Other Postretirement Benefits

9 Months Ended

Sep. 30, 2023

Total Periodic Benefit Cost

The components of the Companies’ total periodic other postretirement benefit cost/(credit) for the three and nine months ended September 30, 2023 and 2022 were as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2023	2022	2023	2022
Service cost - including administrative expenses	$4	$5	$3	$4
Interest cost on projected other postretirement benefit obligation	14	8	12	8
Expected return on plan assets	(18)	(18)	(14)	(14)
Recognition of net actuarial gain	(4)	(4)	(2)	(3)
Recognition of prior service credit	—	—	—	—
TOTAL PERIODIC OTHER POSTRETIREMENT CREDIT	$(4)	$(9)	$(1)	$(5)
Cost capitalized	(2)	(2)	(2)	(2)
Reconciliation to rate level	1	7	—	6
Total credit recognized	$(5)	$(4)	$(3)	$(1)


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2023	2022	2023	2022
Service cost - including administrative expenses	$11	$14	$9	$11
Interest cost on projected other postretirement benefit obligation	43	26	37	23
Expected return on plan assets	(53)	(54)	(42)	(43)
Recognition of net actuarial gain	(12)	(11)	(6)	(7)
Recognition of prior service credit	(1)	(1)	—	—
TOTAL PERIODIC OTHER POSTRETIREMENT CREDIT	$(12)	$(26)	$(2)	$(16)
Cost capitalized	(5)	(6)	(4)	(5)
Reconciliation to rate level	2	22	(2)	18
Total credit recognized	$(15)	$(10)	$(8)	$(3)

For information about the presentation of the components of other postretirement benefit costs, see Note E.

Contributions

As of September 30, 2023, the Companies contributed $15 million (all of which was made by CECONY) to the other postretirement benefit plans in 2023. The Companies' policy is to fund the total periodic benefit cost of the plans to the extent tax deductible.