Capitalization

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Capitalization

Capitalization

In June 2022, Con Edison redeemed at maturity $293 million of 8.71 percent senior unsecured notes.

In November 2022, O&R issued $100 million aggregate principal amount of 5.70 percent debentures, due 2032.

The carrying amounts and fair values of long-term debt at September 30, 2022 and December 31, 2021 were:

(Millions of Dollars)	2022		2021
Long-Term Debt (including current portion) (a)	Carrying Amount	Fair Value	Carrying Amount	Fair Value
Con Edison	$22,673	$19,311	$23,044	$26,287
CECONY	$18,389	$15,465	$18,382	$21,382

(a)Amounts shown are net of unamortized debt expense and unamortized debt discount of $216 million and $186 million for Con Edison and CECONY, respectively, as of September 30, 2022 and $226 million and $193 million for Con Edison and CECONY, respectively, as of December 31, 2021.

The fair values of the Companies' long-term debt have been estimated primarily using available market information and at September 30, 2022 are classified as Level 2 liabilities (see Note O).