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Pension Benefits
 9 Months Ended
Sep. 30, 2024
Retirement Benefits [Abstract]  
Pension Benefits Pension Benefits
Total Periodic Benefit Credit
The components of the Companies’ total periodic benefit credit for the three and nine months ended September 30, 2024 and 2023 were as follows:
 
For the Three Months Ended September 30,
Con EdisonCECONY
(Millions of Dollars)2024202320242023
Service cost – including administrative expenses$44$40$42$38
Interest cost on projected benefit obligation160162151153
Expected return on plan assets(282)(279)(269)(265)
Recognition of net actuarial gain(1)(58)(2)(55)
Recognition of prior service credit(4)(4)(5)(5)
TOTAL PERIODIC BENEFIT CREDIT$(83)$(139)$(83)$(134)
Cost capitalized(22)(19)(21)(18)
Reconciliation to rate level12721066
Total credit recognized$(93)$(86)$(94)$(86)

For the Nine Months Ended September 30,
Con EdisonCECONY
(Millions of Dollars)2024202320242023
Service cost – including administrative expenses$133$122$126$113
Interest cost on projected benefit obligation481486453458
Expected return on plan assets(846)(837)(807)(795)
Recognition of net actuarial gain(4)(174)(5)(164)
Recognition of prior service credit(13)(12)(15)(15)
TOTAL PERIODIC BENEFIT CREDIT$(249)$(415)$(248)$(403)
Cost capitalized(68)(61)(65)(58)
Reconciliation to rate level3921831202
Total credit recognized$(278)$(258)$(282)$(259)

Components of net periodic benefit credit other than service cost are presented outside of operating income on the Companies' consolidated income statements, and only the service cost component is eligible for capitalization. Accordingly, the service cost component is included in the line "Other operations and maintenance" and the non-service cost components are included in the lines "Other income" and "Other deductions" in the Companies' consolidated income statements.

Expected Contributions
Based on estimates as of September 30, 2024, the Companies expect to make contributions to the pension plans during 2024 of $25 million (of which $22 million is to be made by CECONY). The Companies’ policy is to fund the total periodic benefit cost of the qualified plan to the extent tax deductible and to also contribute to the non-qualified supplemental pension plans. No funding is anticipated for the qualified plan during 2024, and during the first nine months of 2024, the Companies contributed $15 million to the non-qualified supplemental pension plans, $13 million of which was contributed by CECONY. CECONY also contributed $12 million to the external trust for its non-qualified supplemental pension plan.