XML 66 R38.htm IDEA: XBRL DOCUMENT v3.25.0.1
Financial Information by Business Segment
 12 Months Ended
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
Gas2,83495284581,100748102287(16)13216,5071,154
Steam57875203108254133554(1)(11)2,868132
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
Gas273—803510949722—51,464111
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
Gas2,82985284291,190682122240(13)15916,3431,046
Steam56974231100311(73)4646(2)(18)3,031128
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
Gas297—8330143411219—81,34685
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 Transmission4—1111(9)622—1441449
Other (b)
(2)—(3)—(864)865(14)9—84642—
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 constructionIncome
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
Gas2,92484713671,42666052203(5)14015,3611,128
Steam5937619896320(21)2143(1)(19)2,931108
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
Gas312—772716642617—81,26476
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 Transmission4—1211(10)195—531465
Other (b)(6)—(4)12(5)(51)14—129571—
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.