Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2013

Stock-Based Compensation Expense

The following table summarizes stock-based compensation expense recognized by the Companies in the years ended December 31, 2013, 2012, and 2011:

	Con Edison						CECONY
(Millions of Dollars)	2013		2012		2011		2013		2012		2011
Performance-based restricted stock	$	20	$	14	$	48	$	18	$	13	$	44
Time-based restricted stock		2		1		3		2		1		3
Non-employee director deferred stock compensation		2		1		1		2		1		1
Total	$	24	$	16	$	52	$	22	$	15	$	48
Income Tax Benefit	$	10	$	6	$	21	$	9	$	6	$	20

Summary of Status of Stock Options Awarded

A summary of changes in the status of stock options awarded as of December 31, 2013 is as follows:

	Con Edison					CECONY
	Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Outstanding at 12/31/12		606,475		$	43.008		481,175		$	42.973
Exercised		(123,165	)		41.539		(98,165	)		41.553
Forfeited		(2,000	)		43.170		(2,000	)		43.170
Outstanding at 12/31/13		481,310		$	43.383		381,010		$	43.338

Summary of Stock Options Outstanding

The following table summarizes stock options outstanding at December 31, 2013 for each plan year for the Companies:

			Con Edison				CECONY
Plan Year	Remaining Contractual Life		Options Outstanding/ Exercisable		Weighted Average Exercise Price		Options Outstanding/ Exercisable		Weighted Average Exercise Price
2006		2		201,700	$	43.768		165,100	$	43.705
2005		1		150,410		42.252		122,810		42.268
2004		<1		129,200		44.100		93,100		44.100
Total				481,310	$	43.383		381,010	$	43.338

Assumptions Used to Calculate Fair Value

The following table illustrates the assumptions used to calculate the fair value of the awards:

	2013
Risk-free interest rate		0.13% - 5.17%
Expected term		3 years
Expected volatility		13.52%

Time Based Awards [Member]

Summary of Changes in Status of Time-Based Awards

A summary of changes in the status of time-based awards during the year ended December 31, 2013 is as follows:

	Con Edison					CECONY
	Units			Weighted Average Grant Date Fair Value		Units			Weighted Average Grant Date Fair Value
Non-vested at 12/31/12		65,140		$	51.339		61,690		$	51.334
Granted		25,490			60.990		24,290			60.988
Vested		(22,538	)		45.432		(21,438	)		45.478
Forfeited		(1,512	)		56.255		(1,512	)		56.255
Non-vested at 12/31/13		66,580		$	56.921		63,030		$	56.928

TSR Portion [Member]

Summary of Changes in Status of Performance RSUs'

A summary of changes in the status of the Performance RSUs’ TSR portion during the year ended December 31, 2013 is as follows:

	Con Edison					CECONY
	Units			Weighted Average Grant Date Fair Value*		Units			Weighted Average Grant Date Fair Value*
Non-vested at 12/31/12		618,910		$	44.659		502,701		$	44.681
Granted		231,435			55.121		174,019			55.620
Vested		(221,695	)		41.340		(178,549	)		41.340
Forfeited		(67,851	)		52.669		(49,645	)		52.592
Non-vested at 12/31/13		560,799		$	49.319		448,526		$	49.377

EIP Portion [Member]

Summary of Changes in Status of Performance RSUs'

A summary of changes in the status of the Performance RSUs’ EIP portion during the year ended December 31, 2013 is as follows:

	Con Edison					CECONY
	Units			Weighted Average Grant Date Fair Value*		Units			Weighted Average Grant Date Fair Value*
Non-vested at 12/31/12		618,910		$	50.738		502,701		$	50.783
Granted		231,435			57.829		174,019			58.188
Vested		(221,695	)		44.540		(178,549	)		44.540
Forfeited		(67,851	)		57.359		(49,645	)		57.322
Non-vested at 12/31/13		560,799		$	55.314		448,526		$	55.416

* Fair value is determined using the market price of one share of Con Edison common stock on the grant date. The market price has not been discounted to reflect that dividends do not accrue and are not payable on Performance RSUs until vesting.