Pension Benefits

3 Months Ended

Mar. 31, 2013

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, 2013 and 2012 were as follows:

	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost – including administrative expenses		$   67			$   59			$   62			$   55
Interest cost on projected benefit obligation		134			137			126			128
Expected return on plan assets		(187	)		(176	)		(178	)		(168	)
Recognition of net actuarial loss		208			177			197			168
Recognition of prior service costs		1			2			1			2
NET PERIODIC BENEFIT COST		$ 223			$ 199			$ 208			$ 185
Cost capitalized		(82	)		(64	)		(79	)		(63	)
Reconciliation to rate level		11			(37	)		13			(38	)
Cost charged to operating expenses		$ 152			$   98			$ 142			$   84

Expected Contributions

Based on estimates as of March 31, 2013, the Companies expect to make contributions to the pension plan during 2013 of $867 million (of which $810 million is to be contributed by CECONY). The Companies’ policy is to fund their accounting cost to the extent tax deductible. During the first quarter of 2013, CECONY contributed $235 million to the pension plan. The Companies expect to fund $11 million for the non-qualified supplemental plans in 2013.

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, 2013 and 2012 were as follows:

	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost – including administrative expenses		$   67			$   59			$   62			$   55
Interest cost on projected benefit obligation		134			137			126			128
Expected return on plan assets		(187	)		(176	)		(178	)		(168	)
Recognition of net actuarial loss		208			177			197			168
Recognition of prior service costs		1			2			1			2
NET PERIODIC BENEFIT COST		$ 223			$ 199			$ 208			$ 185
Cost capitalized		(82	)		(64	)		(79	)		(63	)
Reconciliation to rate level		11			(37	)		13			(38	)
Cost charged to operating expenses		$ 152			$   98			$ 142			$   84

Expected Contributions

Based on estimates as of March 31, 2013, the Companies expect to make contributions to the pension plan during 2013 of $867 million (of which $810 million is to be contributed by CECONY). The Companies’ policy is to fund their accounting cost to the extent tax deductible. During the first quarter of 2013, CECONY contributed $235 million to the pension plan. The Companies expect to fund $11 million for the non-qualified supplemental plans in 2013.