Financial Information by Business Segment

9 Months Ended

Sep. 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 as of and for the three and nine months ended September 30, 2025 and 2024 were as follows:

	As of and for the Three Months Ended September 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	$3,733	$5	$686	$403	$1,520	$1,124	$153	$213	$(7)	$256	$47,820	$780
Gas	392	2	132	122	260	(122)	36	74	(5)	(44)	16,080	282
Steam	56	19	53	29	62	(88)	12	14	—	(24)	2,736	27
Consolidation adjustments	—	(26)	—	—	—	—	—	—	—	—	—	—
Total CECONY	$4,181	$—	$871	$554	$1,842	$914	$201	$301	$(12)	$188	$66,636	$1,089
O&R
Electric	308	—	71	22	144	71	8	12	(2)	17	2,869	95
Gas	41	—	21	10	24	(14)	3	6	—	(5)	1,472	39
Total O&R	$349	$—	$92	$32	$168	$57	$11	$18	$(2)	$12	$4,341	$134
Con Edison Transmission	1	—	4	—	—	(1)	16	—	—	4	505	8
Other (a)	(1)	—	—	—	1	(2)	3	4	—	(2)	362	—
Total Con Edison	$4,530	$—	$967	$586	$2,011	$968	$231	$323	$(14)	$202	$71,844	$1,231

	As of and for the Three Months Ended September 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	$3,376	$5	$686	$376	$696	$998	$105	$213	$(10)	$187	$44,828	$756
Gas	337	2	132	117	132	(112)	24	73	(4)	(43)	16,116	292
Steam	49	19	53	27	52	(83)	9	14	(1)	(25)	2,905	34
Consolidation adjustments	—	(26)	—	—	—	—	—	—	—	—	—	—
Total CECONY	$3,762	$—	$871	$520	$880	$803	$138	$300	$(15)	$119	$63,849	$1,082
O&R
Electric	293	—	71	21	83	72	6	12	(1)	17	2,529	47
Gas	36	—	21	9	21	(9)	2	6	—	(5)	1,441	25
Total O&R	$329	$—	$92	$30	$104	$63	$8	$18	$(1)	$12	$3,970	$72
Con Edison Transmission	1	—	2	—	2	(1)	16	—	—	4	456	9
Other (a)	—	—	—	—	—	(3)	3	4	—	(2)	370	—
Total Con Edison	$4,092	$—	$965	$550	$986	$862	$165	$322	$(16)	$133	$68,645	$1,163

(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).

	As of and for the Nine Months Ended September 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	$9,000	$15	$1,980	$1,187	$4,105	$1,728	$466	$644	($31)	$343	$47,820	$2,285
Gas	2,446	6	406	359	1,080	601	105	226	(13)	125	16,080	867
Steam	517	58	165	85	268	(1)	37	43	(1)	(6)	2,736	82
Consolidation adjustments	—	(79)	—	—	—	—	—	—	—	—	—	—
Total CECONY	$11,963	$—	$2,551	$1,631	$5,453	$2,328	$608	$913	($45)	$462	$66,636	$3,234
O&R
Electric	719	—	219	65	332	103	26	34	(4)	22	2,869	218
Gas	240	—	61	29	121	29	8	17	—	3	1,472	97
Total O&R	$959	$—	$280	$94	$453	$132	$34	$51	($4)	$25	$4,341	$315
Con Edison Transmission	3	—	8	1	—	(6)	49	—	—	12	505	37
Other (a)	(1)	—	1	—	4	(6)	2	7	—	(6)	362	—
Total Con Edison	$12,924	$—	$2,840	$1,726	$5,910	$2,448	$693	$971	($49)	$493	$71,844	$3,586

	As of and for the Nine Months Ended September 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	$8,188	$15	$1,979	$1,090	$3,608	$1,511	$332	$612	$(28)	$191	$44,828	$2,269
Gas	2,119	7	407	343	781	588	78	213	(12)	117	16,116	854
Steam	423	56	153	79	183	8	26	40	(1)	(7)	2,905	104
Consolidation adjustments	—	(78)	—	—	—	—	—	—	—	—	—	—
Total CECONY	$10,730	$—	$2,539	$1,512	$4,572	$2,107	$436	$865	$(41)	$301	$63,849	$3,227
O&R
Electric	662	—	233	61	271	97	19	31	(4)	22	2,529	148
Gas	193	—	61	26	76	30	5	17	—	3	1,441	68
Total O&R	$855	$—	$294	$87	$347	$127	$24	$48	$(4)	$25	$3,970	$216
Con Edison Transmission	3	—	8	1	—	(6)	46	—	—	5	456	22
Other (a)	(1)	—	—	1	33	(35)	1	15	—	(24)	370	—
Total Con Edison	$11,587	$—	$2,841	$1,601	$4,952	$2,193	$507	$928	$(45)	$307	$68,645	$3,465

(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).