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Consolidated Income Statement (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
OPERATING REVENUES        
Total operating revenues $ 2,696 $ 2,633 $ 6,060 $ 5,861
OPERATING EXPENSES        
Depreciation and amortization 354 332 702 662
Taxes, other than income taxes 540 511 1,110 1,052
TOTAL OPERATING EXPENSES 2,270 2,170 4,880 4,587
Gain on sale of retail electric supply business and solar electric production project 0 1 0 1
OPERATING INCOME 426 464 1,180 1,275
OTHER INCOME (DEDUCTIONS)        
Investment income 36 34 57 53
Other income 6 3 11 9
Allowance for equity funds used during construction 3 2 7 5
Other deductions (48) (46) (92) (89)
TOTAL OTHER INCOME (DEDUCTIONS) (3) (7) (17) (22)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 423 457 1,163 1,253
INTEREST EXPENSE        
Interest on long-term debt 190 179 380 356
Other interest 9 3 16 7
Allowance for borrowed funds used during construction (2) (2) (5) (3)
NET INTEREST EXPENSE 197 180 391 360
INCOME BEFORE INCOME TAX EXPENSE 226 277 772 893
INCOME TAX EXPENSE 38 102 156 330
NET INCOME $ 188 $ 175 $ 616 $ 563
Net income per common share-basic (dollars per share) $ 0.60 $ 0.57 $ 1.98 $ 1.84
Net income per common share-diluted (dollars per share) 0.60 0.57 1.98 1.84
DIVIDENDS DECLARED PER COMMON SHARE (dollars per share) $ 0.72 $ 0.69 $ 1.43 $ 1.38
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (shares) 310.8 305.4 310.6 305.3
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (shares) 311.9 306.8 311.7 306.7
Electric        
OPERATING REVENUES        
Total operating revenues $ 1,951 $ 1,965 $ 3,828 $ 3,899
Gas        
OPERATING REVENUES        
Total operating revenues 489 435 1,428 1,297
OPERATING EXPENSES        
Operating costs 194 149 572 470
Steam        
OPERATING REVENUES        
Total operating revenues 96 88 410 385
Non-utility        
OPERATING REVENUES        
Total operating revenues 160 145 394 280
Power        
OPERATING EXPENSES        
Operating costs 388 408 742 793
Fuel        
OPERATING EXPENSES        
Operating costs 38 38 162 139
Other operations and maintenance        
OPERATING EXPENSES        
Operating costs 756 732 1,592 1,471
CECONY        
OPERATING REVENUES        
Total operating revenues 2,338 2,293 5,222 5,149
OPERATING EXPENSES        
Depreciation and amortization 316 296 626 591
Taxes, other than income taxes 512 487 1,051 1,003
TOTAL OPERATING EXPENSES 1,956 1,870 4,135 3,986
OPERATING INCOME 382 423 1,087 1,163
OTHER INCOME (DEDUCTIONS)        
Investment income 4 3 8 7
Allowance for equity funds used during construction 3 2 6 5
Other deductions (42) (40) (81) (78)
TOTAL OTHER INCOME (DEDUCTIONS) (35) (35) (67) (66)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 347 388 1,020 1,097
INTEREST EXPENSE        
Interest on long-term debt 162 151 324 301
Other interest 7 4 12 8
Allowance for borrowed funds used during construction (2) (1) (4) (3)
NET INTEREST EXPENSE 167 154 332 306
INCOME BEFORE INCOME TAX EXPENSE 180 234 688 791
INCOME TAX EXPENSE 31 91 150 309
NET INCOME 149 143 538 482
CECONY | Electric        
OPERATING REVENUES        
Total operating revenues 1,807 1,817 3,536 3,610
CECONY | Gas        
OPERATING REVENUES        
Total operating revenues 435 388 1,276 1,153
OPERATING EXPENSES        
Operating costs 118 84 391 314
CECONY | Steam        
OPERATING REVENUES        
Total operating revenues 96 88 410 386
CECONY | Power        
OPERATING EXPENSES        
Operating costs 343 363 645 710
CECONY | Fuel        
OPERATING EXPENSES        
Operating costs 38 38 162 139
CECONY | Other operations and maintenance        
OPERATING EXPENSES        
Operating costs $ 629 $ 602 $ 1,260 $ 1,229