Pension Benefits

3 Months Ended

Mar. 31, 2025

Retirement Benefits [Abstract]

Pension Benefits

Pension Benefits

Total Periodic Benefit Credit

The components of the Companies’ total periodic benefit credit for the three months ended March 31, 2025 and 2024 were as follows:

	For the Three Months Ended March 31,
	Con Edison		CECONY
(Millions of Dollars)	2025	2024	2025	2024
Service cost – including administrative expenses	$42	$43	$39	$40
Interest cost on projected benefit obligation	168	159	159	150
Expected return on plan assets	(279)	(282)	(266)	(269)
Recognition of net actuarial gain	(66)	(4)	(63)	(4)
Recognition of prior service credit	(4)	(4)	(5)	(5)
TOTAL PERIODIC BENEFIT CREDIT	$(139)	$(88)	$(136)	$(88)
Cost capitalized	(21)	(22)	(20)	(22)
Reconciliation to rate level	(16)	18	(16)	16
Total credit recognized	$(176)	$(92)	$(172)	$(94)

Components of net periodic benefit credit other than service cost are presented outside of operating income on the Companies’ consolidated income statements, and only the service cost component is eligible for capitalization. Accordingly, the service cost components are included in the line "Other operations and maintenance" and the non-service cost components are included in the lines "Other income" or "Other deductions" in the Companies' consolidated income statements.

Expected Contributions

Based on estimates as of March 31, 2025, the Companies expect to make contributions to the pension plans during 2025 of $65 million (of which $61 million is to be made by CECONY). The Companies’ policy is to fund the total periodic benefit cost of the qualified plan to the extent tax deductible and to also contribute to the non-qualified supplemental pension plans. No funding is anticipated for the qualified plan during 2025, and during the first three months of 2025, the Companies contributed $5 million to the non-qualified supplemental pension plans, $4 million of which was contributed by CECONY.