Summary of Significant Accounting Policies and Other Matters (Tables)

6 Months Ended

Jun. 30, 2021

For the three and six months ended June 30, 2021 and 2020, basic and diluted EPS for Con Edison were 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)	2021	2020	2021	2020
Net income for common stock	$165	$190	$584	$565
Weighted average common shares outstanding – basic	345.4	334.1	344.0	333.8
Add: Incremental shares attributable to effect of potentially dilutive securities	0.8	0.9	0.8	0.9
Adjusted weighted average common shares outstanding – diluted	346.2	335.0	344.8	334.7
Net Income per common share – basic	$0.48	$0.57	$1.70	$1.69
Net Income per common share – diluted	$0.48	$0.57	$1.70	$1.69

Changes in Accumulated Other Comprehensive Income/(Loss)

For the three and six months ended June 30, 2021 and 2020, changes to accumulated other comprehensive income/(loss) (OCI) for Con Edison and CECONY were as follows:


	For the Three Months Ended June 30,
	Con Edison		CECONY
(Millions of Dollars)	2021	2020	2021	2020
Beginning balance, accumulated OCI, net of taxes (a)	$(21)	$(14)	$(7)	$(5)

Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $(1) for Con Edison in 2021 and 2020 (a)(b)	2	—	—	1
Current period OCI, net of taxes	2	—	—	1
Ending balance, accumulated OCI, net of taxes (a)	$(19)	$(14)	$(7)	$(4)


	For the Six Months Ended June 30,
	Con Edison		CECONY
(Millions of Dollars)	2021	2020	2021	2020
Beginning balance, accumulated OCI, net of taxes (a)	$(25)	$(19)	$(7)	$(6)
OCI before reclassifications, net of tax of $(1) for Con Edison in 2021 and 2020	2	4	—	—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $(1) for Con Edison in 2021 and 2020 (a)(b)	4	1	—	2
Current period OCI, net of taxes	6	5	—	2
Ending balance, accumulated OCI, net of taxes (a)	$(19)	$(14)	$(7)	$(4)

(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 costs. See Notes E and F.

Restrictions on Cash and Cash Equivalents

At June 30, 2021 and 2020, cash, temporary cash investments and restricted cash for Con Edison and CECONY were as follows:


	At June 30,
	Con Edison		CECONY
(Millions of Dollars)	2021	2020	2021	2020
Cash and temporary cash investments	$1,067	$1,144	$985	$1,096
Restricted cash (a)	111	201	—	—
Total cash, temporary cash investments and restricted cash	$1,178	$1,345	$985	$1,096

(a)Restricted cash included cash of the Clean Energy Businesses' renewable electric production project subsidiaries ($111 million and $192 million at June 30, 2021 and 2020, respectively) that, under the related project debt agreements, either is 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 was 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 receiving distributions for all projects. At June 30, 2020, restricted cash included cash deposits held by the Clean Energy Businesses’ battery storage business ($9 million).

Schedule of Cash and Cash Equivalents

At June 30, 2021 and 2020, cash, temporary cash investments and restricted cash for Con Edison and CECONY were as follows:


	At June 30,
	Con Edison		CECONY
(Millions of Dollars)	2021	2020	2021	2020
Cash and temporary cash investments	$1,067	$1,144	$985	$1,096
Restricted cash (a)	111	201	—	—
Total cash, temporary cash investments and restricted cash	$1,178	$1,345	$985	$1,096