Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lease Costs, Cash Flows and Other Related Information

Operating lease cost and cash paid for amounts included in the measurement of lease liabilities for the twelve months ended December 31, 2022 and 2021 were as follows:

	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Operating lease cost	$88	$86	$67	$66
Operating lease cash flows	$83	$80	$64	$63

Other information related to leases for Con Edison and CECONY at December 31, 2022 and 2021 was as follows:

	Con Edison		CECONY
	2022	2021	2022	2021
Weighted Average Remaining Lease Term:
Operating leases, (a)	12.3 years	18.5 years	12.4 years	12.1 years
Finance leases	7.2 years	7.1 years	2.3 years	3.1 years
Weighted Average Discount Rate:
Operating leases, (a)	3.7%	4.3%	3.7%	3.5%
Finance leases	1.9%	1.8%	1.0%	1.1%

(a)Amounts for Con Edison in 2022 exclude operating leases of the Clean Energy Businesses, which were classified as held for sale as of December 31, 2022, see "Assets and Liabilities Held for Sale" in Note A and Note X. Including the operating leases of the Clean Energy Businesses would result in a weighted average remaining lease term of 18.3 years and a weighted average discount rate of 4.4% as of December 31, 2022.

Operating Leases, Future Minimum Lease Payments

Future minimum lease payments under non-cancellable leases at December 31, 2022 were as follows:

(Millions of Dollars)	Con Edison		CECONY
Year Ending December 31, (b)	Operating Leases	Finance Leases	Operating Leases	Finance Leases
2023	$64	$—	$64	$—
2024	65	1	64	1
2025	65	—	64	—
2026	64	—	64	—
2027	64	—	64	—
All years thereafter	419	1	419	—
Total future minimum lease payments	$741	$2	$739	$1
Less: imputed interest	(162)	—	(161)	—
Total	$579	$2	$578	$1
Reported as of December 31, 2022
Operating lease liabilities (current) (a)	$103	$—	$103	$—
Operating lease liabilities held for sale (current)	33	—	—	—
Operating lease liabilities (noncurrent) (a)	476	—	475	—
Operating lease liabilities held for sale (noncurrent)	249	—	—	—
Other current liabilities	—	—	—	—
Other noncurrent liabilities	—	2	—	1
Total	$861	$2	$578	$1

(a)Amounts exclude operating lease liabilities of the Clean Energy Businesses ($281 million), which are classified as current liabilities held for sale on Con Edison's consolidated balance sheet as of December 31, 2022. See "Assets and Liabilities Held for Sale" in Note A and Note X.

(b)Amounts exclude operating lease future minimum lease payments of the Clean Energy Businesses, of $19 million, $18 million, $19 million, $17 million, $17 million, and $492 million for the 12 months ended December 31, 2023, 2024, 2025, 2026, 2027, and all years thereafter, respectively, and imputed interest of $301 million.

Finance Leases, Future Minimum Lease Payments

Future minimum lease payments under non-cancellable leases at December 31, 2022 were as follows:

(Millions of Dollars)	Con Edison		CECONY
Year Ending December 31, (b)	Operating Leases	Finance Leases	Operating Leases	Finance Leases
2023	$64	$—	$64	$—
2024	65	1	64	1
2025	65	—	64	—
2026	64	—	64	—
2027	64	—	64	—
All years thereafter	419	1	419	—
Total future minimum lease payments	$741	$2	$739	$1
Less: imputed interest	(162)	—	(161)	—
Total	$579	$2	$578	$1
Reported as of December 31, 2022
Operating lease liabilities (current) (a)	$103	$—	$103	$—
Operating lease liabilities held for sale (current)	33	—	—	—
Operating lease liabilities (noncurrent) (a)	476	—	475	—
Operating lease liabilities held for sale (noncurrent)	249	—	—	—
Other current liabilities	—	—	—	—
Other noncurrent liabilities	—	2	—	1
Total	$861	$2	$578	$1

(a)Amounts exclude operating lease liabilities of the Clean Energy Businesses ($281 million), which are classified as current liabilities held for sale on Con Edison's consolidated balance sheet as of December 31, 2022. See "Assets and Liabilities Held for Sale" in Note A and Note X.

(b)Amounts exclude operating lease future minimum lease payments of the Clean Energy Businesses, of $19 million, $18 million, $19 million, $17 million, $17 million, and $492 million for the 12 months ended December 31, 2023, 2024, 2025, 2026, 2027, and all years thereafter, respectively, and imputed interest of $301 million.