Pension Benefits

3 Months Ended

Mar. 31, 2014

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, 2014 and 2013 were as follows:

	Con Edison						CECONY
(Millions of Dollars)	2014			2013			2014			2013
Service cost – including administrative expenses		$    57			$    67			$    53			$    62
Interest cost on projected benefit obligation		143			134			134			126
Expected return on plan assets		(208	)		(187	)		(197	)		(178	)
Recognition of net actuarial loss		154			208			146			197
Recognition of prior service costs		1			1			1			1
NET PERIODIC BENEFIT COST		$ 147			$ 223			$ 137			$ 208
Cost capitalized		(51	)		(82	)		(49	)		(79	)
Reconciliation to rate level		26			11			23			13
Cost charged to operating expenses		$ 122			$ 152			$ 111			$ 142

Expected Contributions

Based on estimates as of March 31, 2014, the Companies expect to make contributions to the pension plan during 2014 of $564 million (of which $524 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 2014, CECONY contributed $200 million to the pension plan. The Companies expect to fund $13 million for the non-qualified supplemental plans in 2014.

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, 2014 and 2013 were as follows:

	Con Edison						CECONY
(Millions of Dollars)	2014			2013			2014			2013
Service cost – including administrative expenses		$    57			$    67			$    53			$    62
Interest cost on projected benefit obligation		143			134			134			126
Expected return on plan assets		(208	)		(187	)		(197	)		(178	)
Recognition of net actuarial loss		154			208			146			197
Recognition of prior service costs		1			1			1			1
NET PERIODIC BENEFIT COST		$ 147			$ 223			$ 137			$ 208
Cost capitalized		(51	)		(82	)		(49	)		(79	)
Reconciliation to rate level		26			11			23			13
Cost charged to operating expenses		$ 122			$ 152			$ 111			$ 142

Expected Contributions

Based on estimates as of March 31, 2014, the Companies expect to make contributions to the pension plan during 2014 of $564 million (of which $524 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 2014, CECONY contributed $200 million to the pension plan. The Companies expect to fund $13 million for the non-qualified supplemental plans in 2014.