Financial Information by Business Segment

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Financial Information by Business Segment

Financial Information by Business Segment

The business segments of each of the Companies, which are its operating segments, were determined based on management’s reporting and decision-making requirements in accordance with the accounting rules for segment reporting.

Con Edison’s principal business segments are CECONY’s regulated utility activities, O&R’s regulated utility activities, the Clean Energy Businesses and Con Edison Transmission. CECONY’s principal business segments are its regulated electric, gas and steam utility activities.

All revenues of these business segments are from customers located in the United States of America. Also, all assets of the business segments are located in the United States of America. The accounting policies of the segments are the same as those described in Note A.

Common services shared by the business segments are assigned directly or allocated based on various cost factors, depending on the nature of the service provided.

The financial data for the business segments are as follows:

As of and for the Year Ended December 31, 2022 (Millions of Dollars)	Operating revenues	Inter- segment revenues	Depreciation and amortization	Operating income	Other Income (deductions)	Interest charges	Income taxes on operating income (a)	Total assets		Capital expenditures
CECONY
Electric	$9,751	$19	$1,315	$1,496	$259	$582	$138	$39,153		$2,522
Gas	2,924	8	367	660	52	198	141	15,361		1,128
Steam	593	76	96	(21)	21	42	(18)	2,931		108
Consolidation adjustments	—	(103)	—	—	—	—	—	—		—
Total CECONY	$13,268	$—	$1,778	$2,135	$332	$822	$261	$57,445		$3,758
O&R
Electric	$773	$—	$71	$94	$17	$29	$17	$2,247		$167
Gas	312	—	27	42	6	17	8	1,264		76
Other	—	—	—	—	—	—	—	—		—
Total O&R	$1,085	$—	$98	$136	$23	$46	$25	$3,511		$243
Clean Energy Businesses	$1,319	$—	$178	$368	$3	$(35)	$84	$7,224	(b)	$399
Con Edison Transmission	4	—	1	(10)	19	5	1	314		65
Other (c)	(6)	—	1	(5)	(51)	14	51	571		—
Total Con Edison	$15,670	$—	$2,056	$2,624	$326	$852	$422	$69,065		$4,465

As of and for the Year Ended December 31, 2021 (Millions of Dollars)	Operating revenues	Inter- segment revenues	Depreciation and amortization	Operating income	Other Income (deductions)	Interest charges	Income taxes on operating income (a)	Total assets		Capital expenditures
CECONY
Electric	$8,806	$18	$1,286	$1,802	$(84)	$542	$151	$36,260		$2,189
Gas	2,378	8	326	646	(16)	179	110	13,748		1,126
Steam	532	74	93	12	(8)	41	(9)	2,647		103
Consolidation adjustments	—	(100)	—	—	—	—	—	—		—
Total CECONY	$11,716	$—	$1,705	$2,460	$(108)	$762	$252	$52,655		$3,418
O&R
Electric	$681	$—	$69	$100	$(8)	$27	$13	$2,123		$147
Gas	260	—	26	50	(4)	15	8	1,169		70
Other	—	—	—	—	—	—	—	—		—
Total O&R	$941	$—	$95	$150	$(12)	$42	$21	$3,292		$217
Clean Energy Businesses	$1,022	$—	$231	$236	$(10)	$68	$44	$6,554	(b)	$298
Con Edison Transmission	4	—	1	(16)	(407)	9	3	249		31
Other (c)	(7)	—	—	(4)	(1)	24	20	366		—
Total Con Edison	$13,676	$—	$2,032	$2,826	$(538)	$905	$340	$63,116		$3,964

As of and for the Year Ended December 31, 2020 (Millions of Dollars)	Operating revenues	Inter- segment revenues	Depreciation and amortization	Operating income	Other Income (deductions)		Interest charges	Income taxes on operating income (a)	Total assets		Capital expenditures
CECONY
Electric	$8,103	$18	$1,214	$1,731	$(134)		$535	$130	$35,673		$2,080
Gas	2,036	7	294	574	(25)		164	102	12,678		1,044
Steam	508	74	90	5	(12)		40	(14)	2,616		122
Consolidation adjustments	—	(99)	—	—	—		—	—	—		—
Total CECONY	$10,647	$—	$1,598	$2,310	$(171)		$739	$218	$50,967		$3,246
O&R
Electric	$629	$—	$65	$99	$(10)		$26	$13	$2,097		$159
Gas	233	—	25	48	(4)		15	8	1,150		61
Other	—	—	—	—	—		—	—	—		—
Total O&R	$862	$—	$90	$147	$(14)		$41	$21	$3,247		$220
Clean Energy Businesses	$736	$—	$231	$215	$4		$196	$(43)	$6,848	(b)	$616
Con Edison Transmission	4	—	1	(8)	$	(215)	18	—	1,348		3
Other (c)	(3)	—	—	(10)	(5)		25	(3)	485		—
Total Con Edison	$12,246	$—	$1,920	$2,654	$(401)		$1,019	$193	$62,895		$4,085

(a)For Con Edison, the income tax expense/(benefit) on non-operating income was $76 million, $(150) million and $(103) million in 2022, 2021 and 2020, respectively. For CECONY, the income tax expense/(benefit) on non-operating income was $(6) million, $(6) million and $(3) million in 2022, 2021 and 2020, respectively.

(b)The Clean Energy Businesses were classified as held for sale as of December 31, 2022. See "Assets and Liabilities Held for Sale" in Note A and Note X.

(c)Parent company and consolidation adjustments. Other does not represent a business segment.