Summary Of Significant Accounting Policies

6 Months Ended

Jun. 30, 2011

Summary Of Significant Accounting Policies

Note A — Summary of Significant Accounting Policies

Earnings Per Common Share

Reference is made to "Earnings Per Common Share" in Note A to the financial statements included in Item 8 of the Form 10-K. For the three and six months ended June 30, 2011 and 2010, Con Edison's basic and diluted EPS for Con Edison are calculated as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Millions of Dollars, except per share amounts/Shares in Millions)	2011		2010		2011		2010
Net income for common stock	$	165	$	183	$	477	$	409
Weighted average common shares outstanding – Basic		292.7		282.0		292.3		281.7
Add: Incremental shares attributable to effect of potentially dilutive securities		1.6		1.5		1.6		1.5
Adjusted weighted average common shares outstanding – Diluted		294.3		283.5		293.9		283.2
Net income for common stock per common share – basic	$	0.57	$	0.65	$	1.63	$	1.45
Net income for common stock per common share – diluted	$	0.56	$	0.64	$	1.62	$	1.44

CECONY [Member]

Summary Of Significant Accounting Policies

Note A — Summary of Significant Accounting Policies

Earnings Per Common Share

Reference is made to "Earnings Per Common Share" in Note A to the financial statements included in Item 8 of the Form 10-K. For the three and six months ended June 30, 2011 and 2010, Con Edison's basic and diluted EPS for Con Edison are calculated as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Millions of Dollars, except per share amounts/Shares in Millions)	2011		2010		2011		2010
Net income for common stock	$	165	$	183	$	477	$	409
Weighted average common shares outstanding – Basic		292.7		282.0		292.3		281.7
Add: Incremental shares attributable to effect of potentially dilutive securities		1.6		1.5		1.6		1.5
Adjusted weighted average common shares outstanding – Diluted		294.3		283.5		293.9		283.2
Net income for common stock per common share – basic	$	0.57	$	0.65	$	1.63	$	1.45
Net income for common stock per common share – diluted	$	0.56	$	0.64	$	1.62	$	1.44