Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

At December 31, 2015 and 2014, the capitalized cost of the Companies’ utility plant, net of accumulated depreciation, was as follows:



	Con Edison		CECONY
(Millions of Dollars)	2015	2014	2015	2014
Electric
Generation	$459	$451	$459	$451
Transmission	3,045	2,956	2,833	2,744
Distribution	17,244	16,361	16,394	15,531
Gas (a)	5,698	5,006	5,196	4,530
Steam	1,849	1,795	1,849	1,795
General	1,758	1,650	1,592	1,498
Held for future use	77	76	65	65
Construction work in progress	1,003	1,031	922	971
Net Utility Plant	$31,133	$29,326	$29,310	$27,585

(a) Primarily distribution.

Schedule of Total Excise Taxes Recorded in Operating Revenues

Total excise taxes (inclusive of gross receipts taxes) recorded in operating revenues were as follows:



	For the Years Ended December 31,
(Millions of Dollars)	2015	2014	2013
Con Edison	$354	$365	$354
CECONY	331	343	329

Research and Development Costs

Research and development costs were as follows:



	For the Years Ended December 31,
(Millions of Dollars)	2015	2014	2013
Con Edison	$23	$22	$18
CECONY	22	20	16

Earnings Per Common Share

Basic and diluted EPS for Con Edison are calculated as follows:



	For the Years Ended December 31,
(Millions of Dollars, except per share amounts/Shares in Millions)	2015	2014	2013
Net income	$1,193	$1,092	$1,062
Weighted average common shares outstanding – basic	293.0	292.9	292.9
Add: Incremental shares attributable to effect of potentially dilutive securities	1.4	1.1	1.5
Adjusted weighted average common shares outstanding – diluted	294.4	294.0	294.4
Net Income per common share – basic	$4.07	$3.73	$3.62
Net Income per common share – diluted	$4.05	$3.71	$3.61

Changes in Accumulated Other Comprehensive Income by Component

Changes to accumulated other comprehensive income (OCI) for Con Edison and CECONY are as follows:



(Millions of Dollars)	Con Edison	CECONY
Accumulated OCI, net of taxes, at December 31, 2013	$(25)	$(6)
OCI before reclassifications, net of tax of $18 and $4 for Con Edison and CECONY, respectively	(26)	(6)
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $(4) and $(1) for Con Edison and CECONY, respectively (a)(b)	6	1
Total OCI, net of taxes, at December 31, 2014	(20)	(5)
Accumulated OCI, net of taxes, at December 31, 2014 (a)	$(45)	$(11)
OCI before reclassifications, net of tax of $(3) for Con Edison	5	1
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $(4) and $(1) for Con Edison and CECONY, respectively (a)(b)	6	1
Total OCI, net of taxes, at December 31, 2015	11	2
Accumulated OCI, net of taxes, at December 31, 2015 (a)	$(34)	$(9)

(a) Tax reclassified from accumulated OCI is reported in the income tax expense line item of the income statement.

(b) For the portion of unrecognized pension and other postretirement benefit costs relating to the regulated Utilities, costs are recorded into, and amortized out of, regulatory assets instead of OCI. The net actuarial losses and prior service costs recognized during the period are included in the computation of total periodic pension and other postretirement benefit cost. See Notes E and F.