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Financial Information by Business Segment | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Financial Information by Business Segment | Financial Information by Business Segment In December 2024, the Companies adopted ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments improve the disclosures about a public entity’s reportable segments and address requests from investors for additional, more detailed information about a reportable segment’s expenses. Prior periods presented have been updated to conform to the requirements of the ASU. The business segments of each of the Companies, which are its operating segments, were determined based on management’s reporting and decision-making requirements in accordance with the accounting rules for segment reporting. Con Edison’s chief operating decision maker (CODM) is the Con Edison President and Chief Executive Officer, and CECONY’s CODMs are the CECONY Chief Executive Officer and the CECONY President. Con Edison's CODM is regularly provided with each company’s operating income to assess performance and allocate resources, including drivers of budget variances by regulated utility service for the Utilities, and for the nonregulated entities. CECONY’s CODMs are regularly provided with CECONY’s operating income to assess performance and allocate resources, including drivers of budget variances by CECONY's principal business segments. Con Edison’s principal business segments are CECONY’s regulated utility activities, O&R’s regulated utility activities and Con Edison Transmission. CECONY’s principal business segments are its regulated electric, gas and steam utility activities. All revenues of these business segments are from customers located in the United States of America. Also, all assets of the business segments are located in the United States of America. The accounting policies of the segments are the same as those described in Note A. Common services shared by the business segments are assigned directly or allocated based on various cost factors, depending on the nature of the service provided. The financial data for the business segments are as follows:
As of and for the Year Ended December 31, 2024 (Millions of Dollars) | Operating revenues | Inter- segment revenues | Other operations and maintenance(c) | Depreciation and amortization | Other operating expense (c) | Operating income | Other Income (deductions) | Interest Expense | Allowance for borrowed funds used during construction | Income Tax Expense | Total assets |  | Capital expenditures
CECONY |  |  |  |  |  |  |  |  |  |  |  |  |
Electric | $10,717 | $20 | $2,622 | $1,471 | $4,792 | $1,832 | $441 | $826 | ($41) | $193 | $46,275 |  | $3,088
Gas | 2,834 | 9 | 528 | 458 | 1,100 | 748 | 102 | 287 | (16) | 132 | 16,507 |  | 1,154
Steam | 578 | 75 | 203 | 108 | 254 | 13 | 35 | 54 | (1) | (11) | 2,868 |  | 132
Consolidation adjustments | — | (104) | — | — | — | — | — | — | — | — | — |  | —
Total CECONY | $14,129 | $— | $3,353 | $2,037 | $6,146 | $2,593 | $578 | $1,167 | ($58) | $314 | $65,650 |  | $4,374
O&R |  |  |  |  |  |  |  |  |  |  |  |  |
Electric | $852 | $— | $307 | $82 | $351 | $112 | $25 | $43 | ($5) | $24 | $2,596 |  | $214
Gas | 273 | — | 80 | 35 | 109 | 49 | 7 | 22 | — | 5 | 1,464 |  | 111
Total O&R | $1,125 | $— | $387 | $117 | $460 | $161 | $32 | $65 | ($5) | $29 | $4,060 |  | $325
Con Edison Transmission | $4 | $— | $11 | $1 | $— | ($8) | $61 | $— | $— | $8 | $470 |  | $29
Other (b) | (2) | — | — | — | 74 | (76) | (16) | 18 | — | (33) | 382 |  | —
Total Con Edison | $15,256 | $— | $3,751 | $2,155 | $6,680 | $2,670 | $655 | $1,250 | ($63) | $318 | $70,562 |  | $4,728
As of and for the Year Ended December 31, 2023 (Millions of Dollars) | Operating revenues | Inter- segment revenues | Other operations and maintenance (c) | Depreciation and amortization | Other operating expense (c) | Operating income | Other Income (deductions) | Interest Expense | Allowance for borrowed funds used during construction | Income Tax Expense | Total assets |  | Capital expenditures
