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Consolidated Income Statement - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
OPERATING REVENUES      
Total operating revenues $ 12,574 $ 12,337 $ 12,033
OPERATING EXPENSES      
Depreciation and amortization 1,684 1,438 1,341
Taxes, other than income taxes 2,406 2,266 2,155
TOTAL OPERATING EXPENSES 9,898 9,804 9,260
Gain on sale of solar electric production project in 2017 0 0 1
Gain on acquisition of Sempra Solar Holdings, LLC 0 131 0
OPERATING INCOME 2,676 2,664 2,774
OTHER INCOME (DEDUCTIONS)      
Investment income 96 119 111
Other income 45 17 15
Allowance for equity funds used during construction 14 12 11
Other deductions (104) (210) (185)
TOTAL OTHER INCOME (DEDUCTIONS) 51 (62) (48)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 2,727 2,602 2,726
INTEREST EXPENSE      
Interest on long-term debt 888 780 726
Other interest 116 49 11
Allowance for borrowed funds used during construction (13) (10) (8)
NET INTEREST EXPENSE 991 819 729
INCOME BEFORE INCOME TAX EXPENSE 1,736 1,783 1,997
INCOME TAX EXPENSE 296 401 472
NET INCOME 1,440 1,382 1,525
Income attributable to non-controlling interest 97 0 0
NET INCOME FOR COMMON STOCK $ 1,343 $ 1,382 $ 1,525
Net income per common share — basic (in dollars per share) $ 4.09 $ 4.43 $ 4.97
Net income per common share — diluted (in dollars per share) $ 4.08 $ 4.42 $ 4.94
AVERAGE NUMBER OF SHARES OUTSTANDING — BASIC (in shares) 328.5 311.7 307.1
AVERAGE NUMBER OF SHARES OUTSTANDING — DILUTED (in shares) 329.5 312.9 308.8
CECONY      
OPERATING REVENUES      
Total operating revenues $ 10,821 $ 10,680 $ 10,468
OPERATING EXPENSES      
Depreciation and amortization 1,373 1,276 1,195
Taxes, other than income taxes 2,295 2,156 2,057
TOTAL OPERATING EXPENSES 8,473 8,326 7,919
OPERATING INCOME 2,348 2,354 2,549
OTHER INCOME (DEDUCTIONS)      
Investment income 40 13 14
Allowance for equity funds used during construction 12 11 10
Other deductions (87) (167) (161)
TOTAL OTHER INCOME (DEDUCTIONS) (35) (143) (137)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 2,313 2,211 2,412
INTEREST EXPENSE      
Interest on long-term debt 672 662 615
Other interest 67 36 14
Allowance for borrowed funds used during construction (11) (9) (6)
NET INTEREST EXPENSE 728 689 623
INCOME BEFORE INCOME TAX EXPENSE 1,585 1,522 1,789
INCOME TAX EXPENSE 335 326 685
NET INCOME FOR COMMON STOCK 1,250 1,196 1,104
Electric      
OPERATING REVENUES      
Total operating revenues 8,694 8,612 8,612
Electric | CECONY      
OPERATING REVENUES      
Total operating revenues 8,062 7,971 7,972
Gas      
OPERATING REVENUES      
Total operating revenues 2,391 2,327 2,133
OPERATING EXPENSES      
Operating costs 880 1,041 808
Gas | CECONY      
OPERATING REVENUES      
Total operating revenues 2,132 2,078 1,901
OPERATING EXPENSES      
Operating costs 606 643 510
Steam      
OPERATING REVENUES      
Total operating revenues 627 631 595
Steam | CECONY      
OPERATING REVENUES      
Total operating revenues 627 631 595
Non-utility      
OPERATING REVENUES      
Total operating revenues 862 767 693
Power      
OPERATING EXPENSES      
Operating costs 1,546 1,644 1,601
Power | CECONY      
OPERATING EXPENSES      
Operating costs 1,357 1,433 1,415
Fuel      
OPERATING EXPENSES      
Operating costs 207 263 216
Fuel | CECONY      
OPERATING EXPENSES      
Operating costs 207 263 216
Other operations and maintenance      
OPERATING EXPENSES      
Operating costs 3,175 3,152 3,139
Other operations and maintenance | CECONY      
OPERATING EXPENSES      
Operating costs $ 2,635 $ 2,555 $ 2,526