Capitalization

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Capitalization

Capitalization

In March 2026, Con Edison issued 7,000,000 shares of its common stock for approximately $776 million upon physical settlement of a forward sale agreement entered into by the company in February 2026.

The carrying amounts and fair values of long-term debt at March 31, 2026 and December 31, 2025 were:

(Millions of Dollars)	2026		2025
Long-Term Debt (including current portion) (a)	Carrying Amount	Fair Value	Carrying Amount	Fair Value
Con Edison	$25,804	$23,244	$25,801	$23,633
CECONY	$24,313	$21,920	$24,310	$22,291

(a)Amounts shown are net of unamortized debt expense and unamortized debt discount of $246 million and $237 million for Con Edison and CECONY, respectively, as of March 31, 2026 and $249 million and $240 million for Con Edison and CECONY, respectively, as of December 31, 2025.

The fair values of the Companies' long-term debt have been estimated primarily using available market information and at March 31, 2026 are classified as Level 2 liabilities. See Note O.