Pension Benefits

9 Months Ended

Sep. 30, 2012

Pension Benefits

Note E — Pension Benefits

Net Periodic Benefit Cost

The components of the Companies’ net periodic benefit costs for the three and nine months ended September 30, 2012 and 2011 were as follows:

	For the Three Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2012			2011			2012			2011
Service cost – including administrative expenses		$   59			$   48			$   55			$   45
Interest cost on projected benefit obligation		137			140			128			131
Expected return on plan assets		(176	)		(184	)		(168	)		(174	)
Amortization of net actuarial loss		177			133			168			126
Amortization of prior service costs		2			2			2			—
NET PERIODIC BENEFIT COST		$ 199			$ 139			$ 185			$ 128
Cost capitalized		(64	)		(45	)		(60	)		(42	)
Reconciliation to rate level		—			(11	)		(1	)		(11	)
Cost charged to operating expenses		$ 135			$   83			$ 124			$   75

	For the Nine Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2012			2011			2012			2011
Service cost – including administrative expenses		$ 177			$ 142			$ 165			$ 133
Interest cost on projected benefit obligation		410			420			385			393
Expected return on plan assets		(528	)		(550	)		(503	)		(524	)
Amortization of net actuarial loss		531			397			503			376
Amortization of prior service costs		6			6			4			4
NET PERIODIC BENEFIT COST		$ 596			$ 415			$ 554			$ 382
Amortization of regulatory asset		1			1			1			1
TOTAL PERIODIC BENEFIT COST		$ 597			$ 416			$ 555			$ 383
Cost capitalized		(200	)		(141	)		(186	)		(131	)
Reconciliation to rate level		(37	)		(68	)		(36	)		(70	)
Cost charged to operating expenses		$ 360			$ 207			$ 333			$ 182

Expected Contributions

The Companies made contributions to the pension plan during 2012 of $775 million (of which $721 million was contributed by CECONY). The Companies’ policy is to fund their pension plan’s accounting cost to the extent tax deductible. During the first nine months of 2012, CECONY also funded $12 million for the non-qualified supplemental plan.

CECONY [Member]

Pension Benefits

Note E — Pension Benefits

Net Periodic Benefit Cost

The components of the Companies’ net periodic benefit costs for the three and nine months ended September 30, 2012 and 2011 were as follows:

	For the Three Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2012			2011			2012			2011
Service cost – including administrative expenses		$   59			$   48			$   55			$   45
Interest cost on projected benefit obligation		137			140			128			131
Expected return on plan assets		(176	)		(184	)		(168	)		(174	)
Amortization of net actuarial loss		177			133			168			126
Amortization of prior service costs		2			2			2			—
NET PERIODIC BENEFIT COST		$ 199			$ 139			$ 185			$ 128
Cost capitalized		(64	)		(45	)		(60	)		(42	)
Reconciliation to rate level		—			(11	)		(1	)		(11	)
Cost charged to operating expenses		$ 135			$   83			$ 124			$   75

	For the Nine Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2012			2011			2012			2011
Service cost – including administrative expenses		$ 177			$ 142			$ 165			$ 133
Interest cost on projected benefit obligation		410			420			385			393
Expected return on plan assets		(528	)		(550	)		(503	)		(524	)
Amortization of net actuarial loss		531			397			503			376
Amortization of prior service costs		6			6			4			4
NET PERIODIC BENEFIT COST		$ 596			$ 415			$ 554			$ 382
Amortization of regulatory asset		1			1			1			1
TOTAL PERIODIC BENEFIT COST		$ 597			$ 416			$ 555			$ 383
Cost capitalized		(200	)		(141	)		(186	)		(131	)
Reconciliation to rate level		(37	)		(68	)		(36	)		(70	)
Cost charged to operating expenses		$ 360			$ 207			$ 333			$ 182

Expected Contributions

The Companies made contributions to the pension plan during 2012 of $775 million (of which $721 million was contributed by CECONY). The Companies’ policy is to fund their pension plan’s accounting cost to the extent tax deductible. During the first nine months of 2012, CECONY also funded $12 million for the non-qualified supplemental plan.