Other Postretirement Benefits

9 Months Ended

Sep. 30, 2021

Retirement Benefits [Abstract]

Other Postretirement Benefits

Other Postretirement Benefits

Total Periodic Benefit Cost

The components of the Companies’ total periodic other postretirement benefit cost/(credit) for the three and nine months ended September 30, 2021 and 2020 were as follows:

	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2021	2020	2021	2020
Service cost - including administrative expenses	$2	$5	$1	$4
Interest cost on projected other postretirement benefit obligation	7	9	6	8
Expected return on plan assets	(17)	(16)	(14)	(14)
Recognition of net actuarial loss	4	3	3	3
Recognition of prior service credit	—	(1)	—	—
TOTAL PERIODIC OTHER POSTRETIREMENT BENEFIT COST	$(4)	$—	$(4)	$1
Cost capitalized	(3)	(2)	(3)	(2)
Reconciliation to rate level	7	2	6	—
Total credit recognized	$—	$—	$(1)	$(1)

	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2021	2020	2021	2020
Service cost - including administrative expenses	$15	$16	$11	$12
Interest cost on projected other postretirement benefit obligation	23	28	19	23
Expected return on plan assets	(51)	(49)	(41)	(41)
Recognition of net actuarial loss	17	34	13	32
Recognition of prior service credit	(2)	(3)	(1)	(1)
TOTAL PERIODIC OTHER POSTRETIREMENT BENEFIT COST	$2	$26	$1	$25
Cost capitalized	(9)	(7)	(7)	(5)
Reconciliation to rate level	7	(19)	2	(24)
Total credit recognized	$—	$—	$(4)	$(4)

For information about the presentation of the components of other postretirement benefit costs, see Note E.

Contributions

During the first nine months of 2021, the Companies contributed $2 million (all of which was made by CECONY) to the other postretirement benefit plans. The Companies' policy is to fund the total periodic benefit cost of the plans to the extent tax deductible.