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Consolidated Income Statement (USD $)
In Millions, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
OPERATING REVENUES        
Electric $ 2,153 $ 2,256 $ 4,022 $ 4,145
Gas 333 274 1,088 1,047
Steam 107 89 432 396
Non-utility 400 398 800 890
TOTAL OPERATING REVENUES 2,993 3,017 6,342 6,478
OPERATING EXPENSES        
Purchased power 1,020 1,140 1,886 2,283
Fuel 68 87 244 237
Gas purchased for resale 111 67 418 410
Other operations and maintenance 732 678 1,429 1,379
Depreciation and amortization 219 211 437 415
Taxes, other than income taxes 445 405 904 833
TOTAL OPERATING EXPENSES 2,595 2,588 5,318 5,557
OPERATING INCOME 398 429 1,024 921
OTHER INCOME (DEDUCTIONS)        
Investment and other income 10 14 19 21
Allowance for equity funds used during construction 2 4 6 9
Other deductions (7) (6) (10) (9)
TOTAL OTHER INCOME (DEDUCTIONS) 5 12 15 21
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 403 441 1,039 942
INTEREST EXPENSE        
Interest on long-term debt 146 148 293 298
Other interest 7 4 14 6
Allowance for borrowed funds used during construction (1) (3) (3) (5)
NET INTEREST EXPENSE 152 149 304 299
INCOME BEFORE INCOME TAX EXPENSE 251 292 735 643
INCOME TAX EXPENSE 83 106 252 228
NET INCOME 168 186 483 415
Preferred stock dividend requirements of subsidiary (3) (3) (6) (6)
NET INCOME FOR COMMON STOCK 165 183 477 409
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
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK $ 0.600 $ 0.595 $ 1.200 $ 1.190
AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC (IN MILLIONS) 292.7 282.0 292.3 281.7
AVERAGE NUMBER OF SHARES OUTSTANDING - DILUTED (IN MILLIONS) 294.3 283.5 293.9 283.2
CECONY [Member]
       
OPERATING REVENUES        
Electric 2,013 2,104 3,734 3,832
Gas 296 239 959 922
Steam 107 89 432 396
TOTAL OPERATING REVENUES 2,416 2,432 5,125 5,150
OPERATING EXPENSES        
Purchased power 621 787 1,104 1,339
Fuel 68 87 244 237
Gas purchased for resale 92 51 355 345
Other operations and maintenance 631 588 1,227 1,195
Depreciation and amortization 205 196 410 388
Taxes, other than income taxes 429 389 868 800
TOTAL OPERATING EXPENSES 2,046 2,098 4,208 4,304
OPERATING INCOME 370 334 917 846
OTHER INCOME (DEDUCTIONS)        
Investment and other income 4 14 9 18
Allowance for equity funds used during construction 2 4 5 8
Other deductions (6) (6) (9) (9)
TOTAL OTHER INCOME (DEDUCTIONS)   12 5 17
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 370 346 922 863
INTEREST EXPENSE        
Interest on long-term debt 131 133 263 268
Other interest 5 5 10 8
Allowance for borrowed funds used during construction (1) (2) (3) (4)
NET INTEREST EXPENSE 135 136 270 272
INCOME BEFORE INCOME TAX EXPENSE 235 210 652 591
INCOME TAX EXPENSE 75 72 220 207
NET INCOME 160 138 432 384
Preferred stock dividend requirements of subsidiary (3) (3) (6) (6)
NET INCOME FOR COMMON STOCK $ 157 $ 135 $ 426 $ 378