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Summary of Significant Accounting Policies and Other Matters (Tables) | 12 Months Ended
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Dec. 31, 2019
Accounting Policies [Abstract] |
Disaggregation of Revenue | The following table presents, for the years ended December 31, 2019 and 2018, revenue from contracts with customers as defined in Accounting Standards Codification (ASC) Topic 606, "Revenue from Contracts with Customers," as well as additional revenue from sources other than contracts with customers, disaggregated by major source. Revenue was recognized for the year ended December 31, 2017 under ASC Topic 605, “Revenue Recognition,” and was materially consistent with revenue that would have been recognized under Topic 606.
| 2019 | 2018
(Millions of Dollars) | Revenues from contracts with customers |  | Other revenues (a) | Total operating revenues | Revenues from contracts with customers |  | Other revenues (a) | Total operating revenues
CECONY |  |  |  |  |  |  |  |
Electric | $7,913 |  | $149 | $8,062 | $7,920 |  | $51 | $7,971
Gas | 2,097 |  | 35 | 2,132 | 2,052 |  | 26 | 2,078
Steam | 610 |  | 17 | 627 | 625 |  | 6 | 631
Total CECONY | $10,620 |  | $201 | $10,821 | $10,597 |  | $83 | $10,680
O&R |  |  |  |  |  |  |  |  |  |
Electric | 627 |  | 7 | 634 | 647 |  | (5) | 642
Gas | 247 |  | 12 | 259 | 256 |  | (7) | 249
Total O&R | $874 |  | $19 | $893 | $903 |  | $(12) | $891
Clean Energy Businesses |  |  |  |  |  |  |  |
Renewables | 575 | (b) | — |  | 575 | 329 | (b) | — |  | 329
Energy services | 71 |  | — |  | 71 | 95 |  | — |  | 95
Other | — |  |  | 211 | 211 | — |  |  | 339 | 339
Total Clean Energy Businesses | $646 |  | $211 | $857 | $424 |  | $339 | $763
Con Edison Transmission | 4 |  | — |  | 4 | 4 |  | — |  | 4
Other (c) | — |  |  | (1) | (1) | — |  |  | (1) | (1)
Total Con Edison | $12,144 |  | $430 | $12,574 | $11,928 |  | $409 | $12,337
(a) For the Utilities, this includes revenue from alternative revenue programs, such as the revenue decoupling mechanisms under their New York electric and gas rate plans. For the Clean Energy Businesses, this includes revenue from wholesale services. (b) Included within the total for Renewables revenue at the Clean Energy Businesses is $14 million and $103 million for the years ended December 31, 2019 and 2018, respectively, of revenue related to engineering, procurement and construction services. (c) Parent company and consolidation adjustments.
Change in Unbilled Contract and Unearned Revenues |
| 2019 | 2018
(Millions of Dollars) | Unbilled contract revenue (a) |  | Unearned revenue (b) |  | Unbilled contract revenue (a) |  | Unearned revenue (b) |
Beginning balance as of January 1, | $29 |  | $20 |  | $58 |  | $87 |
Additions (c) | 86 |  | 1 |  | 144 |  | 38 |
Subtractions (c) | 86 |  | 4 | (d) | 173 |  | 105 | (d)
Ending balance as of December 31, | $29 |  | $17 |  | $29 |  | $20 |
(a) | Unbilled contract revenue represents accumulated incurred costs and earned profits on contracts (revenue arrangements), which have been recorded as revenue, but have not yet been billed to customers, and which represent contract assets as defined in Topic 606. Substantially all accrued unbilled contract revenue is expected to be collected within one year. Unbilled contract revenue arises from the cost-to-cost method of revenue recognition. Unbilled contract revenue from fixed-price type contracts is converted to billed receivables when amounts are invoiced to customers according to contractual billing terms, which generally occur when deliveries or other performance milestones are completed.
(b) | Unearned revenue represents a liability for billings to customers in excess of earned revenue, which are contract liabilities as defined in Topic 606.
(c) | Additions for unbilled contract revenue and subtractions for unearned revenue represent additional revenue earned. Additions for unearned revenue and subtractions for unbilled contract revenue represent billings. Activity also includes appropriate balance sheet classification for the period.
