Financial Information By Business Segment

12 Months Ended

Dec. 31, 2011

Financial Information By Business Segment

Note N — Financial Information by Business Segment

The business segments of each of the Companies, which are its operating segments, were determined based on management's reporting and decision-making requirements in accordance with the accounting rules for segment reporting.

Con Edison's principal business segments are CECONY's regulated utility activities, O&R's regulated utility activities and Con Edison's competitive energy businesses. CECONY's principal business segments are its regulated electric, gas and steam utility activities.

All revenues of these business segments, excluding revenues earned by Con Edison Development on certain energy infrastructure projects, which are deemed to be immaterial, are from customers located in the United States of America. Also, all assets of the business segments, excluding certain investments in energy infrastructure projects by Con Edison Development ($234 million at December 31, 2011), are located in the United States of America. The accounting policies of the segments are the same as those described in Note A.

Common services shared by the business segments are assigned directly or allocated based on various cost factors, depending on the nature of the service provided.

The financial data for the business segments are as follows:

As of and for the Year Ended December 31, 2011 (millions of dollars)	Operating revenues			Inter-segment revenues			Depreciation and amortization		Operating income			Interest charges			Income tax expense		Total assets*		Construction expenditures
CECONY
Electric	$	8,280		$	12		$	656	$	1,695		$	414		$	481	$	27,123	$	1,354
Gas		1,521			5			110		295			78			43		5,518		335
Steam		683			79			63		93			42			43		2,577		89
Consolidation adjustments		—			(96	)		—		—			—			—		—		—
Total CECONY	$	10,484		$	—		$	829	$	2,083		$	534		$	567	$	35,218	$	1,778
O&R
Electric	$	641		$	—		$	35	$	81		$	20		$	21	$	1,755	$	79
Gas		214			—			13		33			12			9		722		32
Other*		—			—			—		—			2			—		8		—
Total O&R	$	855		$	—		$	48	$	114		$	34		$	30	$	2,485	$	111
Competitive energy businesses	$	1,617		$	13		$	7	$	46		$	(1	)	$	20	$	856	$	114
Other**		(18	)		(13	)		—		(4	)		27			—		655		—
Total Con Edison	$	12,938		$	—		$	884	$	2,239		$	594		$	617	$	39,214	$	2,003

As of and for the Year Ended December 31, 2010 (millions of dollars)		Operating revenues			Inter-segment revenues			Depreciation and amortization		Operating income			Interest charges			Income tax expense		Total assets*		Construction expenditures
CECONY
Electric	$	8,376		$	12		$	623	$	1,549		$	424		$	371	$	25,045	$	1,421
Gas		1,541			5			102		310			82			91		5,095		334
Steam		656			74			62		63			43			29		2,465		111
Consolidation adjustments		—			(91	)		—		—			—			—		—		—
Total CECONY	$	10,573		$	—		$	787	$	1,922		$	549		$	491	$	32,605	$	1,866
O&R
Electric	$	692		$	—		$	32	$	74		$	22		$	18	$	1,630	$	99
Gas		218			—			12		34			12			8		686		36
Other*		—			—			—		—			1			—		32		—
Total O&R	$	910		$	—		$	44	$	108		$	35		$	26	$	2,348	$	135
Competitive energy businesses	$	1,883		$	9		$	9	$	97		$	(3	)	$	37	$	828	$	28
Other**		(41	)		(9	)		—		(7	)		28			—		567		—
Total Con Edison	$	13,325		$	—		$	840	$	2,120		$	609		$	554	$	36,348	$	2,029

As of and for the Year Ended December 31, 2009 (millions of dollars)		Operating revenues			Inter-segment revenues			Depreciation and amortization		Operating income			Interest charges		Income tax expense		Total assets*		Construction expenditures
CECONY
Electric	$	7,674		$	12		$	587	$	1,368		$	425	$	300	$	23,309	$	1,596
Gas		1,701			5			98		309			82		90		4,796		339
Steam		661			73			59		39			46		12		2,356		122
Consolidation adjustments		—			(90	)		—		—			—		—		—		—
Total CECONY	$	10,036		$	—		$	744	$	1,716		$	553	$	402	$	30,461	$	2,057
O&R
Electric	$	648		$	—		$	30	$	64		$	18	$	15	$	1,525	$	85
Gas		242			—			12		28			9		7		627		42
Other*		—			—			—		—			2		—		35		—
Total O&R	$	890		$	—		$	42	$	92		$	29	$	22	$	2,187	$	127
Competitive energy businesses	$	2,147		$	—		$	5	$	93		$	—	$	31	$	751	$	10
Other**		(41	)		—			—		(3	)		29		—		445		—
Total Con Edison	$	13,032		$	—		$	791	$	1,899		$	611	$	455	$	33,844	$	2,194

* Includes amounts related to the RECO securitization.

** Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.

CECONY [Member]

Financial Information By Business Segment

Note N — Financial Information by Business Segment

The business segments of each of the Companies, which are its operating segments, were determined based on management's reporting and decision-making requirements in accordance with the accounting rules for segment reporting.

Con Edison's principal business segments are CECONY's regulated utility activities, O&R's regulated utility activities and Con Edison's competitive energy businesses. CECONY's principal business segments are its regulated electric, gas and steam utility activities.

All revenues of these business segments, excluding revenues earned by Con Edison Development on certain energy infrastructure projects, which are deemed to be immaterial, are from customers located in the United States of America. Also, all assets of the business segments, excluding certain investments in energy infrastructure projects by Con Edison Development ($234 million at December 31, 2011), are located in the United States of America. The accounting policies of the segments are the same as those described in Note A.

Common services shared by the business segments are assigned directly or allocated based on various cost factors, depending on the nature of the service provided.

The financial data for the business segments are as follows:

As of and for the Year Ended December 31, 2011 (millions of dollars)	Operating revenues			Inter-segment revenues			Depreciation and amortization		Operating income			Interest charges			Income tax expense		Total assets*		Construction expenditures
CECONY
Electric	$	8,280		$	12		$	656	$	1,695		$	414		$	481	$	27,123	$	1,354
Gas		1,521			5			110		295			78			43		5,518		335
Steam		683			79			63		93			42			43		2,577		89
Consolidation adjustments		—			(96	)		—		—			—			—		—		—
Total CECONY	$	10,484		$	—		$	829	$	2,083		$	534		$	567	$	35,218	$	1,778
O&R
Electric	$	641		$	—		$	35	$	81		$	20		$	21	$	1,755	$	79
Gas		214			—			13		33			12			9		722		32
Other*		—			—			—		—			2			—		8		—
Total O&R	$	855		$	—		$	48	$	114		$	34		$	30	$	2,485	$	111
Competitive energy businesses	$	1,617		$	13		$	7	$	46		$	(1	)	$	20	$	856	$	114
Other**		(18	)		(13	)		—		(4	)		27			—		655		—
Total Con Edison	$	12,938		$	—		$	884	$	2,239		$	594		$	617	$	39,214	$	2,003

As of and for the Year Ended December 31, 2010 (millions of dollars)		Operating revenues			Inter-segment revenues			Depreciation and amortization		Operating income			Interest charges			Income tax expense		Total assets*		Construction expenditures
CECONY
Electric	$	8,376		$	12		$	623	$	1,549		$	424		$	371	$	25,045	$	1,421
Gas		1,541			5			102		310			82			91		5,095		334
Steam		656			74			62		63			43			29		2,465		111
Consolidation adjustments		—			(91	)		—		—			—			—		—		—
Total CECONY	$	10,573		$	—		$	787	$	1,922		$	549		$	491	$	32,605	$	1,866
O&R
Electric	$	692		$	—		$	32	$	74		$	22		$	18	$	1,630	$	99
Gas		218			—			12		34			12			8		686		36
Other*		—			—			—		—			1			—		32		—
Total O&R	$	910		$	—		$	44	$	108		$	35		$	26	$	2,348	$	135
Competitive energy businesses	$	1,883		$	9		$	9	$	97		$	(3	)	$	37	$	828	$	28
Other**		(41	)		(9	)		—		(7	)		28			—		567		—
Total Con Edison	$	13,325		$	—		$	840	$	2,120		$	609		$	554	$	36,348	$	2,029

As of and for the Year Ended December 31, 2009 (millions of dollars)		Operating revenues			Inter-segment revenues			Depreciation and amortization		Operating income			Interest charges		Income tax expense		Total assets*		Construction expenditures
CECONY
Electric	$	7,674		$	12		$	587	$	1,368		$	425	$	300	$	23,309	$	1,596
Gas		1,701			5			98		309			82		90		4,796		339
Steam		661			73			59		39			46		12		2,356		122
Consolidation adjustments		—			(90	)		—		—			—		—		—		—
Total CECONY	$	10,036		$	—		$	744	$	1,716		$	553	$	402	$	30,461	$	2,057
O&R
Electric	$	648		$	—		$	30	$	64		$	18	$	15	$	1,525	$	85
Gas		242			—			12		28			9		7		627		42
Other*		—			—			—		—			2		—		35		—
Total O&R	$	890		$	—		$	42	$	92		$	29	$	22	$	2,187	$	127
Competitive energy businesses	$	2,147		$	—		$	5	$	93		$	—	$	31	$	751	$	10
Other**		(41	)		—			—		(3	)		29		—		445		—
Total Con Edison	$	13,032		$	—		$	791	$	1,899		$	611	$	455	$	33,844	$	2,194

* Includes amounts related to the RECO securitization.

** Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.