Summary of Significant Accounting Policies and Other Matters (Tables)

6 Months Ended

Jun. 30, 2020

Rollforward of Allowance for Credit Losses

The table below presents a rollforward by major portfolio segment type for the three and six months ended June 30, 2020:



	For the Three Months Ended June 30, 2020
	Con Edison		CECONY
(Millions of Dollars)	Accounts receivable - customers	Other receivables	Accounts receivable - customers	Other receivables
Allowance for credit losses
Beginning Balance at April 1, 2020	$75	$5	$70	$3
Recoveries	2	—	2	—
Write-offs	(15)	(1)	(14)	—
Reserve adjustments	25	1	23	—
Ending Balance June 30, 2020	$87	$5	$81	$3



	For the Six Months Ended June 30, 2020
	Con Edison		CECONY
(Millions of Dollars)	Accounts receivable - customers	Other receivables	Accounts receivable - customers	Other receivables
Allowance for credit losses
Beginning Balance at January 1, 2020	$70	$4	$65	$3
Recoveries	4	—	4	—
Write-offs	(34)	(1)	(32)	(1)
Reserve adjustments	47	2	44	1
Ending Balance June 30, 2020	$87	$5	$81	$3

Basic and Diluted Earnings Per Share

For the three and six months ended June 30, 2020 and 2019, basic and diluted EPS for Con Edison are calculated as follows:



	For the Three Months Ended June 30,		For the Six Months Ended June 30,
(Millions of Dollars, except per share amounts/Shares in Millions)	2020	2019	2020	2019
Net income for common stock	$190	$152	$565	$576
Weighted average common shares outstanding – basic	334.1	328.3	333.8	325.2
Add: Incremental shares attributable to effect of potentially dilutive securities	0.9	0.9	0.9	0.9
Adjusted weighted average common shares outstanding – diluted	335.0	329.2	334.7	326.1
Net Income per common share – basic	$0.57	$0.46	$1.69	$1.77
Net Income per common share – diluted	$0.57	$0.46	$1.69	$1.77

Changes in Accumulated Other Comprehensive Income/(Loss)

For the three and six months ended June 30, 2020 and 2019, changes to accumulated other comprehensive income/(loss) (OCI) for Con Edison and CECONY are as follows:



	For the Three Months Ended June 30,
	Con Edison		CECONY
(Millions of Dollars)	2020	2019	2020	2019
Beginning balance, accumulated OCI, net of taxes (a)	$(14)	$(12)	$(5)	$(5)
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $(1) for Con Edison in 2020 (a)(b)	—	1	1	—
Current period OCI, net of taxes	—	1	1	—
Ending balance, accumulated OCI, net of taxes	$(14)	$(11)	$(4)	$(5)



	For the Six Months Ended June 30,
	Con Edison		CECONY
(Millions of Dollars)	2020	2019	2020	2019
Beginning balance, accumulated OCI, net of taxes (a)	$(19)	$(16)	$(6)	$(5)
OCI before reclassifications, net of tax of $(1) for Con Edison in 2020 and 2019	4	2	—	—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $(1) for Con Edison in 2020 and 2019 (a)(b)	1	3	2	—
Current period OCI, net of taxes	5	5	2	—
Ending balance, accumulated OCI, net of taxes	$(14)	$(11)	$(4)	$(5)


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


(b)	For the portion of unrecognized pension and other postretirement benefit costs relating to the Utilities, costs are recorded into, and amortized out of, regulatory assets and liabilities 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.

Restrictions on Cash and Cash Equivalents

At June 30, 2020 and 2019, cash, temporary cash investments and restricted cash for Con Edison and CECONY were as follows:



	At June 30,
	Con Edison		CECONY
(Millions of Dollars)	2020	2019	2020	2019
Cash and temporary cash investments	$1,144	$831	$1,096	$786
Restricted cash (a)	201	139	—	—
Total cash, temporary cash investments and restricted cash	$1,345	$970	$1,096	$786

(a)

Restricted cash included cash of the Clean Energy Businesses' renewable electric production project subsidiaries ($192 million and $138 million at June 30, 2020 and 2019, respectively) that, under the related project debt agreements, is either restricted until the various maturity dates of the project debt to being used for normal operating expenses and capital expenditures, debt service, and required reserves or restricted as a result of the PG&E bankruptcy. During the pendency of the PG&E bankruptcy, cash was not distributed from the related projects to the Clean Energy Businesses. In July 2020, PG&E’s plan of reorganization became effective. In July 2020, the Clean Energy Businesses received previously restricted distributions and have resumed distributions for all projects. See “Long-Lived and Intangible Assets,” above, and Note C. At June 30, 2020, restricted cash included cash deposits held by the Clean Energy Businesses’ battery storage business ($9 million). At June 30, 2019, restricted cash included O&R's New Jersey utility subsidiary, Rockland Electric Company transition bond charge collections, net of principal, interest, trustee and service fees ($1 million).

Schedule of Cash and Cash Equivalents

At June 30, 2020 and 2019, cash, temporary cash investments and restricted cash for Con Edison and CECONY were as follows:



	At June 30,
	Con Edison		CECONY
(Millions of Dollars)	2020	2019	2020	2019
Cash and temporary cash investments	$1,144	$831	$1,096	$786
Restricted cash (a)	201	139	—	—
Total cash, temporary cash investments and restricted cash	$1,345	$970	$1,096	$786

(a)