Pension Benefits

9 Months Ended

Sep. 30, 2013

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, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	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
Amortization of regulatory asset		1			—			1			—
TOTAL PERIODIC BENEFIT COST		$ 224			$ 199			$ 209			$ 185
Cost capitalized		(86	)		(64	)		(78	)		(60	)
Reconciliation to rate level		(31	)		—			(34	)		(1	)
Cost charged to operating expenses		$ 107			$ 135			$   97			$ 124

	For the Nine Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost – including administrative expenses		$ 200			$ 177			$ 186			$ 165
Interest cost on projected benefit obligation		403			410			377			385
Expected return on plan assets		(563	)		(528	)		(534	)		(503	)
Recognition of net actuarial loss		624			531			591			503
Recognition of prior service costs		4			6			3			4
NET PERIODIC BENEFIT COST		$ 668			$ 596			$ 623			$ 554
Amortization of regulatory asset		2			1			2			1
TOTAL PERIODIC BENEFIT COST		$ 670			$ 597			$ 625			$ 555
Cost capitalized		(256	)		(200	)		(241	)		(186	)
Reconciliation to rate level		(55	)		(37	)		(56	)		(36	)
Cost charged to operating expenses		$ 359			$ 360			$ 328			$ 333

Contributions

The Companies made contributions to the pension plan during 2013 of $867 million (of which $810 million was contributed by CECONY). The Companies’ policy is to fund their accounting cost to the extent tax deductible. During the first nine months of 2013, CECONY also funded $11 million for the non-qualified supplemental plans.

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, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	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
Amortization of regulatory asset		1			—			1			—
TOTAL PERIODIC BENEFIT COST		$ 224			$ 199			$ 209			$ 185
Cost capitalized		(86	)		(64	)		(78	)		(60	)
Reconciliation to rate level		(31	)		—			(34	)		(1	)
Cost charged to operating expenses		$ 107			$ 135			$   97			$ 124

	For the Nine Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost – including administrative expenses		$ 200			$ 177			$ 186			$ 165
Interest cost on projected benefit obligation		403			410			377			385
Expected return on plan assets		(563	)		(528	)		(534	)		(503	)
Recognition of net actuarial loss		624			531			591			503
Recognition of prior service costs		4			6			3			4
NET PERIODIC BENEFIT COST		$ 668			$ 596			$ 623			$ 554
Amortization of regulatory asset		2			1			2			1
TOTAL PERIODIC BENEFIT COST		$ 670			$ 597			$ 625			$ 555
Cost capitalized		(256	)		(200	)		(241	)		(186	)
Reconciliation to rate level		(55	)		(37	)		(56	)		(36	)
Cost charged to operating expenses		$ 359			$ 360			$ 328			$ 333

Contributions

The Companies made contributions to the pension plan during 2013 of $867 million (of which $810 million was contributed by CECONY). The Companies’ policy is to fund their accounting cost to the extent tax deductible. During the first nine months of 2013, CECONY also funded $11 million for the non-qualified supplemental plans.