 685 603 574
NET INCOME $ 1,104 $ 1,056 $ 1,084