Capitalization

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Capitalization

Capitalization

The carrying amounts and fair values of long-term debt at March 31, 2024 and December 31, 2023 were:

(Millions of Dollars)	2024		2023
Long-Term Debt (including current portion) (a)	Carrying Amount	Fair Value	Carrying Amount		Fair Value
Con Edison	$22,179	$20,101	$22,177	(b)	$20,525	(b)
CECONY	$21,062	$19,114	$21,060		$19,517

(a)Amounts shown are net of unamortized debt expense and unamortized debt discount of $221 million and $213 million for Con Edison and CECONY, respectively, as of March 31, 2024 and $222 million and $215 million for Con Edison and CECONY, respectively, as of December 31, 2023.

(b)Amounts shown exclude the debt of Broken Bow II, a deferred project that was classified as held for sale as of December 31, 2023. The carrying value and fair value of Broken Bow II's long-term debt, including the current portion, as of March 31, 2024 was $62 million and $57 million, respectively. On March 1, 2023, Con Edison completed the sale of all of the stock of the Clean Energy Businesses. See Note Q and Note R.

The fair values of the Companies' long-term debt have been estimated primarily using available market information and at March 31, 2024 are classified as Level 2 liabilities. See Note O.