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Consolidated Income Statement (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
OPERATING REVENUES        
Total operating revenues $ 2,719 $ 2,744 $ 5,953 $ 6,258
OPERATING EXPENSES        
Depreciation and amortization 476 418 946 831
Taxes, other than income taxes 604 578 1,242 1,183
TOTAL OPERATING EXPENSES 2,240 2,286 4,666 5,014
OPERATING INCOME 479 458 1,287 1,244
OTHER INCOME (DEDUCTIONS)        
Investment and other income 25 22 51 45
Other income 4 4 6 15
Allowance for equity funds used during construction 5 4 10 7
Other deductions (55) (27) (126) (50)
TOTAL OTHER INCOME (DEDUCTIONS) (21) 3 (59) 17
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 458 461 1,228 1,261
INTEREST EXPENSE        
Interest on long-term debt 234 219 459 440
Other interest 15 47 117 77
Allowance for borrowed funds used during construction (2) (3) (6) (7)
NET INTEREST EXPENSE 247 263 570 510
INCOME BEFORE INCOME TAX EXPENSE 211 198 658 751
INCOME TAX EXPENSE 9 19 64 127
NET INCOME 202 179 594 624
Income attributable to non-controlling interest 12 27 29 48
NET INCOME FOR COMMON STOCK $ 190 $ 152 $ 565 $ 576
Net income per common share - basic (dollars per share) $ 0.57 $ 0.46 $ 1.69 $ 1.77
Net income per common share - diluted (dollars per share) $ 0.57 $ 0.46 $ 1.69 $ 1.77
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (shares) 334.1 328.3 333.8 325.2
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (shares) 335.0 329.2 334.7 326.1
Electric        
OPERATING REVENUES        
Total operating revenues $ 1,983 $ 1,971 $ 3,890 $ 3,912
Gas        
OPERATING REVENUES        
Total operating revenues 453 449 1,384 1,484
OPERATING EXPENSES        
Operating costs 77 131 309 573
Steam        
OPERATING REVENUES        
Total operating revenues 84 90 334 411
Non-utility        
OPERATING REVENUES        
Total operating revenues 199 234 345 451
Power        
OPERATING EXPENSES        
Operating costs 380 352 688 719
Fuel        
OPERATING EXPENSES        
Operating costs 23 26 101 133
Other operations and maintenance        
OPERATING EXPENSES        
Operating costs 680 781 1,380 1,575
CECONY        
OPERATING REVENUES        
Total operating revenues 2,345 2,331 5,200 5,371
OPERATING EXPENSES        
Depreciation and amortization 396 339 786 673
Taxes, other than income taxes 579 550 1,186 1,125
TOTAL OPERATING EXPENSES 1,956 1,955 4,068 4,270
OPERATING INCOME 389 376 1,132 1,101
OTHER INCOME (DEDUCTIONS)        
Investment and other income 3 4 5 13
Allowance for equity funds used during construction 4 3 9 6
Other deductions (47) (22) (114) (41)
TOTAL OTHER INCOME (DEDUCTIONS) (40) (15) (100) (22)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 349 361 1,032 1,079
INTEREST EXPENSE        
Interest on long-term debt 185 165 358 334
Other interest 7 19 19 36
Allowance for borrowed funds used during construction (2) (2) (5) (6)
NET INTEREST EXPENSE 190 182 372 364
INCOME BEFORE INCOME TAX EXPENSE 159 179 660 715
INCOME TAX EXPENSE 7 27 102 151
NET INCOME FOR COMMON STOCK 152 152 558 564
CECONY | Electric        
OPERATING REVENUES        
Total operating revenues 1,845 1,833 3,616 3,630
CECONY | Gas        
OPERATING REVENUES        
Total operating revenues 416 408 1,250 1,330
OPERATING EXPENSES        
Operating costs 64 76 260 393
CECONY | Steam        
OPERATING REVENUES        
Total operating revenues 84 90 334 411
CECONY | Power        
OPERATING EXPENSES        
Operating costs 345 313 618 635
CECONY | Fuel        
OPERATING EXPENSES        
Operating costs 23 26 101 133
CECONY | Other operations and maintenance        
OPERATING EXPENSES        
Operating costs $ 549 $ 651 $ 1,117 $ 1,311