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Consolidated Income Statement - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
OPERATING REVENUES      
Total operating revenues $ 12,337 $ 12,033 $ 12,075
OPERATING EXPENSES      
Depreciation and amortization 1,438 1,341 1,216
Taxes, other than income taxes 2,266 2,155 2,031
TOTAL OPERATING EXPENSES 9,804 9,260 9,399
Gain on sale of solar electric production project in 2017 and retail electric supply business in 2016 0 1 104
Gain on acquisition of Sempra Solar Holdings, LLC 131 0 0
OPERATING INCOME 2,664 2,774 2,780
OTHER INCOME (DEDUCTIONS)      
Investment income 119 111 75
Other income 17 15 16
Allowance for equity funds used during construction 12 11 10
Other deductions (210) (185) (242)
TOTAL OTHER INCOME (62) (48) (141)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 2,602 2,726 2,639
INTEREST EXPENSE      
Interest on long-term debt 780 726 678
Other interest 49 11 24
Allowance for borrowed funds used during construction (10) (8) (6)
NET INTEREST EXPENSE 819 729 696
INCOME BEFORE INCOME TAX EXPENSE 1,783 1,997 1,943
INCOME TAX EXPENSE 401 472 698
NET INCOME $ 1,382 $ 1,525 $ 1,245
Net income per common share — basic (in dollars per share) $ 4.43 $ 4.97 $ 4.15
Net income per common share — diluted (in dollars per share) $ 4.42 $ 4.94 $ 4.12
AVERAGE NUMBER OF SHARES OUTSTANDING — BASIC (in shares) 311.7 307.1 300.4
AVERAGE NUMBER OF SHARES OUTSTANDING — DILUTED (in shares) 312.9 308.8 301.9
CECONY      
OPERATING REVENUES      
Total operating revenues $ 10,680 $ 10,468 $ 10,165
OPERATING EXPENSES      
Depreciation and amortization 1,276 1,195 1,106
Taxes, other than income taxes 2,156 2,057 1,932
TOTAL OPERATING EXPENSES 8,326 7,919 7,714
OPERATING INCOME 2,354 2,549 2,451
OTHER INCOME (DEDUCTIONS)      
Investment income 13 14 8
Allowance for equity funds used during construction 11 10 8
Other deductions (167) (161) (205)
TOTAL OTHER INCOME (143) (137) (189)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 2,211 2,412 2,262
INTEREST EXPENSE      
Interest on long-term debt 662 615 588
Other interest 36 14 19
Allowance for borrowed funds used during construction (9) (6) (4)
NET INTEREST EXPENSE 689 623 603
INCOME BEFORE INCOME TAX EXPENSE 1,522 1,789 1,659
INCOME TAX EXPENSE 326 685 603
NET INCOME 1,196 1,104 1,056
Electric      
OPERATING REVENUES      
Total operating revenues 8,612 8,612 8,741
Electric | CECONY      
OPERATING REVENUES      
Total operating revenues 7,971 7,972 8,106
Gas      
OPERATING REVENUES      
Total operating revenues 2,327 2,133 1,692
OPERATING EXPENSES      
Operating costs 1,041 808 477
Gas | CECONY      
OPERATING REVENUES      
Total operating revenues 2,078 1,901 1,508
OPERATING EXPENSES      
Operating costs 643 510 319
Steam      
OPERATING REVENUES      
Total operating revenues 631 595 551
Steam | CECONY      
OPERATING REVENUES      
Total operating revenues 631 595 551
Non-utility      
OPERATING REVENUES      
Total operating revenues 767 693 1,091
Power      
OPERATING EXPENSES      
Operating costs 1,644 1,601 2,439
Power | CECONY      
OPERATING EXPENSES      
Operating costs 1,433 1,415 1,568
Fuel      
OPERATING EXPENSES      
Operating costs 263 216 172
Fuel | CECONY      
OPERATING EXPENSES      
Operating costs 263 216 172
Other operations and maintenance      
OPERATING EXPENSES      
Operating costs 3,152 3,139 3,064
Other operations and maintenance | CECONY      
OPERATING EXPENSES      
Operating costs $ 2,555 $ 2,526 $ 2,617