(d) Of the subtractions from unearned revenue, $4 million and $50 million was included in the balance as of January 1, 2019 and 2018, respectively.
Schedule of Total Excise Taxes Recorded in Operating Revenues | Total excise taxes (inclusive of gross receipts taxes) recorded in operating revenues were as follows:
| For the Years Ended December 31,
(Millions of Dollars) | 2019 |  | 2018 |  | 2017
Con Edison | $323 |  | $330 |  | $302
CECONY | 312 |  | 318 |  | 292
Capitalized Cost of Utility Plant | At December 31, 2019 and 2018, the capitalized cost of the Companies’ utility plant, net of accumulated depreciation, was as follows:
| Con Edison |  | CECONY
(Millions of Dollars) | 2019 |  | 2018 |  |  | 2019 |  | 2018 |
Electric |  |  |  |  |  |  |
Generation | $591 |  | $593 |  | $591 |  | $592
Transmission | 3,634 |  | 3,333 |  | 3,380 |  | 3,106
Distribution | 20,676 |  | 19,750 |  | 19,602 |  | 18,716
General | 43 |  | — |  |  | 43 |  | — |
Gas (a) | 8,617 |  | 7,714 |  | 7,961 |  | 7,107
Steam | 1,813 |  | 1,830 |  | 1,813 |  | 1,830
General | 2,365 |  | 2,306 |  | 2,143 |  | 2,102
Held for future use | 75 |  | 76 |  | 67 |  | 67
Construction work in progress | 1,937 |  | 1,978 |  | 1,812 |  | 1,850
Net Utility Plant | $39,751 |  | $37,580 |  | $37,412 |  | $35,370
(a) Primarily distribution.
Schedule of Investment Assets | The following investment assets are included in the Companies' consolidated balance sheets at December 31, 2019 and 2018:
| Con Edison |  | CECONY
(Millions of Dollars) | 2019 |  | 2018 |  | 2019 |  |  | 2018 |
CET Gas investment in Stagecoach Gas Services, LLC | $924 |  | $948 |  |  | $— |  |  |  | $— |
CET Gas investment in Mountain Valley Pipeline, LLC (a) | 602 |  | 363 |  | — |  |  | — |
Supplemental retirement income plan assets (b) | 397 |  | 326 |  | 371 |  | 301
Deferred income plan assets | 81 |  | 75 |  | 81 |  | 75
CET Electric investment in New York Transco, LLC | 59 |  | 52 |  | — |  |  | — |
Other | 2 |  | 2 |  | 9 |  | 9
Total investments | $2,065 |  | $1,766 |  | $461 |  | $385
(a) | See Note U.
(b) See Note E.
Research and Development Costs | Research and development costs were as follows:
| For the Years Ended December 31,
(Millions of Dollars) | 2019 |  | 2018 |  | 2017
Con Edison | $24 |  | $24 |  | $24
CECONY | 23 |  | 23 |  | 23
Basic and Diluted EPS | Basic and diluted EPS for Con Edison are calculated as follows:
| For the Years Ended December 31,
(Millions of Dollars, except per share amounts/Shares in Millions) | 2019 |  | 2018 |  | 2017
Net income for common stock | $1,343 |  | $1,382 |  | $1,525
Weighted average common shares outstanding – basic | 328.5 |  | 311.7 |  | 307.1
Add: Incremental shares attributable to effect of potentially dilutive securities | 1.0 |  | 1.2 |  | 1.7
Adjusted weighted average common shares outstanding – diluted | 329.5 |  | 312.9 |  | 308.8
Net Income per common share – basic | $4.09 |  | $4.43 |  | $4.97
Net Income per common share – diluted | $4.08 |  | $4.42 |  | $4.94
Changes in Accumulated Other Comprehensive Income/(Loss) | Changes to accumulated other comprehensive income/(loss) (OCI) for Con Edison and CECONY are as follows:
(Millions of Dollars) | Con Edison |  | CECONY |
Accumulated OCI, net of taxes, at December 31, 2016 (a) | $(27) |  | $(7)
OCI before reclassifications, net of tax of $3 and $1 for Con Edison and CECONY, respectively | (4) |  | — |
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $(3) and $(1) for Con Edison and CECONY, respectively (a)(b) | 5 |  | 1
Total OCI, net of taxes, at December 31, 2017 | 1 |  | 1
Accumulated OCI, net of taxes, at December 31, 2017 (a) | $(26) |  | $(6)
OCI before reclassifications, net of tax of $3 for Con Edison | 4 |  | — |
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $(2) for Con Edison (a)(b) | 6 |  | 1
Total OCI, net of taxes, at December 31, 2018 | 10 |  | 1
