Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

The following table presents, for the three and six months ended June 30, 2021 and 2020, revenue from contracts with customers as defined in Accounting Standards Codification Topic 606, "Revenue from Contracts with Customers," as well as additional revenue from sources other than contracts with customers, disaggregated by major source.


	For the Three Months Ended June 30, 2021			For the Three Months Ended June 30, 2020
(Millions of Dollars)	Revenues from contracts with customers	Other revenues (a)	Total operating revenues	Revenues from contracts with customers	Other revenues (a)	Total operating revenues
CECONY
Electric	$1,953	$10	$1,963	$1,781	$64	$1,845
Gas	447	2	449	399	17	416
Steam	71	3	74	81	3	84
Total CECONY	$2,471	$15	$2,486	$2,261	$84	$2,345
O&R
Electric	161	(8)	153	139	(1)	138
Gas	44	(3)	41	37	—	37
Total O&R	$205	$(11)	$194	$176	($1)	$175
Clean Energy Businesses
Renewables	192	—	192	178	—	178
Energy services	81	—	81	11	—	11
Other	—	18	18	—	9	9
Total Clean Energy Businesses	$273	$18	$291	$189	$9	$198
Con Edison Transmission	1	—	1	1	—	1
Other (b)	—	(1)	(1)	—	—	—
Total Con Edison	$2,950	$21	$2,971	$2,627	$92	$2,719

(a) For the Utilities, this includes revenue from alternative revenue programs, such as the revenue decoupling mechanisms under their New York electric and gas rate plans. For the Clean Energy Businesses, this includes revenue from wholesale services

(b) Parent company and consolidation adjustments.


	For the Six Months Ended June 30, 2021			For the Six Months Ended June 30, 2020
(Millions of Dollars)	Revenues from contracts with customers	Other revenues (a)	Total operating revenues	Revenues from contracts with customers	Other revenues (a)	Total operating revenues
CECONY
Electric	$3,919	$12	$3,931	$3,514	$102	$3,616
Gas	1,394	29	1,423	1,232	18	1,250
Steam	331	7	338	325	9	334
Total CECONY	$5,644	$48	$5,692	$5,071	$129	$5,200
O&R
Electric	305	(6)	299	267	7	274
Gas	152	(9)	143	130	4	134
Total O&R	$457	$(15)	$442	$397	$11	$408
Clean Energy Businesses
Renewables	346	—	346	292	—	292
Energy services	103	—	103	22	—	22
Other	—	66	66	—	30	30
Total Clean Energy Businesses	$449	$66	$515	$314	$30	$344
Con Edison Transmission	2	—	2	2	—	2
Other (b)	—	(3)	(3)	—	(1)	(1)
Total Con Edison	$6,552	$96	$6,648	$5,784	$169	$5,953

(b) Parent company and consolidation adjustments.

Change in Unbilled Contract and Unearned Revenues


	2021			2020
(Millions of Dollars)	Unbilled contract revenue (a)	Unearned revenue (b)		Unbilled contract revenue (a)	Unearned revenue (b)
Beginning balance as of January 1,	$11	$41		$29	$17
Additions (c)	107	—		58	31
Subtractions (c)	78	29	(d)	65	1	(d)
Ending balance as of June 30,	$40	$12		$22	$47

(a)Unbilled contract revenue represents accumulated incurred costs and earned profits on contracts (revenue arrangements), which have been recorded as revenue, but have not yet been billed to customers, and which represent contract assets as defined in Topic 606. Substantially all accrued unbilled contract revenue is expected to be collected within one year. Unbilled contract revenue arises from the cost-to-cost method of revenue recognition. Unbilled contract revenue from fixed-price type contracts is converted to billed receivables when amounts are invoiced to customers according to contractual billing terms, which generally occur when deliveries or other performance milestones are completed.

(b)Unearned revenue represents a liability for billings to customers in excess of earned revenue, which are contract liabilities as defined in Topic 606.

(c)Additions for unbilled contract revenue and subtractions for unearned revenue represent additional revenue earned. Additions for unearned revenue and subtractions for unbilled contract revenue represent billings. Activity also includes appropriate balance sheet classification for the period.

(d)Of the subtractions from unearned revenue, $29 million and $1 million were included in the balances as of January 1, 2021 and 2020, respectively.