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Consolidated Income Statement - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
OPERATING REVENUES      
Electric $ 8,832 $ 9,114 $ 8,756
Gas 1,709 1,933 1,821
Steam 629 628 683
Non-utility 1,384 1,244 1,094
TOTAL OPERATING REVENUES 12,554 12,919 12,354
OPERATING EXPENSES      
Purchased power 2,973 3,417 3,099
Fuel 248 285 320
Gas purchased for resale 495 811 635
Other operations and maintenance 3,344 3,294 3,137
Depreciation and amortization 1,130 1,071 1,024
Taxes, other than income taxes 1,937 1,877 1,895
TOTAL OPERATING EXPENSES 10,127 10,755 10,110
Gain on sale of solar electric production projects 0 45 0
OPERATING INCOME 2,427 2,209 2,244
OTHER INCOME (DEDUCTIONS)      
Investment and other income 35 54 24
Allowance for equity funds used during construction 5 2 4
Other deductions (16) (14) (15)
TOTAL OTHER INCOME 24 42 13
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 2,451 2,251 2,257
INTEREST EXPENSE      
Interest on long-term debt 632 587 578
Other interest 24 5 143
Allowance for borrowed funds used during construction (3) (1) (2)
NET INTEREST EXPENSE 653 591 719
INCOME BEFORE INCOME TAX EXPENSE 1,798 1,660 1,538
INCOME TAX EXPENSE 605 568 476
NET INCOME $ 1,193 $ 1,092 $ 1,062
Net income per common share — basic (dollars per share) $ 4.07 $ 3.73 $ 3.62
Net income per common share — diluted (dollars per share) 4.05 3.71 3.61
DIVIDENDS DECLARED PER COMMON SHARE (dollars per share) $ 2.60 $ 2.52 $ 2.46
AVERAGE NUMBER OF SHARES OUTSTANDING — BASIC (IN MILLIONS) (shares) 293.0 292.9 292.9
AVERAGE NUMBER OF SHARES OUTSTANDING — DILUTED (IN MILLIONS) (shares) 294.4 294.0 294.4
CECONY      
OPERATING REVENUES      
Electric $ 8,172 $ 8,437 $ 8,131
Gas 1,527 1,721 1,616
Steam 629 628 683
TOTAL OPERATING REVENUES 10,328 10,786 10,430
OPERATING EXPENSES      
Purchased power 1,719 2,091 2,021
Fuel 248 285 320
Gas purchased for resale 337 609 532
Other operations and maintenance 2,881 2,873 2,735
Depreciation and amortization 1,040 991 946
Taxes, other than income taxes 1,856 1,798 1,816
TOTAL OPERATING EXPENSES 8,081 8,647 8,370
OPERATING INCOME 2,247 2,139 2,060
OTHER INCOME (DEDUCTIONS)      
Investment and other income 5 22 11
Allowance for equity funds used during construction 4 1 2
Other deductions (14) (12) (12)
TOTAL OTHER INCOME (5) 11 1
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 2,242 2,150 2,061
INTEREST EXPENSE      
Interest on long-term debt 567 523 511
Other interest 19 15 11
Allowance for borrowed funds used during construction (2) (1) (1)
NET INTEREST EXPENSE 584 537 521
INCOME BEFORE INCOME TAX EXPENSE 1,658 1,613 1,540
INCOME TAX EXPENSE 574 555 520
NET INCOME $ 1,084 $ 1,058 $ 1,020