Pension Benefits (Tables)

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

Total Periodic Benefit Costs

The components of the Companies’ total periodic benefit cost/(credit) for the three and six months ended June 30, 2023 and 2022 were as follows:

	For the Three Months Ended June 30,
	Con Edison		CECONY
(Millions of Dollars)	2023	2022	2023	2022
Service cost – including administrative expenses	$41	$72	$38	$67
Interest cost on projected benefit obligation	162	126	153	119
Expected return on plan assets	(279)	(292)	(265)	(277)
Recognition of net actuarial loss/(gain)	(58)	94	(55)	89
Recognition of prior service credit	(4)	(4)	(5)	(5)
TOTAL PERIODIC BENEFIT CREDIT	$(138)	$(4)	$(134)	$(7)
Cost capitalized	(21)	(35)	(20)	(33)
Reconciliation to rate level	74	66	68	62
Total expense (credit) recognized	$(85)	$27	$(86)	$22

	For the Six Months Ended June 30,
	Con Edison		CECONY
(Millions of Dollars)	2023	2022	2023	2022
Service cost – including administrative expenses	$80	$144	$75	$135
Interest cost on projected benefit obligation	324	252	305	237
Expected return on plan assets	(557)	(585)	(530)	(554)
Recognition of net actuarial loss/(gain)	(115)	189	(109)	179
Recognition of prior service credit	(9)	(8)	(10)	(10)
TOTAL PERIODIC BENEFIT CREDIT	$(277)	$(8)	$(269)	$(13)
Cost capitalized	(42)	(68)	(39)	(65)
Reconciliation to rate level	147	130	135	123
Total expense (credit) recognized	$(172)	$54	$(173)	$45

The components of the Companies’ total periodic other postretirement benefit cost/(credit) for the three and six months ended June 30, 2023 and 2022 were as follows:

	For the Three Months Ended June 30,
	Con Edison		CECONY
(Millions of Dollars)	2023	2022	2023	2022
Service cost - including administrative expenses	$4	$4	$3	$3
Interest cost on projected other postretirement benefit obligation	14	9	12	7
Expected return on plan assets	(18)	(18)	(14)	(15)
Recognition of net actuarial gain	(4)	(6)	(2)	(3)
Recognition of prior service credit	—	(1)	—	—
TOTAL PERIODIC OTHER POSTRETIREMENT CREDIT	$(4)	$(12)	$(1)	$(8)
Cost capitalized	(2)	(2)	(1)	(1)
Reconciliation to rate level	1	11	—	8
Total credit recognized	$(5)	$(3)	$(2)	$(1)

	For the Six Months Ended June 30,
	Con Edison		CECONY
(Millions of Dollars)	2023	2022	2023	2022
Service cost - including administrative expenses	$7	$9	$6	$7
Interest cost on projected other postretirement benefit obligation	28	18	25	15
Expected return on plan assets	(35)	(36)	(28)	(29)
Recognition of net actuarial gain	(8)	(7)	(4)	(4)
Recognition of prior service credit	(1)	(1)	—	—
TOTAL PERIODIC OTHER POSTRETIREMENT CREDIT	$(9)	$(17)	$(1)	$(11)
Cost capitalized	(3)	(4)	(2)	(3)
Reconciliation to rate level	2	15	(2)	12
Total credit recognized	$(10)	$(6)	$(5)	$(2)