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Consolidated Income Statement - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
OPERATING REVENUES      
Total operating revenues $ 12,246 $ 12,574 $ 12,337
OPERATING EXPENSES      
Depreciation and amortization 1,920 1,684 1,438
Taxes, other than income taxes 2,575 2,406 2,266
TOTAL OPERATING EXPENSES 9,592 9,898 9,804
Gain on acquisition of Sempra Solar Holdings, LLC 0 0 131
OPERATING INCOME 2,654 2,676 2,664
OTHER INCOME (DEDUCTIONS)      
Investment income (loss) (214) 96 119
Other income 23 45 17
Allowance for equity funds used during construction 17 14 12
Other deductions (227) (104) (210)
TOTAL OTHER INCOME (DEDUCTIONS) (401) 51 (62)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 2,253 2,727 2,602
INTEREST EXPENSE      
Interest on long-term debt 915 888 780
Other interest 118 116 49
Allowance for borrowed funds used during construction (14) (13) (10)
NET INTEREST EXPENSE 1,019 991 819
INCOME BEFORE INCOME TAX EXPENSE 1,234 1,736 1,783
INCOME TAX EXPENSE 90 296 401
NET INCOME 1,144 1,440 1,382
Income attributable to non-controlling interest 43 97 0
NET INCOME FOR COMMON STOCK $ 1,101 $ 1,343 $ 1,382
Net income per common share — basic (in dollars per share) $ 3.29 $ 4.09 $ 4.43
Net income per common share — diluted (in dollars per share) $ 3.28 $ 4.08 $ 4.42
AVERAGE NUMBER OF SHARES OUTSTANDING — BASIC (in shares) 334.8 328.5 311.7
AVERAGE NUMBER OF SHARES OUTSTANDING — DILUTED (in shares) 335.7 329.5 312.9
CECONY      
OPERATING REVENUES      
Total operating revenues $ 10,647 $ 10,821 $ 10,680
OPERATING EXPENSES      
Depreciation and amortization 1,598 1,373 1,276
Taxes, other than income taxes 2,456 2,295 2,156
TOTAL OPERATING EXPENSES 8,337 8,473 8,326
OPERATING INCOME 2,310 2,348 2,354
OTHER INCOME (DEDUCTIONS)      
Investment income (loss) 19 40 13
Allowance for equity funds used during construction 14 12 11
Other deductions (204) (87) (167)
TOTAL OTHER INCOME (DEDUCTIONS) (171) (35) (143)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 2,139 2,313 2,211
INTEREST EXPENSE      
Interest on long-term debt 718 672 662
Other interest 33 67 36
Allowance for borrowed funds used during construction (12) (11) (9)
NET INTEREST EXPENSE 739 728 689
INCOME BEFORE INCOME TAX EXPENSE 1,400 1,585 1,522
INCOME TAX EXPENSE 215 335 326
NET INCOME FOR COMMON STOCK 1,185 1,250 1,196
Electric      
OPERATING REVENUES      
Total operating revenues 8,730 8,694 8,612
Electric | CECONY      
OPERATING REVENUES      
Total operating revenues 8,103 8,062 7,971
Gas      
OPERATING REVENUES      
Total operating revenues 2,269 2,391 2,327
OPERATING EXPENSES      
Operating costs 527 880 1,041
Gas | CECONY      
OPERATING REVENUES      
Total operating revenues 2,036 2,132 2,078
OPERATING EXPENSES      
Operating costs 426 606 643
Steam      
OPERATING REVENUES      
Total operating revenues 508 627 631
Steam | CECONY      
OPERATING REVENUES      
Total operating revenues 508 627 631
Non-utility      
OPERATING REVENUES      
Total operating revenues 739 862 767
Purchased power      
OPERATING EXPENSES      
Operating costs 1,600 1,546 1,644
Purchased power | CECONY      
OPERATING EXPENSES      
Operating costs 1,432 1,357 1,433
Fuel      
OPERATING EXPENSES      
Operating costs 156 207 263
Fuel | CECONY      
OPERATING EXPENSES      
Operating costs 156 207 263
Other operations and maintenance      
OPERATING EXPENSES      
Operating costs 2,814 3,175 3,152
Other operations and maintenance | CECONY      
OPERATING EXPENSES      
Operating costs $ 2,269 $ 2,635 $ 2,555