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Consolidated Income Statement - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
OPERATING REVENUES        
Electric $ 2,040 $ 2,134 $ 4,175 $ 4,372
Gas 324 395 1,056 1,277
Steam 96 98 471 439
Non-utility 328 284 702 612
TOTAL OPERATING REVENUES 2,788 2,911 6,404 6,700
OPERATING EXPENSES        
Purchased power 660 783 1,544 1,746
Fuel 31 34 185 189
Gas purchased for resale 89 151 351 551
Other operations and maintenance 802 801 1,616 1,627
Depreciation and amortization 276 265 555 526
Taxes, other than income taxes 458 467 955 966
TOTAL OPERATING EXPENSES 2,316 2,501 5,206 5,605
Gain on sale of solar energy projects 0 45 0 45
OPERATING INCOME 472 455 1,198 1,140
OTHER INCOME (DEDUCTIONS)        
Investment and other income 14 14 19 25
Allowance for equity funds used during construction 1 1 2 3
Other deductions (5) (6) (7) (8)
TOTAL OTHER INCOME 10 9 14 20
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 482 464 1,212 1,160
INTEREST EXPENSE        
Interest on long-term debt 156 147 311 293
Other interest (income) 7 4 13 (5)
Allowance for borrowed funds used during construction (1) (1) (1) (2)
NET INTEREST EXPENSE 162 150 323 286
INCOME BEFORE INCOME TAX EXPENSE 320 314 889 874
INCOME TAX EXPENSE 101 102 300 300
NET INCOME FOR COMMON STOCK $ 219 $ 212 $ 589 $ 574
Net income for common stock per common share-basic (dollars per share) $ 0.75 $ 0.73 $ 2.01 $ 1.96
Net income for common stock per common share-diluted (dollars per share) 0.74 0.72 2.01 1.95
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK (dollars per share) $ 0.65 $ 0.630 $ 1.30 $ 1.260
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (IN MILLIONS) (shares) 292.9 292.9 292.9 292.9
AVERAGE NUMBER OF SHARES OUTSTANDING-DILUTED (IN MILLIONS) (shares) 294.0 294.0 293.9 294.0
CECONY        
OPERATING REVENUES        
Electric $ 1,879 $ 1,978 $ 3,858 $ 4,053
Gas 308 360 963 1,149
Steam 96 98 471 439
TOTAL OPERATING REVENUES 2,283 2,436 5,292 5,641
OPERATING EXPENSES        
Purchased power 358 517 897 1,135
Fuel 31 34 185 189
Gas purchased for resale 54 104 252 451
Other operations and maintenance 687 699 1,390 1,424
Depreciation and amortization 254 247 511 486
Taxes, other than income taxes 439 449 914 926
TOTAL OPERATING EXPENSES 1,823 2,050 4,149 4,611
OPERATING INCOME 460 386 1,143 1,030
OTHER INCOME (DEDUCTIONS)        
Investment and other income 2 1 3 8
Allowance for equity funds used during construction 1 1 2 1
Other deductions (5) (5) (6) (7)
TOTAL OTHER INCOME (2) (3) (1) 2
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 458 383 1,142 1,032
INTEREST EXPENSE        
Interest on long-term debt 141 130 282 258
Other interest 5 3 9 7
Allowance for borrowed funds used during construction 0 0 (1) (1)
NET INTEREST EXPENSE 146 133 290 264
INCOME BEFORE INCOME TAX EXPENSE 312 250 852 768
INCOME TAX EXPENSE 101 78 293 262
NET INCOME FOR COMMON STOCK $ 211 $ 172 $ 559 $ 506