Other Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Total Periodic Benefit Costs

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

	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2023	2022	2023	2022
Service cost – including administrative expenses	$40	$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	$(139)	$(4)	$(134)	$(7)
Cost capitalized	(19)	(32)	(18)	(30)
Reconciliation to rate level	72	63	66	59
Total expense (credit) recognized	$(86)	$27	$(86)	$22

	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2023	2022	2023	2022
Service cost – including administrative expenses	$122	$215	$113	$202
Interest cost on projected benefit obligation	486	379	458	357
Expected return on plan assets	(837)	(876)	(795)	(832)
Recognition of net actuarial loss/(gain)	(174)	283	(164)	268
Recognition of prior service credit	(12)	(12)	(15)	(15)
TOTAL PERIODIC BENEFIT CREDIT	$(415)	$(11)	$(403)	$(20)
Cost capitalized	(61)	(100)	(58)	(95)
Reconciliation to rate level	218	192	202	182
Total expense (credit) recognized	$(258)	$81	$(259)	$67

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

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

	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2023	2022	2023	2022
Service cost - including administrative expenses	$11	$14	$9	$11
Interest cost on projected other postretirement benefit obligation	43	26	37	23
Expected return on plan assets	(53)	(54)	(42)	(43)
Recognition of net actuarial gain	(12)	(11)	(6)	(7)
Recognition of prior service credit	(1)	(1)	—	—
TOTAL PERIODIC OTHER POSTRETIREMENT CREDIT	$(12)	$(26)	$(2)	$(16)
Cost capitalized	(5)	(6)	(4)	(5)
Reconciliation to rate level	2	22	(2)	18
Total credit recognized	$(15)	$(10)	$(8)	$(3)