XML 18 R2.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED INCOME STATEMENT (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
OPERATING REVENUES        
Total operating revenues $ 2,971 $ 2,719 $ 6,648 $ 5,953
OPERATING EXPENSES        
Depreciation and amortization 502 476 1,000 946
Taxes, other than income taxes 672 604 1,375 1,242
TOTAL OPERATING EXPENSES 2,553 2,240 5,369 4,666
OPERATING INCOME 418 479 1,279 1,287
OTHER INCOME (DEDUCTIONS)        
Investment income (loss) (24) 25 (185) 51
Other income 7 4 14 6
Allowance for equity funds used during construction 5 5 10 10
Other deductions (38) (55) (76) (126)
TOTAL OTHER INCOME (DEDUCTIONS) (50) (21) (237) (59)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 368 458 1,042 1,228
INTEREST EXPENSE        
Interest on long-term debt 230 234 458 459
Other interest 35 15 (14) 117
Allowance for borrowed funds used during construction (4) (2) (8) (6)
NET INTEREST EXPENSE 261 247 436 570
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) 107 211 606 658
INCOME TAX EXPENSE (BENEFIT) (11) 9 68 64
NET INCOME 118 202 538 594
Income (loss) attributable to non-controlling interest (47) 12 (46) 29
NET INCOME $ 165 $ 190 $ 584 $ 565
Net income per common share - basic (dollars per share) $ 0.48 $ 0.57 $ 1.70 $ 1.69
Net income per common share - diluted (dollars per share) $ 0.48 $ 0.57 $ 1.70 $ 1.69
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (shares) 345.4 334.1 344.0 333.8
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (shares) 346.2 335.0 344.8 334.7
Subsidiaries        
OPERATING REVENUES        
Total operating revenues $ 2,486 $ 2,345 $ 5,692 $ 5,200
OPERATING EXPENSES        
Depreciation and amortization 423 396 838 786
Taxes, other than income taxes 643 579 1,317 1,186
TOTAL OPERATING EXPENSES 2,165 1,956 4,584 4,068
OPERATING INCOME 321 389 1,108 1,132
OTHER INCOME (DEDUCTIONS)        
Investment income (loss) 5 3 11 5
Allowance for equity funds used during construction 5 4 9 9
Other deductions (33) (47) (66) (114)
TOTAL OTHER INCOME (DEDUCTIONS) (23) (40) (46) (100)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 298 349 1,062 1,032
INTEREST EXPENSE        
Interest on long-term debt 186 185 370 358
Other interest 4 7 8 19
Allowance for borrowed funds used during construction (4) (2) (7) (5)
NET INTEREST EXPENSE 186 190 371 372
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) 112 159 691 660
INCOME TAX EXPENSE (BENEFIT) (16) 7 98 102
NET INCOME 128 152 593 558
Electric        
OPERATING REVENUES        
Total operating revenues 2,115 1,983 4,228 3,890
Electric | Subsidiaries        
OPERATING REVENUES        
Total operating revenues 1,963 1,845 3,931 3,616
Gas        
OPERATING REVENUES        
Total operating revenues 490 453 1,566 1,384
OPERATING EXPENSES        
Operating costs 83 77 379 309
Gas | Subsidiaries        
OPERATING REVENUES        
Total operating revenues 449 416 1,423 1,250
OPERATING EXPENSES        
Operating costs 63 64 296 260
Steam        
OPERATING REVENUES        
Total operating revenues 74 84 338 334
Steam | Subsidiaries        
OPERATING REVENUES        
Total operating revenues 74 84 338 334
Non-utility        
OPERATING REVENUES        
Total operating revenues 292 199 516 345
Purchased power        
OPERATING EXPENSES        
Operating costs 463 380 900 688
Purchased power | Subsidiaries        
OPERATING EXPENSES        
Operating costs 417 345 813 618
Fuel        
OPERATING EXPENSES        
Operating costs 29 23 122 101
Fuel | Subsidiaries        
OPERATING EXPENSES        
Operating costs 29 23 122 101
Other operations and maintenance        
OPERATING EXPENSES        
Operating costs 804 680 1,593 1,380
Other operations and maintenance | Subsidiaries        
OPERATING EXPENSES        
Operating costs 590 549 1,198 1,117
CECONY | Subsidiaries        
OPERATING EXPENSES        
Depreciation and amortization 423 396 838 786
OPERATING INCOME 321 389 $ 1,108 $ 1,132
INTEREST EXPENSE        
INCOME TAX EXPENSE (BENEFIT) $ (16) $ 7