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Consolidated Income Statement (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
OPERATING REVENUES        
Total operating revenues $ 3,333 $ 3,365 $ 9,286 $ 9,623
OPERATING EXPENSES        
Depreciation and amortization 482 421 1,428 1,253
Taxes, other than income taxes 673 618 1,915 1,800
TOTAL OPERATING EXPENSES 2,473 2,498 7,139 7,512
OPERATING INCOME 860 867 2,147 2,111
OTHER INCOME (DEDUCTIONS)        
Investment and other income 27 25 78 70
Other income 8 10 15 26
Allowance for equity funds used during construction 2 4 12 11
Other deductions (50) (25) (177) (76)
TOTAL OTHER INCOME (DEDUCTIONS) (13) 14 (72) 31
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 847 881 2,075 2,142
INTEREST EXPENSE        
Interest on long-term debt 227 220 685 660
Other interest 4 45 122 122
Allowance for borrowed funds used during construction (5) (3) (10) (10)
NET INTEREST EXPENSE 226 262 797 772
INCOME BEFORE INCOME TAX EXPENSE 621 619 1,278 1,370
INCOME TAX EXPENSE 119 116 183 243
NET INCOME 502 503 1,095 1,127
Income attributable to non-controlling interest 9 30 37 79
NET INCOME FOR COMMON STOCK $ 493 $ 473 $ 1,058 $ 1,048
Net income per common share - basic (dollars per share) $ 1.47 $ 1.42 $ 3.17 $ 3.20
Net income per common share - diluted (dollars per share) $ 1.47 $ 1.42 $ 3.16 $ 3.19
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (shares) 334.5 332.2 334.1 327.3
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (shares) 335.4 333.2 335.0 328.3
Electric        
OPERATING REVENUES        
Total operating revenues $ 2,770 $ 2,753 $ 6,660 $ 6,665
Gas        
OPERATING REVENUES        
Total operating revenues 289 306 1,673 1,790
OPERATING EXPENSES        
Operating costs 55 98 364 671
Steam        
OPERATING REVENUES        
Total operating revenues 51 58 385 469
Non-utility        
OPERATING REVENUES        
Total operating revenues 223 248 568 699
Power        
OPERATING EXPENSES        
Operating costs 503 483 1,192 1,203
Fuel        
OPERATING EXPENSES        
Operating costs 24 31 124 163
Other operations and maintenance        
OPERATING EXPENSES        
Operating costs 736 847 2,116 2,422
CECONY        
OPERATING REVENUES        
Total operating revenues 2,872 2,877 8,072 8,248
OPERATING EXPENSES        
Depreciation and amortization 401 346 1,187 1,020
Taxes, other than income taxes 643 590 1,830 1,715
TOTAL OPERATING EXPENSES 2,150 2,154 6,218 6,423
OPERATING INCOME 722 723 1,854 1,825
OTHER INCOME (DEDUCTIONS)        
Investment and other income 6 10 11 23
Allowance for equity funds used during construction 1 3 10 9
Other deductions (45) (22) (159) (63)
TOTAL OTHER INCOME (DEDUCTIONS) (38) (9) (138) (31)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 684 714 1,716 1,794
INTEREST EXPENSE        
Interest on long-term debt 179 168 537 501
Other interest 7 16 26 52
Allowance for borrowed funds used during construction (4) (3) (9) (8)
NET INTEREST EXPENSE 182 181 554 545
INCOME BEFORE INCOME TAX EXPENSE 502 533 1,162 1,249
INCOME TAX EXPENSE 97 119 199 271
NET INCOME FOR COMMON STOCK 405 414 963 978
CECONY | Electric        
OPERATING REVENUES        
Total operating revenues 2,562 2,544 6,178 6,174
CECONY | Gas        
OPERATING REVENUES        
Total operating revenues 259 275 1,509 1,605
OPERATING EXPENSES        
Operating costs 38 52 298 445
CECONY | Steam        
OPERATING REVENUES        
Total operating revenues 51 58 385 469
CECONY | Power        
OPERATING EXPENSES        
Operating costs 447 423 1,065 1,058
CECONY | Fuel        
OPERATING EXPENSES        
Operating costs 24 31 124 163
CECONY | Other operations and maintenance        
OPERATING EXPENSES        
Operating costs $ 597 $ 712 $ 1,714 $ 2,022