Financial Information by Business Segment

12 Months Ended

Dec. 31, 2019

Financial Information by Business Segment

The business segments of each of the Companies, which are its operating segments, were determined based on management’s reporting and decision-making requirements in accordance with the accounting rules for segment reporting.

Con Edison’s principal business segments are CECONY’s regulated utility activities, O&R’s regulated utility activities, the Clean Energy Businesses and Con Edison Transmission. CECONY’s principal business segments are its regulated electric, gas and steam utility activities.

All revenues of these business segments are from customers located in the United States of America. Also, all assets of the business segments are located in the United States of America. The accounting policies of the segments are the same as those described in Note A.

Common services shared by the business segments are assigned directly or allocated based on various cost factors, depending on the nature of the service provided.

The financial data for the business segments are as follows:



As of and for the Year Ended December 31, 2019 (Millions of Dollars)	Operating revenues	Inter- segment revenues		Depreciation and amortization	Operating income	Other Income (deductions)	Interest charges	Income taxes on operating income (a)	Total assets	Capital expenditures
CECONY
Electric	$8,062	$17		$1,053	$1,758	$(28)	$539	$239	$32,988	$1,851
Gas	2,132	7		231	528	(4)	147	99	11,090	1,078
Steam	627	70		89	62	(3)	42	4	2,479	91
Consolidation adjustments	—	(94)		—	—	—	—	—	—	—
Total CECONY	$10,821		$—	$1,373	$2,348	($35)	$728	$342	$46,557	$3,020
O&R
Electric	$634		$—	$60	$98	$(7)	$27	$15	$2,130	$142
Gas	259	—		24	41	(4)	14	6	876	61
Other	—	—		—	—	—	—	—	—	—
Total O&R	$893		$—	$84	$139	$(11)	$41	$21	$3,006	$203
Clean Energy Businesses	$857		$—	$226	$202	$5	$186	$(58)	$6,528	$248
Con Edison Transmission	4	—		1	(6)	104	25	1	1,618	205
Other (b)	(1)	—		—	(7)	(12)	11	(6)	370	—
Total Con Edison	$12,574		$—	$1,684	$2,676	$51	$991	$300	$58,079	$3,676



As of and for the Year Ended December 31, 2018 (Millions of Dollars)	Operating revenues	Inter- segment revenues		Depreciation and amortization	Operating income	Other Income (deductions)	Interest charges	Income taxes on operating income (a)	Total assets	Capital expenditures
CECONY
Electric	$7,971	$16		$984	$1,799	$(110)	$519	$233	$31,012	$1,861
Gas	2,078	7		205	478	(23)	131	87	9,710	1,050
Steam	631	75		87	77	(10)	39	8	2,386	94
Consolidation adjustments	—	(98)		—	—	—	—	—	—	—
Total CECONY	$10,680		$—	$1,276	$2,354	$(143)	$689	$328	$43,108	$3,005
O&R
Electric	$642		$—	$56	$93	$(14)	$25	$14	$2,036	$138
Gas	249	—		21	39	(5)	14	7	856	67
Other	—	—		—	—	—	—	—	—	—
Total O&R	$891		$—	$77	$132	$(19)	$39	$21	$2,892	$205
Clean Energy Businesses	$763		$—	$85	$194	$33	$63	$19	$5,821	$1,791
Con Edison Transmission	4	—		1	(7)	91	20	(1)	1,425	248
Other (b)	(1)	—		(1)	(9)	(24)	8	39	674	—
Total Con Edison	$12,337		$—	$1,438	$2,664	$(62)	$819	$406	$53,920	$5,249



As of and for the Year Ended December 31, 2017 (Millions of Dollars)	Operating revenues	Inter- segment revenues		Depreciation and amortization	Operating income	Other Income (deductions)	Interest charges	Income taxes on operating income (a)	Total assets	Capital expenditures
CECONY
Electric	$7,972	$16		$925	$1,974	$(105)	$472	$511	$29,661	$1,905
Gas	1,901	6		185	495	(23)	113	152	8,387	909
Steam	595	75		85	80	(9)	38	25	2,403	90
Consolidation adjustments	—	(97)		—	—	—	—	—	—	—
Total CECONY	$10,468		$—	$1,195	$2,549	$(137)	$623	$688	$40,451	$2,904
O&R
Electric	$642		$—	$51	$115	$(14)	$24	$30	$1,949	$128
Gas	232	—		20	46	(5)	12	12	824	61
Other	—	—		—	—	—	—	—	—	—
Total O&R	$874		$—	$71	$161	$(19)	$36	$42	$2,773	$189
Clean Energy Businesses	$694		$—	$74	$69	$33	$43	$(273)	$2,735	$447
Con Edison Transmission	2	—		1	(8)	80	16	(11)	1,222	66
Other (b)	(5)	—		—	3	(5)	11	13	930	—
Total Con Edison	$12,033		$—	$1,341	$2,774	$(48)	$729	$459	$48,111	$3,606

(a)

For Con Edison, the income tax expense/(benefit) on non-operating income was $(4) million, $(5) million and $13 million in 2019, 2018 and 2017, respectively. For CECONY, the income tax expense/(benefit) on non-operating income was $(7) million, $(2) million and $(3) million in 2019, 2018 and 2017, respectively. At December 31, 2017, Con Edison re-measured its deferred tax assets and liabilities based upon the 21 percent corporate income tax rate under the TCJA. As a result, Con Edison, decreased its federal income tax expense by $259 million ($269 million, $11 million and $(21) million, respectively, for the Clean Energy Businesses, Con Edison Transmission and the parent company). See Note L to the financial statements in Item 8.

(b)

Parent company and consolidation adjustments. Other does not represent a business segment.