Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

The following table presents, for the years ended December 31, 2021, 2020 and 2019, revenue from contracts with customers as defined in Accounting Standards Codification (ASC) Topic 606, "Revenue from Contracts with Customers," as well as additional revenue from sources other than contracts with customers, disaggregated by major source.


	2021			2020			2019
(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	Revenues from contracts with customers	Other revenues (a)	Total operating revenues
CECONY
Electric	$8,736	$70	$8,806	$8,026	$77	$8,103	$7,913	$149	$8,062
Gas	2,324	54	2,378	1,998	38	2,036	2,097	35	2,132
Steam	519	13	532	494	14	508	610	17	627
Total CECONY	$11,579	$137	$11,716	$10,518	$129	$10,647	$10,620	$201	$10,821
O&R
Electric	691	(10)	681	619	10	629	627	7	634
Gas	265	(5)	260	224	9	233	247	12	259
Total O&R	$956	$(15)	$941	$843	$19	$862	$874	$19	$893
Clean Energy Businesses
Renewables	683	—	683	609	—	609	575	—	575
Energy services	234	—	234	52	—	52	71	—	71
Other	—	105	105	—	75	75	—	211	211
Total Clean Energy Businesses	$917	$105	$1,022	$661	$75	$736	$646	$211	$857
Con Edison Transmission	4	—	4	4	—	4	4	—	4
Other (b)	—	(7)	(7)	—	(3)	(3)	—	(1)	(1)
Total Con Edison	$13,456	$220	$13,676	$12,026	$220	$12,246	$12,144	$430	$12,574

(a) For the Utilities, this includes revenue from alternative revenue programs, such as the revenue decoupling mechanisms under their NY electric and gas rate plans, as well as net earnings adjustment mechanisms (EAMs) and positive incentives primarily for achieving energy efficiency goals (see "Rate Plans" in Note B), and for 2021 recognition of late payment charges and fees that were not billed (LPCs) for the years ended December 31, 2020 and 2021 and for which recovery was granted by the NYSPSC. See "COVID-19 Regulatory Matters" in Note B and "Utilities' Assessment of Late Payment Charges" below. The amount of revenue recognized under such alternative revenue programs for 2021 includes $48 million, $34 million and $74 million for CECONY's revenue decoupling mechanisms, net EAMs, and LPCs, respectively, and $(18) million, $2 million and $4 million for O&R's revenue decoupling mechanisms, net EAMs, and LPCs, respectively. For the Clean Energy Businesses, this includes revenue from wholesale services.

(b) Parent company and consolidation adjustments.

Change in Unbilled Contract and Unearned Revenues


	2021			2020			2019
(Millions of Dollars)	Unbilled contract revenue (a)	Unearned revenue (b)		Unbilled contract revenue (a)	Unearned revenue (b)		Unbilled contract revenue (a)	Unearned revenue (b)
Beginning balance as of January 1,	$11	$41		$29	$17		$29	$20
Additions (c)	242	—		88	31		86	1
Subtractions (c)	218	34	(d)	106	7	(d)	86	4	(d)
Ending balance as of December 31,	$35	$7		$11	$41		$29	$17

(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, $34 million, $7 million and $4 million were included in the balances as of January 1, 2021, 2020, and 2019, respectively.