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Consolidated Income Statement (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
OPERATING REVENUES        
Total operating revenues $ 3,365 $ 3,328 $ 9,623 $ 9,388
OPERATING EXPENSES        
Depreciation and amortization 421 360 1,253 1,061
Taxes, other than income taxes 618 597 1,800 1,707
TOTAL OPERATING EXPENSES 2,498 2,502 7,512 7,381
OPERATING INCOME 867 826 2,111 2,007
OTHER INCOME (DEDUCTIONS)        
Investment and other income 25 39 70 96
Other income 10 7 26 18
Allowance for equity funds used during construction 4 4 11 11
Other deductions (25) (61) (76) (154)
TOTAL OTHER INCOME (DEDUCTIONS) 14 (11) 31 (29)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 881 815 2,142 1,978
INTEREST EXPENSE        
Interest on long-term debt 220 195 660 576
Other interest 45 13 122 28
Allowance for borrowed funds used during construction (3) (3) (10) (7)
NET INTEREST EXPENSE 262 205 772 597
INCOME BEFORE INCOME TAX EXPENSE 619 610 1,370 1,381
INCOME TAX EXPENSE 116 175 243 330
NET INCOME 503 435 1,127 1,051
Income attributable to non-controlling interest 30 0 79 0
NET INCOME FOR COMMON STOCK $ 473 $ 435 $ 1,048 $ 1,051
Net income per common share - basic (dollars per share) $ 1.42 $ 1.40 $ 3.20 $ 3.38
Net income per common share - diluted (dollars per share) $ 1.42 $ 1.39 $ 3.19 $ 3.37
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (shares) 332.2 311.1 327.3 310.8
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (shares) 333.2 312.3 328.3 311.9
Electric        
OPERATING REVENUES        
Total operating revenues $ 2,753 $ 2,783 $ 6,665 $ 6,611
Gas        
OPERATING REVENUES        
Total operating revenues 306 298 1,790 1,726
OPERATING EXPENSES        
Operating costs 98 164 671 736
Steam        
OPERATING REVENUES        
Total operating revenues 58 64 469 474
Non-utility        
OPERATING REVENUES        
Total operating revenues 248 183 699 577
Power        
OPERATING EXPENSES        
Operating costs 483 545 1,203 1,287
Fuel        
OPERATING EXPENSES        
Operating costs 31 39 163 201
Other operations and maintenance        
OPERATING EXPENSES        
Operating costs 847 797 2,422 2,389
CECONY        
OPERATING REVENUES        
Total operating revenues 2,877 2,899 8,248 8,121
OPERATING EXPENSES        
Depreciation and amortization 346 322 1,020 949
Taxes, other than income taxes 590 570 1,715 1,621
TOTAL OPERATING EXPENSES 2,154 2,135 6,423 6,271
OPERATING INCOME 723 764 1,825 1,850
OTHER INCOME (DEDUCTIONS)        
Investment and other income 10 6 23 14
Allowance for equity funds used during construction 3 4 9 10
Other deductions (22) (43) (63) (123)
TOTAL OTHER INCOME (DEDUCTIONS) (9) (33) (31) (99)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 714 731 1,794 1,751
INTEREST EXPENSE        
Interest on long-term debt 168 167 501 492
Other interest 16 10 52 23
Allowance for borrowed funds used during construction (3) (2) (8) (7)
NET INTEREST EXPENSE 181 175 545 508
INCOME BEFORE INCOME TAX EXPENSE 533 556 1,249 1,243
INCOME TAX EXPENSE 119 125 271 274
NET INCOME FOR COMMON STOCK 414 431 978 969
CECONY | Electric        
OPERATING REVENUES        
Total operating revenues 2,544 2,571 6,174 6,107
CECONY | Gas        
OPERATING REVENUES        
Total operating revenues 275 264 1,605 1,540
OPERATING EXPENSES        
Operating costs 52 66 445 457
CECONY | Steam        
OPERATING REVENUES        
Total operating revenues 58 64 469 474
CECONY | Power        
OPERATING EXPENSES        
Operating costs 423 472 1,058 1,117
CECONY | Fuel        
OPERATING EXPENSES        
Operating costs 31 39 163 201
CECONY | Other operations and maintenance        
OPERATING EXPENSES        
Operating costs $ 712 $ 666 $ 2,022 $ 1,926