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Consolidated Income Statement (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
OPERATING REVENUES        
Electric $ 2,675 $ 2,769 $ 6,573 $ 6,717
Gas 296 235 1,593 1,246
Steam 62 63 448 406
Non-utility 178 350 458 999
TOTAL OPERATING REVENUES 3,211 3,417 9,072 9,368
OPERATING EXPENSES        
Purchased power 460 798 1,253 2,047
Fuel 30 29 169 133
Gas purchased for resale 115 81 584 320
Other operations and maintenance 852 840 2,406 2,447
Depreciation and amortization 337 305 998 905
Taxes, other than income taxes 544 528 1,597 1,523
TOTAL OPERATING EXPENSES 2,338 2,581 7,007 7,375
Gain on sale of retail electric supply business and solar electric production project 0 104 1 104
OPERATING INCOME 873 940 2,066 2,097
OTHER INCOME (DEDUCTIONS)        
Investment income 20 20 59 27
Other income 20 31 43 43
Allowance for equity funds used during construction 3 3 8 7
Other deductions (4) (5) (12) (16)
TOTAL OTHER INCOME 39 49 98 61
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 912 989 2,164 2,158
INTEREST EXPENSE        
Interest on long-term debt 183 174 539 504
Other interest 4 5 11 17
Allowance for borrowed funds used during construction (2) (1) (5) (4)
NET INTEREST EXPENSE 185 178 545 517
INCOME BEFORE INCOME TAX EXPENSE 727 811 1,619 1,641
INCOME TAX EXPENSE 270 314 599 602
NET INCOME $ 457 $ 497 $ 1,020 $ 1,039
Net income per common share-basic (dollars per share) $ 1.48 $ 1.63 $ 3.33 $ 3.47
Net income per common share-diluted (dollars per share) 1.48 1.62 3.31 3.46
DIVIDENDS DECLARED PER COMMON SHARE (dollars per share) $ 0.69 $ 0.67 $ 2.07 $ 2.01
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (IN MILLIONS) (shares) 307.8 304.5 306.2 299.1
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (IN MILLIONS) (shares) 309.3 305.9 307.7 300.5
CECONY        
OPERATING REVENUES        
Electric $ 2,469 $ 2,557 $ 6,079 $ 6,222
Gas 268 208 1,421 1,113
Steam 62 63 448 406
TOTAL OPERATING REVENUES 2,799 2,828 7,948 7,741
OPERATING EXPENSES        
Purchased power 400 495 1,110 1,216
Fuel 30 29 169 133
Gas purchased for resale 58 34 372 217
Other operations and maintenance 691 724 1,992 2,105
Depreciation and amortization 300 278 891 825
Taxes, other than income taxes 520 502 1,523 1,446
TOTAL OPERATING EXPENSES 1,999 2,062 6,057 5,942
OPERATING INCOME 800 766 1,891 1,799
OTHER INCOME (DEDUCTIONS)        
Investment income 2 4 9 6
Allowance for equity funds used during construction 3 2 7 6
Other deductions (5) (4) (10) (10)
TOTAL OTHER INCOME 0 2 6 2
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 800 768 1,897 1,801
INTEREST EXPENSE        
Interest on long-term debt 155 150 456 440
Other interest 4 5 11 14
Allowance for borrowed funds used during construction (2) (1) (4) (3)
NET INTEREST EXPENSE 157 154 463 451
INCOME BEFORE INCOME TAX EXPENSE 643 614 1,434 1,350
INCOME TAX EXPENSE 242 226 551 491
NET INCOME $ 401 $ 388 $ 883 $ 859