Schedule I - Condensed Financial Information

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Schedule I - Condensed Financial Information

Schedule I

Condensed Financial Information of Consolidated Edison, Inc. (a)

Condensed Statement of Income and Comprehensive Income

(Parent Company Only)

	For the Years Ended December 31,
(Millions of Dollars, except per share amounts)	2021	2020	2019
Equity in earnings of subsidiaries	$1,369	$1,105	$1,354
Other income (deductions), net of taxes	14	56	76
Interest expense	(37)	(60)	(87)
Net Income	$1,346	$1,101	$1,343
Comprehensive Income	$1,376	$1,095	$1,340
Net Income Per Share – Basic	$3.86	$3.29	$4.09
Net Income Per Share – Diluted	$3.85	$3.28	$4.08
Dividends Declared Per Share	$3.10	$3.06	$2.96
Average Number Of Shares Outstanding—Basic (In Millions)	348.4	334.8	328.5
Average Number Of Shares Outstanding—Diluted (In Millions)	349.4	335.7	329.5

(a)These financial statements, in which Con Edison’s subsidiaries have been included using the equity method, should be read together with its consolidated financial statements and the notes thereto appearing above.

Condensed Financial Information of Consolidated Edison, Inc. (a)

Condensed Statement of Cash Flows

(Parent Company Only)

	For the Years Ended December 31,
(Millions of Dollars)	2021	2020	2019
Net Income	$1,346	$1,101	$1,343
Equity in earnings of subsidiaries	(1,369)	(1,105)	(1,354)
Dividends received from:
CECONY	988	982	912
O&R	52	49	47
Clean Energy Businesses	64	21	3
Con Edison Transmission	152	11	12
Change in Assets:
Special deposits	—	—	(3)
Income taxes receivable	15	—	25
Other – net (b)	211	(521)	44
Net Cash Flows from Operating Activities(b)	1,459	538	1,029
Investing Activities
Contributions to subsidiaries	(1,135)	(626)	(930)
Debt receivable from affiliated companies	875	400	450
Net Cash Flows Used in Investing Activities	(260)	(226)	(480)
Financing Activities
Net proceeds of short-term debt	50	(537)	(783)
Issuance of long-term debt	—	650	825
Retirement of long-term debt(b)	(1,178)	(3)	(553)
Debt issuance costs	(1)	(3)	—
Issuance of common shares for stock plans, net of repurchases	60	58	54
Issuance of common shares - public offering	775	640	825
Common stock dividends	(1,030)	(975)	(924)
Net Cash Flows Used in Financing Activities(b)	(1,324)	(170)	(556)
Net Change for the Period	(125)	142	(7)
Balance at Beginning of Period	144	2	9
Balance at End of Period	$19	$144	$2

(a)These financial statements, in which Con Edison’s subsidiaries have been included using the equity method, should be read together with its consolidated financial statements and the notes thereto appearing above.

(b)During 2021, Con Edison identified that the reclassification of debt from long-term to current for the year ended December 31, 2020 had been erroneously presented within the operating cash flow section as a cash inflow and in the financing section as a cash outflow in the Condensed Statement of Cash Flows (Parent Company Only). The amounts for the year ended December 31, 2020 have been revised to correct the error in the classification of $1,175 million from Other - net within Net Cash Flows from Operating Activities to Retirement of long-term debt within Net Cash Flows Used in Financing Activities. Con Edison has evaluated the effect of these misstatements, both qualitatively and quantitatively, and concluded that they are not material to the financial statements issued for the year ended December 31, 2020. These amounts were correctly presented on the Consolidated Statement of Cash Flows for the year ended December 31, 2020.

Condensed Financial Information of Consolidated Edison, Inc. (a)

Condensed Balance Sheet

(Parent Company Only)

	December 31,
(Millions of Dollars)	2021	2020
Assets
Current Assets
Cash and temporary cash investments	$19	$144
Accounts receivable - other	—	1
Income taxes receivable	3	18
Accounts receivable from affiliated companies	1,199	1,256
Prepayments	28	62
Other current assets	14	12
Total Current Assets	1,263	1,493
Investments in subsidiaries and others	19,951	18,670
Goodwill	406	406
Deferred income tax	—	55
Long-term debt receivable from affiliated companies	—	875
Total Assets	$21,620	$21,499
Liabilities and Shareholders’ Equity
Current Liabilities
Long-term debt due within one year	$293	$1,178
Notes payable	50	—
Accounts payable	1	—
Accounts payable to affiliated companies	517	517
Accrued taxes	2	6
Other current liabilities	9	12
Total Current Liabilities	872	1,713
Deferred income tax	64	—
Total Liabilities	936	1,713
Long-term debt	647	939
Shareholders’ Equity
Common stock, including additional paid-in capital	9,748	8,844
Retained earnings	10,289	10,003
Total Shareholders’ Equity	20,037	18,847
Total Liabilities and Shareholders’ Equity	$21,620	$21,499

(a)These financial statements, in which Con Edison’s subsidiaries have been included using the equity method, should be read together with its consolidated financial statements and the notes thereto appearing above.