CONSOLIDATED EDISON INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
ED$119.28+0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Consolidated Statement of Cash Flows
CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)
| For the Three Months Ended March 31, | ||
|---|---|---|
| (Millions of Dollars) | 2024 | 2023 |
| OPERATING ACTIVITIES | ||
| Net income | $720 | $1,430 |
| PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME | ||
| Depreciation and amortization | 539 | 499 |
| Deferred income taxes | 188 | (81) |
| Rate case amortization and accruals | 49 | 22 |
| Net derivative gains | — | 12 |
| Pre-tax loss/(gain) on sale of the Clean Energy Businesses | 30 | (855) |
| Other non-cash items, net | (49) | (86) |
| CHANGES IN ASSETS AND LIABILITIES | ||
| Accounts receivable – customers | (215) | 219 |
| Allowance for uncollectible accounts – customers | 34 | (78) |
| Materials and supplies, including fuel oil and gas in storage | 27 | 76 |
| Revenue decoupling mechanism receivable | (78) | 25 |
| Other receivables and other current assets | 98 | (13) |
| Unbilled revenue and net unbilled revenue deferrals | (26) | 48 |
| Prepayments | (554) | (564) |
| Accounts payable | (178) | (543) |
| Pensions and retiree benefits obligations, net | (86) | (43) |
| Pensions and retiree benefits contributions | (4) | (5) |
| Accrued taxes | (13) | 252 |
| Accrued interest | 128 | 97 |
| Superfund and environmental remediation costs | (6) | (3) |
| Distributions from equity investments | — | 6 |
| Deferred charges, noncurrent assets, leases, net and other regulatory assets | 30 | (321) |
| Deferred credits, noncurrent liabilities and other regulatory liabilities | 86 | (28) |
| Other current liabilities | (147) | 26 |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | 573 | 92 |
| INVESTING ACTIVITIES | ||
| Utility construction expenditures | (1,237) | (1,050) |
| Cost of removal less salvage | (107) | (94) |
| Non-utility construction expenditures | — | (140) |
| Proceeds from sale of the Clean Energy Businesses, net of cash and cash equivalents sold | — | 3,927 |
| Other investing activities | — | (25) |
| NET CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES | (1,344) | 2,618 |
| FINANCING ACTIVITIES | ||
| Net (payment)/issuance of short-term debt | 11 | (2,629) |
| Issuance of long-term debt | — | 500 |
| Retirement of long-term debt | — | (60) |
| Debt issuance costs | (1) | (4) |
| Common stock dividends | (274) | (284) |
| Issuance of common shares for stock plans | 15 | 15 |
| Repurchase of common shares | — | (1,000) |
| Distribution to noncontrolling interest | — | (4) |
| NET CASH FLOWS USED IN FINANCING ACTIVITIES | (249) | (3,466) |
| CASH, TEMPORARY CASH INVESTMENTS, AND RESTRICTED CASH: | ||
| NET CHANGE FOR THE PERIOD | (1,020) | (756) |
| BALANCE AT BEGINNING OF PERIOD | 1,195 | 1,530 |
| BALANCE AT END OF PERIOD | $175 | $774 |
| LESS: CHANGE IN CASH BALANCES HELD FOR SALE | 6 | 3 |
| BALANCE AT END OF PERIOD EXCLUDING HELD FOR SALE | $169 | $771 |
| SUPPLEMENTAL DISCLOSURE OF CASH INFORMATION | ||
| Cash paid during the period for: | ||
| Interest, net of capitalized interest | $135 | $156 |
| Income taxes | $3 | $10 |
|---|---|---|
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION | ||
| Construction expenditures in accounts payable | $441 | $444 |
| Issuance of common shares for dividend reinvestment | $13 | $4 |
| Software licenses acquired but unpaid as of end of period | $— | $2 |
| Equipment acquired but unpaid as of end of period | $11 | $17 |
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