Summary Of Significant Accounting Policies

9 Months Ended

Sep. 30, 2011

Summary Of Significant Accounting Policies

Note A — Summary of Significant Accounting Policies

Earnings Per Common Share

For the three and nine months ended September 30, 2011 and 2010, Con Edison's basic and diluted EPS for Con Edison are calculated as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(Millions of Dollars, except per share amounts/Shares in Millions)	2011		2010		2011		2010
Net income for common stock	$	383	$	350	$	860	$	759
Weighted average common shares outstanding – Basic		292.9		283.0		292.5		282.2
Add: Incremental shares attributable to effect of potentially dilutive securities		1.7		1.6		1.7		1.5
Adjusted weighted average common shares outstanding – Diluted		294.6		284.6		294.2		283.7
Net income for common stock per common share – basic	$	1.31	$	1.24	$	2.94	$	2.69
Net income for common stock per common share – diluted	$	1.30	$	1.23	$	2.92	$	2.68

CECONY [Member]

Summary Of Significant Accounting Policies

Note A — Summary of Significant Accounting Policies

Earnings Per Common Share

For the three and nine months ended September 30, 2011 and 2010, Con Edison's basic and diluted EPS for Con Edison are calculated as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(Millions of Dollars, except per share amounts/Shares in Millions)	2011		2010		2011		2010
Net income for common stock	$	383	$	350	$	860	$	759
Weighted average common shares outstanding – Basic		292.9		283.0		292.5		282.2
Add: Incremental shares attributable to effect of potentially dilutive securities		1.7		1.6		1.7		1.5
Adjusted weighted average common shares outstanding – Diluted		294.6		284.6		294.2		283.7
Net income for common stock per common share – basic	$	1.31	$	1.24	$	2.94	$	2.69
Net income for common stock per common share – diluted	$	1.30	$	1.23	$	2.92	$	2.68