Financial Information by Business Segment

12 Months Ended

Dec. 31, 2014

Financial Information by Business Segment

Note N – Financial Information by Business Segment

The business segments of each of the Companies, which are its operating segments, were determined based on management’s reporting and decision-making requirements in accordance with the accounting rules for segment reporting.

Con Edison’s principal business segments are CECONY’s regulated utility activities, O&R’s regulated utility activities and Con Edison’s competitive energy businesses. CECONY’s principal business segments are its regulated electric, gas and steam utility activities.

All revenues of these business segments are from customers located in the United States of America. Also, all assets of the business segments are located in the United States of America. The accounting policies of the segments are the same as those described in Note A.

Common services shared by the business segments are assigned directly or allocated based on various cost factors, depending on the nature of the service provided.

The financial data for the business segments are as follows:

As of and for the Year Ended December 31, 2014 (Millions of Dollars)	Operating revenues			Inter- segment revenues			Depreciation and amortization			Operating income			Interest charges			Income taxes on operating income(a)			Total assets(b)		Construction expenditures
CECONY
Electric	$	8,437		$	16		$	781		$	1,712		$	412		$	425		$	30,421	$	1,500
Gas		1,721			6			132			314			89			88			6,530		549
Steam		628			84			78			113			36			49			2,686		83
Consolidation adjustments		-			(106	)		-			-			-			-			-		-
Total CECONY	$	10,786		$	-		$	991		$	2,139		$	537		$	562		$	39,637	$	2,132
O&R
Electric	$	680		$	-		$	46		$	103		$	24		$	29		$	2,042	$	105
Gas		212			-			15			25			10			6			794		37
Other(b)		-			-			-			-			1			-			1		-
Total O&R	$	892		$	-		$	61		$	128		$	35		$	35		$	2,837	$	142
Competitive energy businesses	$	1,244		$	(10	)	$	19		$	(60	)	$	(8	)	$	(8	)	$	1,026	$	447
Other(c)		(3	)		10			-			2			27			-			808		-
Total Con Edison	$	12,919		$	-		$	1,071		$	2,209		$	591		$	589		$	44,308	$	2,721
As of and for the Year Ended December 31, 2013 (Millions of Dollars)	Operating revenues			Inter- segment revenues			Depreciation and amortization			Operating income			Interest charges			Income taxes on operating income(a)			Total assets(b)		Construction expenditures
CECONY
Electric	$	8,131		$	16		$	749		$	1,595		$	402		$	380		$	27,673	$	1,471
Gas		1,616			5			130			362			83			112			6,008		536
Steam		683			82			67			103			36			39			2,577		128
Consolidation adjustments		-			(103	)		-			-			-			-			-		-
Total CECONY	$	10,430		$	-		$	946		$	2,060		$	521		$	531		$	36,258	$	2,135
O&R
Electric	$	628		$	-		$	41		$	87		$	25		$	13		$	1,898	$	98
Gas		205			-			15			33			11			7			645		37
Other(b)		-			-			-			-			1			-			2		-
Total O&R	$	833		$	-		$	56		$	120		$	37		$	20		$	2,545	$	135
Competitive energy businesses	$	1,096		$	5		$	23		$	63		$	135		$	(41	)	$	1,314	$	378
Other(c)		(5	)		(5	)		(1	)		1			26			(6	)		530		-
Total Con Edison	$	12,354		$	-		$	1,024		$	2,244		$	719		$	504		$	40,647	$	2,648
As of and for the Year Ended December 31, 2012 (Millions of Dollars)	Operating revenues			Inter- segment revenues			Depreciation and amortization			Operating income			Interest charges			Income taxes on operating income(a)			Total assets(b)		Construction expenditures
CECONY
Electric	$	8,176		$	15		$	710		$	1,693		$	423		$	393		$	28,339	$	1,375
Gas		1,415			5			120			346			82			99			5,925		426
Steam		596			77			64			54			40			22			2,621		108
Consolidation adjustments		-			(97	)		-			-			-			-			-		-
Total CECONY	$	10,187		$	-		$	894		$	2,093		$	545		$	514		$	36,885	$	1,909
O&R
Electric	$	592		$	-		$	38		$	83		$	19		$	17		$	1,960	$	98
Gas		203			-			15			40			10			11			706		39
Other(b)		-			-			-			-			2			-			5		-
Total O&R	$	795		$	-		$	53		$	123		$	31		$	28		$	2,671	$	137
Competitive energy businesses	$	1,213		$	8		$	8		$	125		$	1		$	52		$	1,061	$	492
Other(c)		(7	)		(8	)		-			(2	)		27			-			592		-
Total Con Edison	$	12,188		$	-		$	955		$	2,339		$	604		$	594		$	41,209	$	2,538

(a) For Con Edison, income taxes on non-operating income were $(21), $(28) and $6 million in 2014, 2013 and 2012, respectively. For CECONY, income taxes on non-operating income were $(7), $(11) and $15 million in 2014, 2013 and 2012, respectively.

(b) Includes amounts related to the RECO securitization.

(c) Parent company and consolidation adjustments. Other does not represent a business segment.

