Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Lease Costs, Cash Flows and Other Related Information

Operating lease cost and cash paid for amounts included in the measurement of lease liabilities for the years ended December 31, 2024, 2023, and 2022 were as follows:

	Con Edison (a)			CECONY
(Millions of Dollars)	2024	2023	2022	2024	2023	2022
Operating lease cost	$67	$70	$88	$66	$66	$67
Operating lease cash flows	$67	$68	$83	$66	$65	$64

(a)Amounts for Con Edison include amounts for the Clean Energy Businesses through February 2023. On March 1, 2023, Con Edison completed the sale of all of the stock of the Clean Energy Businesses. See Note W and Note X.

Other information related to leases for Con Edison and CECONY at December 31, 2024 and 2023 was as follows:

	Con Edison		CECONY
	2024	2023	2024	2023
Weighted Average Remaining Lease Term:
Operating leases, (a) (b)	10.8 years	11.4 years	10.6 years	11.4 years
Finance leases	6 years	6.6 years	5 years	2.7 years
Weighted Average Discount Rate:
Operating leases, (a) (b)	3.8%	3.7%	3.8%	3.7%
Finance leases	2.0%	3.0%	1.6%	3.1%

(a)Amounts for Con Edison in 2023 exclude operating leases of the Clean Energy Businesses, inclusive of Broken Bow II, that were classified as held for sale as of December 31, 2023. Including the operating leases of the Clean Energy Businesses would result in a weighted average remaining lease term of 11.6 years and a weighted average discount rate of 3.8 percent as of December 31, 2023. On March 1, 2023, Con Edison completed the sale of all of the stock of the Clean Energy Businesses. See Note W and Note X.

(b)Amounts for Con Edison in 2024 exclude the operating lease of Broken Bow II, that was classified as held for sale as of December 31, 2024 and was sold and transferred in January 2025. Including the operating lease of Broken Bow II would result in a weighted average remaining lease term of 10.8 years and a weighted average discount rate of 3.8 percent as of December 31, 2024. See Note W and Note X.

Operating Leases, Future Minimum Lease Payments

Future minimum lease payments under non-cancellable leases at December 31, 2024 were as follows:

(Millions of Dollars)	Con Edison		CECONY
Year Ending December 31, (b)	Operating Leases	Finance Leases	Operating Leases	Finance Leases
2025	$68	$1	$67	$1
2026	67	1	67	1
2027	66	1	66	1
2028	61	—	61	—
2029	61	—	61	—
All years thereafter	307	1	307	—
Total future minimum lease payments	$630	$4	$629	$3
Less: imputed interest	(126)	—	(125)	—
Total	$504	$4	$504	$3
Reported as of December 31, 2024
Operating lease liabilities (current) (a)	$118	$—	$118	$—
Operating lease liabilities held for sale (current)	2	—	—	—
Operating lease liabilities (noncurrent) (a)	386	—	386	—
Operating lease liabilities held for sale (noncurrent)	5	—	—	—
Other current liabilities	—	1	—	1
Other noncurrent liabilities	—	3	—	2
Total	$511	$4	$504	$3

(a)Amounts exclude operating lease liabilities of Broken Bow II ($7 million) that are classified as current and noncurrent liabilities held for sale on Con Edison's consolidated balance sheet as of December 31, 2024. See Note X. Broken Bow II was sold and transferred in January 2025.

(b)Amounts exclude operating lease future minimum lease payments of Broken Bow II, of $4 million in total for years ended December 31, 2025 through 2029, and $9 million for all years thereafter, and imputed interest of $6 million. Broken Bow II was sold and transferred in January 2025.

Finance Leases, Future Minimum Lease Payments

Future minimum lease payments under non-cancellable leases at December 31, 2024 were as follows:

(Millions of Dollars)	Con Edison		CECONY
Year Ending December 31, (b)	Operating Leases	Finance Leases	Operating Leases	Finance Leases
2025	$68	$1	$67	$1
2026	67	1	67	1
2027	66	1	66	1
2028	61	—	61	—
2029	61	—	61	—
All years thereafter	307	1	307	—
Total future minimum lease payments	$630	$4	$629	$3
Less: imputed interest	(126)	—	(125)	—
Total	$504	$4	$504	$3
Reported as of December 31, 2024
Operating lease liabilities (current) (a)	$118	$—	$118	$—
Operating lease liabilities held for sale (current)	2	—	—	—
Operating lease liabilities (noncurrent) (a)	386	—	386	—
Operating lease liabilities held for sale (noncurrent)	5	—	—	—
Other current liabilities	—	1	—	1
Other noncurrent liabilities	—	3	—	2
Total	$511	$4	$504	$3

(a)Amounts exclude operating lease liabilities of Broken Bow II ($7 million) that are classified as current and noncurrent liabilities held for sale on Con Edison's consolidated balance sheet as of December 31, 2024. See Note X. Broken Bow II was sold and transferred in January 2025.

(b)Amounts exclude operating lease future minimum lease payments of Broken Bow II, of $4 million in total for years ended December 31, 2025 through 2029, and $9 million for all years thereafter, and imputed interest of $6 million. Broken Bow II was sold and transferred in January 2025.