Financial Information by Business Segment

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Financial Information by Business Segment

Financial Information by Business Segment

Con Edison’s principal business segments are CECONY’s regulated utility activities, O&R’s regulated utility activities and Con Edison Transmission. CECONY’s principal business segments are its regulated electric, gas and steam utility activities. The financial data for the business segments for the three and nine months ended September 30, 2023 and 2022 were as follows:

	For the Three Months Ended September 30,
	Operating revenues		Inter-segment revenues		Depreciation and amortization		Operating income/(loss)
(Millions of Dollars)	2023	2022	2023	2022	2023	2022	2023	2022
CECONY
Electric	$3,223	$3,077	$4	$5	$352	$324	$867	$843
Gas	318	414	2	2	108	93	(108)	(40)
Steam	49	58	19	19	25	24	(80)	(65)
Consolidation adjustments	—	—	(25)	(26)	—	—	—	—
Total CECONY	$3,590	$3,549	$—	$—	$485	$441	$679	$738
O&R
Electric	$246	$252	$—	$—	$19	$18	59	$61
Gas	35	39	—	—	7	7	(11)	(10)
Total O&R	$281	$291	$—	$—	$26	$25	$48	$51
Clean Energy Businesses (a)	$—	$325	$—	$—	$—	$60	—	$104
Con Edison Transmission	1	1	—	—	1	—	(2)	(2)
Other (b)	—	(1)	—	—	—	(1)	(3)	(2)
Total Con Edison	$3,872	$4,165	$—	$—	$512	$525	$722	$889

(a) On March 1, 2023, Con Edison completed the sale of substantially all of the assets of the Clean Energy Businesses. As a result of this sale, the Clean Energy Businesses are no longer a principal segment. See Note S and Note T.

(b) Other includes the parent company, Con Edison’s tax equity investments, the deferred project held for sale and consolidation adjustments. Other does not represent a business segment. See Note T.

	For the Nine Months Ended September 30,
	Operating revenues		Inter-segment revenues		Depreciation and amortization		Operating income/(loss)
(Millions of Dollars)	2023	2022	2023	2022	2023	2022	2023	2022
CECONY
Electric	$7,722	$7,401	$14	$14	$1,035	$994	$1,292	$1,233
Gas	2,140	2,127	6	6	319	275	533	511
Steam	425	444	55	57	74	72	(75)	(15)
Consolidation adjustments	—	—	(75)	(77)	—	—	—	—
Total CECONY	$10,287	$9,972	$—	$—	$1,428	$1,341	$1,750	$1,729
O&R
Electric	$588	$594	$—	$—	$56	$53	$73	$85
Gas	215	219	—	—	22	20	27	25
Total O&R	$803	$813	$—	$—	$78	$73	$100	$110
Clean Energy Businesses (a)	$129	$857	$—	$—	$—	$178	$37	$248
Con Edison Transmission	3	3	—	—	1	1	(6)	(8)
Other (b)	(3)	(6)	—	—	(1)	—	864	(5)
Total Con Edison	$11,219	$11,639	$—	$—	$1,506	$1,593	$2,745	$2,074

(a) On March 1, 2023, Con Edison completed the sale of substantially all of the assets of the Clean Energy Businesses. As a result of this sale, the Clean Energy Businesses are no longer a principal segment. See Note S and Note T.

(b) Other includes the parent company, Con Edison’s tax equity investments, the deferred project held for sale and consolidation adjustments. Other does not represent a business segment. See Note T.