Financial Information by Business Segment

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Financial Information by Business Segment

Financial Information by Business Segment

Con Edison’s principal business segments are CECONY’s regulated utility activities, O&R’s regulated utility activities and Con Edison Transmission. CECONY’s principal business segments are its regulated electric, gas and steam utility activities. The financial data for the business segments for the three and six months ended June 30, 2025 and 2024 were as follows:

	For the Three Months Ended June 30, 2025
	Operating revenues	Inter-segment revenues	Other operations and maintenance (b)	Depreciation and amortization	Other operating expense (b)	Operating income (loss)	Other Income (deductions)	Interest Expense	Allowance for borrowed funds used during construction	Income Tax Expense	Total assets	Capital expenditures
(Millions of Dollars)
CECONY
Electric	$2,581	$5	$636	$396	$1,237	$312	$159	$212	$(11)	$51	$46,885	$814
Gas	653	2	134	119	314	86	37	75	(5)	11	16,749	314
Steam	106	19	56	29	72	(51)	13	15	—	(14)	2,931	26
Consolidation adjustments	—	(26)	—	—	—	—	—	—	—	—	—	—
Total CECONY	$3,340	$—	$826	$544	$1,623	$347	$209	$302	$(16)	$48	$66,565	$1,154
O&R
Electric	196	—	73	22	85	16	8	11	(2)	3	2,719	64
Gas	58	—	20	9	32	(3)	3	6	—	(2)	1,405	32
Total O&R	$254	$—	$93	$31	$117	$13	$11	$17	$(2)	$1	$4,124	$96
Con Edison Transmission	1	—	4	—	—	(3)	17	—	—	4	490	15
Other (a)	—	—	—	1	1	(2)	4	(1)	—	(3)	322	—
Total Con Edison	$3,595	$—	$923	$576	$1,741	$355	$241	$318	$(18)	$50	$71,501	$1,265

	For the Three Months Ended June 30, 2024
	Operating revenues	Inter-segment revenues	Other operations and maintenance (b)	Depreciation and amortization	Other operating expense (b)	Operating income (loss)	Other Income (deductions)	Interest Expense	Allowance for borrowed funds used during construction	Income Tax Expense	Total assets	Capital expenditures
(Millions of Dollars)
CECONY
Electric	$2,370	$5	$671	$345	$1,082	$272	$108	$199	$(9)	$8	$43,356	$779
Gas	538	3	147	112	194	85	25	70	(4)	9	16,631	304
Steam	88	18	53	25	53	(43)	9	13	—	(16)	3,088	41
Consolidation adjustments	—	(26)	—	—	—	—	—	—	—	—	—	—
Total CECONY	$2,996	$—	$871	$482	$1,329	$314	$142	$282	$(13)	$1	$63,075	$1,124
O&R
Electric	180	—	75	20	73	12	6	10	(2)	2	2,427	52
Gas	44	—	19	9	19	(3)	2	5	—	(2)	1,383	24
Total O&R	$224	$—	$94	$29	$92	$9	$8	$15	$(2)	$—	$3,810	$76
Con Edison Transmission	1	—	3	—	—	(2)	11	—	—	(4)	441	13
Other (a)	(1)	—	(1)	1	—	(1)	(1)	6	—	(7)	594	—
Total Con Edison	$3,220	$—	$967	$512	$1,421	$320	$160	$303	$(15)	$(10)	$67,920	$1,213

(a)    Other includes the parent company, Con Edison’s tax equity investments, consolidation adjustments and Broken Bow II, the deferred project that was classified as held for sale at December 31, 2024, with the sale and transfer completed in January 2025. See Note Q.

(b)    Other operations and maintenance expenses constitute significant segment expenses which are regularly provided to the chief operating decision makers. Other operating expense includes other segment items (purchased power, fuel, gas purchased for resale, taxes other than income taxes).

	For the Six Months Ended June 30, 2025
	Operating revenues	Inter-segment revenues	Other operations and maintenance (b)	Depreciation and amortization	Other operating expense (b)	Operating income (loss)	Other Income (deductions)	Interest Expense	Allowance for borrowed funds used during construction	Income Tax Expense	Total assets	Capital expenditures
(Millions of Dollars)
CECONY
Electric	$5,267	$10	$1,295	$784	$2,586	$602	$313	$431	($23)	$88	$46,885	$1,505
Gas	2,055	5	273	237	819	726	69	152	(9)	169	16,749	586
Steam	460	38	112	56	206	86	25	29	(1)	18	2,931	55
Consolidation adjustments	—	(53)	—	—	—	—	—	—	—	—	—	—
Total CECONY	$7,782	$—	$1,680	$1,077	$3,611	$1,414	$407	$612	($33)	$275	$66,565	$2,146
O&R
Electric	411	—	148	43	187	33	17	22	(3)	6	2,719	122
Gas	199	—	40	19	98	42	6	12	—	8	1,405	59
Total O&R	$610	$—	$188	$62	$285	$75	$23	$34	($3)	$14	$4,124	$181
Con Edison Transmission	2	—	7	—	—	(5)	33	—	—	8	490	29
Other (a)	(1)	—	—	1	2	(4)	(1)	2	—	(5)	322	—
Total Con Edison	$8,393	$—	$1,875	$1,140	$3,898	$1,480	$462	$648	($36)	$292	$71,501	$2,356

	For the Six Months Ended June 30, 2024
	Operating revenues	Inter-segment revenues	Other operations and maintenance (b)	Depreciation and amortization	Other operating expense (b)	Operating income (loss)	Other Income (deductions)	Interest Expense	Allowance for borrowed funds used during construction	Income Tax Expense	Total assets	Capital expenditures
(Millions of Dollars)
CECONY
Electric	$4,812	$10	$1,284	$715	$2,301	$512	$226	$400	$(18)	$4	$43,356	$1,512
Gas	1,781	5	274	226	580	701	54	140	(7)	160	16,631	563
Steam	374	37	101	52	130	91	18	26	(1)	18	3,088	70
Consolidation adjustments	—	(52)	—	—	—	—	—	—	—	—	—	—
Total CECONY	$6,967	$—	$1,659	$993	$3,011	$1,304	$298	$566	$(26)	$182	$63,075	$2,145
O&R
Electric	370	—	151	40	154	25	13	19	(2)	5	2,427	101
Gas	157	—	40	18	60	39	3	11	—	8	1,383	43
Total O&R	$527	$—	$191	$58	$214	$64	$16	$30	$(2)	$13	$3,810	$144
Con Edison Transmission	2	—	6	1	—	(5)	30	—	—	—	441	13
Other (a)	(1)	—	—	(1)	32	(32)	(2)	9	—	(21)	594	—
Total Con Edison	$7,495	$—	$1,856	$1,051	$3,257	$1,331	$342	$605	$(28)	$174	$67,920	$2,302

(a)    Other includes the parent company, Con Edison’s tax equity investments, consolidation adjustments and Broken Bow II, the deferred project that was classified as held for sale at December 31, 2024, with the sale and transfer completed in January 2025. See Note Q.

(b)    Other operations and maintenance expenses constitute significant segment expenses which are regularly provided to the chief operating decision makers. Other operating expense includes other segment items (purchased power, fuel, gas purchased for resale, taxes other than income taxes).