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Consolidated Income Statement (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
OPERATING REVENUES        
Total operating revenues $ 3,328 $ 3,211 $ 9,388 $ 9,072
OPERATING EXPENSES        
Depreciation and amortization 360 337 1,061 998
Taxes, other than income taxes 597 544 1,707 1,597
TOTAL OPERATING EXPENSES 2,502 2,297 7,381 6,884
Gain on sale of solar electric production project 0 0 0 1
OPERATING INCOME 826 914 2,007 2,189
OTHER INCOME (DEDUCTIONS)        
Investment income 39 37 96 90
Other income 7 3 18 12
Allowance for equity funds used during construction 4 3 11 8
Other deductions (61) (45) (154) (135)
TOTAL OTHER INCOME (DEDUCTIONS) (11) (2) (29) (25)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 815 912 1,978 2,164
INTEREST EXPENSE        
Interest on long-term debt 195 183 576 539
Other interest 13 4 28 11
Allowance for borrowed funds used during construction (3) (2) (7) (5)
NET INTEREST EXPENSE 205 185 597 545
INCOME BEFORE INCOME TAX EXPENSE 610 727 1,381 1,619
INCOME TAX EXPENSE 175 270 330 599
NET INCOME $ 435 $ 457 $ 1,051 $ 1,020
Net income per common share - basic (dollars per share) $ 1.40 $ 1.48 $ 3.38 $ 3.33
Net income per common share - diluted (dollars per share) 1.39 1.48 3.37 3.31
DIVIDENDS DECLARED PER COMMON SHARE (dollars per share) $ 0.72 $ 0.69 $ 2.15 $ 2.07
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (shares) 311.1 307.8 310.8 306.2
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (shares) 312.3 309.3 311.9 307.7
Electric        
OPERATING REVENUES        
Total operating revenues $ 2,783 $ 2,675 $ 6,611 $ 6,573
Gas        
OPERATING REVENUES        
Total operating revenues 298 296 1,726 1,593
OPERATING EXPENSES        
Operating costs 164 115 736 584
Steam        
OPERATING REVENUES        
Total operating revenues 64 62 474 448
Non-utility        
OPERATING REVENUES        
Total operating revenues 183 178 577 458
Power        
OPERATING EXPENSES        
Operating costs 545 460 1,287 1,253
Fuel        
OPERATING EXPENSES        
Operating costs 39 30 201 169
Other operations and maintenance        
OPERATING EXPENSES        
Operating costs 797 811 2,389 2,283
CECONY        
OPERATING REVENUES        
Total operating revenues 2,899 2,799 8,121 7,948
OPERATING EXPENSES        
Depreciation and amortization 322 300 949 891
Taxes, other than income taxes 570 520 1,621 1,523
TOTAL OPERATING EXPENSES 2,135 1,963 6,271 5,949
OPERATING INCOME 764 836 1,850 1,999
OTHER INCOME (DEDUCTIONS)        
Investment income 6 2 14 9
Allowance for equity funds used during construction 4 3 10 7
Other deductions (43) (41) (123) (118)
TOTAL OTHER INCOME (DEDUCTIONS) (33) (36) (99) (102)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 731 800 1,751 1,897
INTEREST EXPENSE        
Interest on long-term debt 167 155 492 456
Other interest 10 4 23 11
Allowance for borrowed funds used during construction (2) (2) (7) (4)
NET INTEREST EXPENSE 175 157 508 463
INCOME BEFORE INCOME TAX EXPENSE 556 643 1,243 1,434
INCOME TAX EXPENSE 125 242 274 551
NET INCOME 431 401 969 883
CECONY | Electric        
OPERATING REVENUES        
Total operating revenues 2,571 2,469 6,107 6,079
CECONY | Gas        
OPERATING REVENUES        
Total operating revenues 264 268 1,540 1,421
OPERATING EXPENSES        
Operating costs 66 58 457 372
CECONY | Steam        
OPERATING REVENUES        
Total operating revenues 64 62 474 448
CECONY | Power        
OPERATING EXPENSES        
Operating costs 472 400 1,117 1,110
CECONY | Fuel        
OPERATING EXPENSES        
Operating costs 39 30 201 169
CECONY | Other operations and maintenance        
OPERATING EXPENSES        
Operating costs $ 666 $ 655 $ 1,926 $ 1,884