Accumulated OCI, net of taxes, at December 31, 2018 (a) | $(16) |  | $(5)
OCI before reclassifications, net of tax of $(6) and $(1) for Con Edison and CECONY, respectively | (10) |  | (3)
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $(2) for Con Edison (a)(b) | 7 |  | 2
Total OCI, net of taxes, at December 31, 2019 | (3) |  | (1)
Accumulated OCI, net of taxes, at December 31, 2019 (a) | $(19) |  | $(6)
(a) Tax reclassified from accumulated OCI is reported in the income tax expense line item of the consolidated income statement. (b) For the portion of unrecognized pension and other postretirement benefit costs relating to the Utilities, costs are recorded into, and amortized out of, regulatory assets and liabilities instead of OCI. The net actuarial losses and prior service costs recognized during the period are included in the computation of total periodic pension and other postretirement benefit cost. See Notes E and F.
Restrictions on Cash and Cash Equivalents | At December 31, 2019 and 2018, cash, temporary cash investments and restricted cash for Con Edison and CECONY were as follows:
| At December 31,
| Con Edison |  | CECONY
(Millions of Dollars) | 2019 |  | 2018 |  | 2019 |  |  | 2018 |
Cash and temporary cash investments | $981 |  | $895 |  | $933 |  | $818
Restricted cash (a) | 236 |  | 111 |  | — |  |  | — |
Total cash, temporary cash investments and restricted cash | $1,217 |  | $1,006 |  | $933 |  | $818
(a) Restricted cash included cash of the Clean Energy Businesses' renewable electric production project subsidiaries ($236 million and $109 million at December 31, 2019 and 2018, respectively) that, under the related project debt agreements, is either restricted until the various maturity dates of the project debt to being used for normal operating expenses and capital expenditures, debt service, and required reserves or restricted as a result of the PG&E bankruptcy. During the pendency of the PG&E bankruptcy, unless the lenders for the related project debt otherwise agree, cash may not be distributed from the related projects to the Clean Energy Businesses. See "Long-Lived and Intangible Assets,” above and "Long-term Debt" in Note C. In addition, restricted cash included O&R's New Jersey utility subsidiary, Rockland Electric Company transition bond charge collections, net of principal, interest, trustee and service fees ($2 million at December 31, 2018).
Schedule of Cash and Cash Equivalents | At December 31, 2019 and 2018, cash, temporary cash investments and restricted cash for Con Edison and CECONY were as follows:
| At December 31,
| Con Edison |  | CECONY
(Millions of Dollars) | 2019 |  | 2018 |  | 2019 |  |  | 2018 |
Cash and temporary cash investments | $981 |  | $895 |  | $933 |  | $818
Restricted cash (a) | 236 |  | 111 |  | — |  |  | — |
Total cash, temporary cash investments and restricted cash | $1,217 |  | $1,006 |  | $933 |  | $818
(a) Restricted cash included cash of the Clean Energy Businesses' renewable electric production project subsidiaries ($236 million and $109 million at December 31, 2019 and 2018, respectively) that, under the related project debt agreements, is either restricted until the various maturity dates of the project debt to being used for normal operating expenses and capital expenditures, debt service, and required reserves or restricted as a result of the PG&E bankruptcy. During the pendency of the PG&E bankruptcy, unless the lenders for the related project debt otherwise agree, cash may not be distributed from the related projects to the Clean Energy Businesses. See "Long-Lived and Intangible Assets,” above and "Long-term Debt" in Note C. In addition, restricted cash included O&R's New Jersey utility subsidiary, Rockland Electric Company transition bond charge collections, net of principal, interest, trustee and service fees ($2 million at December 31, 2018).

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