CECONY [Member]

Financial Information by Business Segment

Note N – Financial Information by Business Segment

The business segments of each of the Companies, which are its operating segments, were determined based on management’s reporting and decision-making requirements in accordance with the accounting rules for segment reporting.

Con Edison’s principal business segments are CECONY’s regulated utility activities, O&R’s regulated utility activities and Con Edison’s competitive energy businesses. CECONY’s principal business segments are its regulated electric, gas and steam utility activities.

All revenues of these business segments are from customers located in the United States of America. Also, all assets of the business segments are located in the United States of America. The accounting policies of the segments are the same as those described in Note A.

Common services shared by the business segments are assigned directly or allocated based on various cost factors, depending on the nature of the service provided.

The financial data for the business segments are as follows:

As of and for the Year Ended December 31, 2014 (Millions of Dollars)	Operating revenues			Inter- segment revenues			Depreciation and amortization			Operating income			Interest charges			Income taxes on operating income(a)			Total assets(b)		Construction expenditures
CECONY
Electric	$	8,437		$	16		$	781		$	1,712		$	412		$	425		$	30,421	$	1,500
Gas		1,721			6			132			314			89			88			6,530		549
Steam		628			84			78			113			36			49			2,686		83
Consolidation adjustments		-			(106	)		-			-			-			-			-		-
Total CECONY	$	10,786		$	-		$	991		$	2,139		$	537		$	562		$	39,637	$	2,132
O&R
Electric	$	680		$	-		$	46		$	103		$	24		$	29		$	2,042	$	105
Gas		212			-			15			25			10			6			794		37
Other(b)		-			-			-			-			1			-			1		-
Total O&R	$	892		$	-		$	61		$	128		$	35		$	35		$	2,837	$	142
Competitive energy businesses	$	1,244		$	(10	)	$	19		$	(60	)	$	(8	)	$	(8	)	$	1,026	$	447
Other(c)		(3	)		10			-			2			27			-			808		-
Total Con Edison	$	12,919		$	-		$	1,071		$	2,209		$	591		$	589		$	44,308	$	2,721
As of and for the Year Ended December 31, 2013 (Millions of Dollars)	Operating revenues			Inter- segment revenues			Depreciation and amortization			Operating income			Interest charges			Income taxes on operating income(a)			Total assets(b)		Construction expenditures
CECONY
Electric	$	8,131		$	16		$	749		$	1,595		$	402		$	380		$	27,673	$	1,471
Gas		1,616			5			130			362			83			112			6,008		536
Steam		683			82			67			103			36			39			2,577		128
Consolidation adjustments		-			(103	)		-			-			-			-			-		-
Total CECONY	$	10,430		$	-		$	946		$	2,060		$	521		$	531		$	36,258	$	2,135
O&R
Electric	$	628		$	-		$	41		$	87		$	25		$	13		$	1,898	$	98
Gas		205			-			15			33			11			7			645		37
Other(b)		-			-			-			-			1			-			2		-
Total O&R	$	833		$	-		$	56		$	120		$	37		$	20		$	2,545	$	135
Competitive energy businesses	$	1,096		$	5		$	23		$	63		$	135		$	(41	)	$	1,314	$	378
Other(c)		(5	)		(5	)		(1	)		1			26			(6	)		530		-
Total Con Edison	$	12,354		$	-		$	1,024		$	2,244		$	719		$	504		$	40,647	$	2,648
As of and for the Year Ended December 31, 2012 (Millions of Dollars)	Operating revenues			Inter- segment revenues			Depreciation and amortization			Operating income			Interest charges			Income taxes on operating income(a)			Total assets(b)		Construction expenditures
CECONY
Electric	$	8,176		$	15		$	710		$	1,693		$	423		$	393		$	28,339	$	1,375
Gas		1,415			5			120			346			82			99			5,925		426
Steam		596			77			64			54			40			22			2,621		108
Consolidation adjustments		-			(97	)		-			-			-			-			-		-
Total CECONY	$	10,187		$	-		$	894		$	2,093		$	545		$	514		$	36,885	$	1,909
O&R
Electric	$	592		$	-		$	38		$	83		$	19		$	17		$	1,960	$	98
Gas		203			-			15			40			10			11			706		39
Other(b)		-			-			-			-			2			-			5		-
Total O&R	$	795		$	-		$	53		$	123		$	31		$	28		$	2,671	$	137
Competitive energy businesses	$	1,213		$	8		$	8		$	125		$	1		$	52		$	1,061	$	492
Other(c)		(7	)		(8	)		-			(2	)		27			-			592		-
Total Con Edison	$	12,188		$	-		$	955		$	2,339		$	604		$	594		$	41,209	$	2,538

(a) For Con Edison, income taxes on non-operating income were $(21), $(28) and $6 million in 2014, 2013 and 2012, respectively. For CECONY, income taxes on non-operating income were $(7), $(11) and $15 million in 2014, 2013 and 2012, respectively.

(b) Includes amounts related to the RECO securitization.

(c) Parent company and consolidation adjustments. Other does not represent a business segment.