Pension Benefits

3 Months Ended

Mar. 31, 2012

Pension Benefits

Note E — Pension Benefits

Net Periodic Benefit Cost

The components of the Companies' net periodic benefit costs for the three months ended March 31, 2012 and 2011 were as follows:

	Con Edison						CECONY
(Millions of Dollars)	2012			2011			2012			2011
Service cost – including administrative expenses	$	59		$	47		$	55		$	44
Interest cost on projected benefit obligation		137			140			128			131
Expected return on plan assets		(176	)		(183	)		(168	)		(175	)
Amortization of net actuarial loss		177			132			168			125
Amortization of prior service costs		2			2			2			2
NET PERIODIC BENEFIT COST	$	199		$	138		$	185		$	127
Cost capitalized		(64	)		(48	)		(63	)		(45	)
Cost deferred		(37	)		(51	)		(38	)		(52	)
Cost charged to operating expenses	$	98		$	39		$	84		$	30

Expected Contributions

Based on estimates as of March 31, 2012, the Companies expect to make contributions to the pension plan during 2012 of $775 million (of which $721 million is to be contributed by CECONY). During the first quarter of 2012, CECONY contributed $184 million to the pension plan. The Companies expect to fund $12 million for the non-qualified supplemental plans in 2012. The Companies' policy is to fund their accounting cost to the extent tax deductible.

CECONY [Member]

Pension Benefits

Note E Pension Benefits

Net Periodic Benefit Cost

The components of the Companies' net periodic benefit costs for the three months ended March 31, 2012 and 2011 were as follows:

	Con Edison						CECONY
(Millions of Dollars)	2012			2011			2012			2011
Service cost including administrative expenses	$	59		$	47		$	55		$	44
Interest cost on projected benefit obligation		137			140			128			131
Expected return on plan assets		(176	)		(183	)		(168	)		(175	)
Amortization of net actuarial loss		177			132			168			125
Amortization of prior service costs		2			2			2			2
NET PERIODIC BENEFIT COST	$	199		$	138		$	185		$	127
Cost capitalized		(64	)		(48	)		(63	)		(45	)
Cost deferred		(37	)		(51	)		(38	)		(52	)
Cost charged to operating expenses	$	98		$	39		$	84		$	30

Expected Contributions

Based on estimates as of March 31, 2012, the Companies expect to make contributions to the pension plan during 2012 of $775 million (of which $721 million is to be contributed by CECONY). During the first quarter of 2012, CECONY contributed $184 million to the pension plan. The Companies expect to fund $12 million for the non-qualified supplemental plans in 2012. The Companies' policy is to fund their accounting cost to the extent tax deductible.