CECONY |  |  |  |  |  |  |  |  |  |  |  |  |
Electric | $10,078 | $18 | $2,417 | $1,395 | $4,698 | $1,568 | $564 | $708 | ($34) | $217 | $42,226 |  | $2,909
Gas | 2,829 | 8 | 528 | 429 | 1,190 | 682 | 122 | 240 | (13) | 159 | 16,343 |  | 1,046
Steam | 569 | 74 | 231 | 100 | 311 | (73) | 46 | 46 | (2) | (18) | 3,031 |  | 128
Consolidation adjustments | — | (100) | — | — | — | — | — | — | — | — | — |  | —
Total CECONY | $13,476 | $— | $3,176 | $1,924 | $6,199 | $2,177 | $732 | $994 | ($49) | $358 | $61,600 |  | $4,083
O&R |  |  |  |  |  |  |  |  |  |  |  |  |
Electric | $759 | $— | $292 | $76 | $306 | $85 | $37 | $35 | ($3) | $20 | $2,329 |  | $211
Gas | 297 | — | 83 | 30 | 143 | 41 | 12 | 19 | — | 8 | 1,346 |  | 85
Total O&R | $1,056 | $— | $375 | $106 | $449 | $126 | $49 | $54 | ($3) | $28 | $3,675 |  | $296
Clean Energy Businesses (a) | $129 | $— | $47 | $— | $45 | $37 | $1 | $16 | $— | $3 | $— |  | $81
Con Edison Transmission | 4 | — | 11 | 1 | 1 | (9) | 62 | 2 | — | 14 | 414 |  | 49
Other (b) | (2) | — | (3) | — | (864) | 865 | (14) | 9 | — | 84 | 642 |  | —
Total Con Edison | $14,663 | $— | $3,606 | $2,031 | $5,830 | $3,196 | $830 | $1,075 | ($52) | $487 | $66,331 |  | $4,509
As of and for the Year Ended December 31, 2022 (Millions of Dollars) | Operating revenues | Inter- segment revenues | Other operations and maintenance (c) | Depreciation and amortization | Other operating expense (c) | Operating income | Other Income (deductions) | Interest Expense | Allowance for borrowed funds used during construction | Income Tax Expense | Total assets |  | Capital expenditures
CECONY |  |  |  |  |  |  |  |  |  |  |  |  |
Electric | $9,751 | $19 | $2,373 | $1,315 | $4,567 | $1,496 | $259 | $609 | ($27) | $134 | $39,153 |  | $2,522
Gas | 2,924 | 8 | 471 | 367 | 1,426 | 660 | 52 | 203 | (5) | 140 | 15,361 |  | 1,128
Steam | 593 | 76 | 198 | 96 | 320 | (21) | 21 | 43 | (1) | (19) | 2,931 |  | 108
Consolidation adjustments | — | (103) | — | — | — | — | — | — | — | — | — |  | —
Total CECONY | $13,268 | $— | $3,042 | $1,778 | $6,313 | $2,135 | $332 | $855 | ($33) | $255 | $57,445 |  | $3,758
O&R |  |  |  |  |  |  |  |  |  |  |  |  |
Electric | $773 | $— | $275 | $71 | $333 | $94 | $17 | $32 | ($3) | $17 | $2,247 |  | $167
Gas | 312 | — | 77 | 27 | 166 | 42 | 6 | 17 | — | 8 | 1,264 |  | 76
Total O&R | $1,085 | $— | $352 | $98 | $499 | $136 | $23 | $49 | ($3) | $25 | $3,511 |  | $243
Clean Energy Businesses (a) | $1,319 | $— | $503 | $178 | $270 | $368 | $3 | $(35) | $— | $84 | $7,224 |  | $399
Con Edison Transmission | 4 | — | 12 | 1 | 1 | (10) | 19 | 5 | — | 5 | 314 |  | 65
Other (b) | (6) | — | (4) | 1 | 2 | (5) | (51) | 14 | — | 129 | 571 |  | —
Total Con Edison | $15,670 | $— | $3,905 | $2,056 | $7,085 | $2,624 | $326 | $888 | ($36) | $498 | $69,065 |  | $4,465
(a)The Clean Energy Businesses were classified as held for sale as of December 31, 2022. On March 1, 2023, Con Edison completed the sale of all of the stock of the Clean Energy Businesses. As a result of this sale, the Clean Energy Businesses are no longer a principal segment. See Note W and Note X. (b)Other includes the parent company, Con Edison’s tax equity investments, consolidation adjustments and Broken Bow II, the deferred project held for sale at December 31, 2024, the sale and transfer of which was completed in January 2025. (c)Other operations and maintenance expenses constitute significant segment expenses which are regularly provided to the CODMs. Other operating expense includes other segment items (purchased power, fuel, gas purchased for resale, taxes other than income taxes) and, for 2023, the preliminary gain on the sale of the Clean Energy Businesses. See Note W.

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