XML 40 R26.htm IDEA: XBRL DOCUMENT
v3.22.2

Revenue Recognition | 6 Months Ended
--- | ---
Jun. 30, 2022
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Revenue RecognitionThe following table presents, for the three and six months ended June 30, 2022 and 2021, revenue from contracts with customers as defined in Accounting Standards Codification Topic 606, "Revenue from Contracts with Customers," as well as additional revenue from sources other than contracts with customers, disaggregated by major source.
| For the Three Months Ended June 30, 2022 | For the Three Months Ended June 30, 2021
(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 | $2,255 |  | $(15) | $2,240 | $1,953 |  | $10 | $1,963
Gas | 571 |  | 11 | 582 | 447 |  | 2 | 449
Steam | 82 |  | 2 | 84 | 71 |  | 3 | 74
Total CECONY | $2,908 |  | $(2) | $2,906 | $2,471 |  | $15 | $2,486
O&R |  |  |  |  |  |  |  |
Electric | 175 |  | 2 | 177 | 161 |  | (8) | 153
Gas | 65 |  | (4) | 61 | 44 |  | (3) | 41
Total O&R | $240 |  | $(2) | $238 | $205 |  | $(11) | $194
Clean Energy Businesses |  |  |  |  |  |  |  |
Renewables | 199 |  | — |  | 199 | 183 |  | — |  | 183
Energy services | 25 |  | — |  | 25 | 81 |  | — |  | 81
Develop/Transfer Projects | 8 |  | — |  | 8 | 9 |  | — |  | 9
Other | — |  |  | 40 |  | 40 | — |  |  | 18 | 18
Total Clean Energy Businesses | $232 |  | $40 | $272 | $273 |  | $18 |  | $291
Con Edison Transmission | 1 |  | — |  | 1 | 1 |  | — |  | 1
Other (b) | — |  |  | (2) |  | (2) | — |  |  | (1) | $(1)
Total Con Edison | $3,381 |  | $34 | $3,415 | $2,950 |  | $21 | $2,971
(a) For the Utilities, this includes primarily revenue or negative revenue adjustments from alternative revenue programs, such as the revenue decoupling mechanisms under their NY electric and gas rate plans (see "Rate Plans" in Note B). For the Clean Energy Businesses, this includes revenue from wholesale services. (b) Parent company and consolidation adjustments.
| For the Six Months Ended June 30, 2022 | For the Six Months Ended June 30, 2021
(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 | $4,360 |  | $(36) | $4,324 | $3,919 |  | $12 | $3,931
Gas | 1,681 |  | 32 | 1,713 | 1,394 |  | 29 | 1,423
Steam | 381 |  | 5 | 386 | 331 |  | 7 | 338
Total CECONY | $6,422 |  | $1 | $6,423 | $5,644 |  | $48 | $5,692
O&R |  |  |  |  |  |  |  |
Electric | 339 |  | 3 | 342 | 305 |  | (6) | 299
Gas | 188 |  | (8) | 180 | 152 |  | (9) | 143
Total O&R | $527 |  | $(5) | $522 | $457 |  | $(15) | $442
Clean Energy Businesses |  |  |  |  |  |  |  |
Renewables | 327 |  | — |  | 327 | 334 |  | — |  | 334
Energy services | 44 |  | — |  | 44 | 103 |  | — |  | 103
Develop/Transfer Projects | 19 |  | — |  | 19 | 12 |  | — |  | 12
Other | — |  |  | 142 |  | 142 | — |  |  | 66 | 66
Total Clean Energy Businesses | $390 |  | $142 | $532 | $449 |  | $66 |  | $515
Con Edison Transmission | 2 |  | — |  | 2 | 2 |  | — |  | 2
Other (b) | — |  |  | (4) |  | (4) | — |  |  | (3) | (3)
Total Con Edison | $7,341 |  | $134 | $7,475 | $6,552 |  | $96 | $6,648
(a) For the Utilities, this includes primarily revenue or negative revenue adjustments from alternative revenue programs, such as the revenue decoupling mechanisms under their NY electric and gas rate plans (see "Rate Plans" in Note B). For the Clean Energy Businesses, this includes revenue from wholesale services. (b) Parent company and consolidation adjustments.
| 2022 | 2021
(Millions of Dollars) | Unbilled contract revenue (a) | Unearned revenue (b) |  | Unbilled contract revenue (a) | Unearned revenue (b) |
Beginning balance as of January 1, | $35 | $7 |  | $11 | $41 |
Additions (c) | 48 | — |  |  | 107 | — |
Subtractions (c) | 62 | 4 | (d) | 78 | 29 | (d)
Ending balance as of June 30, | $21 | $3 |  | $40 | $12 |
(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 $29 million were included in the balances as of January 1, 2022 and 2021, respectively. As of June 30, 2022, the aggregate amount of the remaining fixed performance obligations of the Clean Energy Businesses under contracts with customers for energy services was $100 million, of which $61 million will be recognized within the next two years, and the remaining $39 million will be recognized pursuant to long-term service and maintenance agreements. Utilities' Assessment of Late Payment Charges In March 2020, the Utilities began suspending new late payment charges and certain other fees for all customers. For the three months ended June 30, 2021, the estimated amount of these revenues was $19 million and $18 million for Con Edison and CECONY, respectively. For the six months ended June 30, 2021, the estimated amount of these revenues was $37 million and $35 million for Con Edison and CECONY, respectively. The Utilities also began providing payment extensions for all customers that were scheduled to be disconnected prior to the start of the COVID-19 pandemic. In November 2021, the NYSPSC issued an order establishing a surcharge recovery mechanism for CECONY to collect, commencing December 1, 2021 through December 31, 2022, $43 million and $7 million for electric and gas, respectively, of late payment charges and fees that were not billed for the year ended December 31, 2020. In April 2022, the NYSPSC approved the October 2021 O&R NY joint proposal for new electric and gas rate plans for the three-year period January 2022 through December 2024 that includes certain COVID-19 provisions, such as: recovery of 2020 late payment charges over three years; reconciliation of late payment charges to amounts reflected in rates for years 2021 through 2024; and reconciliation of write-offs of customer accounts receivable balances to amounts reflected in rates from January 1, 2020 through December 31, 2024. CECONY resumed late payment charges for commercial and residential customers who have not experienced a change in financial circumstances due to the COVID-19 pandemic in September 2021 and October 2021, respectively. O&R resumed late payment charges for commercial and residential customers who have not experienced a change in financial circumstances due to the COVID-19 pandemic in October 2021. See "COVID-19 Regulatory Matters" in Note B.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration