Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

The following table presents, for the years ended December 31, 2024, 2023 and 2022, revenue from contracts with customers as defined in ASC Topic 606, "Revenue from Contracts with Customers," as well as additional revenue from sources other than contracts with customers, disaggregated by major source.


	2024			2023			2022
(Millions of Dollars)	Revenues from contracts with customers	Other revenues (a)	Total operating revenues	Revenues from contracts with customers	Other revenues (a)	Total operating revenues	Revenues from contracts with customers	Other revenues (a)	Total operating revenues
CECONY
Electric	$10,868	$(151)	$10,717	$9,946	$132	$10,078	$9,917	$(166)	$9,751
Gas	2,890	(56)	2,834	2,867	(38)	2,829	2,875	49	2,924
Steam	592	(14)	578	551	18	569	584	9	593
Total CECONY	$14,350	($221)	$14,129	$13,364	$112	$13,476	$13,376	$(108)	$13,268
O&R
Electric	865	(13)	852	740	19	759	771	2	773
Gas	250	23	273	286	11	297	306	6	312
Total O&R	$1,115	$10	$1,125	$1,026	$30	$1,056	$1,077	$8	$1,085
Clean Energy Businesses (c)
Renewables	—	—	—	68	—	68	637	—	637
Energy services	—	—	—	7	—	7	317	—	317
Develop/Transfer Projects	—	—	—	7	—	7	44	—	44
Other	—	—	—	—	47	47	—	321	321
Total Clean Energy Businesses	$—	$—	$—	$82	$47	$129	$998	$321	$1,319
Con Edison Transmission	4	—	4	4	—	4	4	—	4
Other (b)	—	(2)	(2)	—	(2)	(2)	—	(6)	(6)
Total Con Edison	$15,469	$(213)	$15,256	$14,476	$187	$14,663	$15,455	$215	$15,670

(a) For the Utilities, this includes primarily revenue from alternative revenue programs, such as the revenue decoupling mechanisms under their New York electric and gas rate plans, and negative revenue adjustments.

(b) Other includes the parent company, Con Edison's tax equity investments, consolidation adjustments and Broken Bow II, the deferred project held for sale at December 31, 2024, the sale and transfer of which was completed in January 2025. See Note X.

(c) 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.

Change in Unbilled Contract and Unearned Revenues


	2024			2023				2022
(Millions of Dollars)	Unbilled contract revenue (a)	Unearned revenue (b)		Unbilled contract revenue (a)		Unearned revenue (b)		Unbilled contract revenue (a)	Unearned revenue (b)
Beginning balance as of January 1,	$4	$—		$80		$3		$35	$7
Additions (c)	—	—		2		—		324	—
Subtractions (c)	—	—	(d)	78		3	(d)	279	4	(d)
Ending balance as of December 31,	$4	$—		$4	(e)	$—		$80	$3

(a)Unbilled contract revenue represents accumulated incurred costs and earned profits on contracts (revenue arrangements), which have been recorded as revenue, but have not yet been billed to customers, and which represent contract assets as defined in Topic 606. Substantially all accrued unbilled contract revenue is expected to be collected within one year. Unbilled contract revenue arises from the cost-to-cost method of revenue recognition. Unbilled contract revenue from fixed-price type contracts is converted to billed receivables when amounts are invoiced to customers according to contractual billing terms, which generally occur when deliveries or other performance milestones are completed.

(b)Unearned revenue represents a liability for billings to customers in excess of earned revenue, which are contract liabilities as defined in Topic 606.

(c)Additions for unbilled contract revenue and subtractions for unearned revenue represent additional revenue earned. Additions for unearned revenue and subtractions for unbilled contract revenue represent billings. Activity also includes appropriate balance sheet classification for the period. Of the subtractions in 2023, $21 million and $1 million relate to the sale of all of the stock of the Clean Energy Businesses for unbilled contract revenue and unearned revenue, respectively. See (e) below.

(d)Of the subtractions from unearned revenue, $3 million and $4 million were included in the balances as of January 1, 2023, and 2022, respectively.

(e)Following the sale of all of the stock of the Clean Energy Businesses, Con Edison received substantially all contract revenue, net of certain costs incurred, for a battery storage project located in Imperial County, California. See Note W.