Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

The following table presents, for the three months ended March 31, 2022 and 2021, 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 March 31, 2022			For the Three Months Ended March 31, 2021
(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	$2,107	$(23)	$2,084	$1,966	$2	$1,968
Gas	1,104	27	1,131	946	27	973
Steam	299	3	302	261	3	264
Total CECONY	$3,510	$7	$3,517	$3,173	$32	$3,205
O&R
Electric	163	3	166	144	1	145
Gas	120	(1)	119	108	(5)	103
Total O&R	$283	$2	$285	$252	($4)	$248
Clean Energy Businesses
Renewables	140	—	140	154	—	154
Energy services	19	—	19	22	—	22
Other	—	101	101	—	48	48
Total Clean Energy Businesses	$159	$101	$260	$176	$48	$224
Con Edison Transmission	1	—	1	1	—	1
Other (b)	—	(3)	(3)	—	(1)	(1)
Total Con Edison	$3,953	$107	$4,060	$3,602	$75	$3,677

(a) For the Utilities, this includes primarily revenue or negative revenue adjustments from alternative revenue programs, such as the revenue decoupling mechanisms under their NY electric and gas rate plans (see "Rate Plans" in Note B). For the Clean Energy Businesses, this includes revenue from wholesale services.

(b) Parent company and consolidation adjustments.

Change in Unbilled Contract and Unearned Revenues


	2022			2021
(Millions of Dollars)	Unbilled contract revenue (a)	Unearned revenue (b)		Unbilled contract revenue (a)	Unearned revenue (b)
Beginning balance as of January 1,	$35	$7		$11	$41
Additions (c)	21	—		24	—
Subtractions (c)	36	4	(d)	13	1	(d)
Ending balance as of March 31,	$20	$3		$22	$40

(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, $4 million and $1 million were included in the balances as of January 1, 2022 and 2021, respectively.