| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | Period [Axis] |
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2016-01-01 - 2016-12-31 |
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Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Stock-Based Compensation Expense | The following table summarizes stock-based compensation expense recognized by the Companies in the years ended December 31, 2016, 2015 and 2014: | | | | | | | | | | | | | | Con Edison | | CECONY | (Millions of Dollars) | 2016 | | 2015 | | 2014 | | 2016 | | 2015 | | 2014 | Performance-based restricted stock | $42 | | $27 | | $22 | | $36 | | $23 | | $19 | Time-based restricted stock | 2 | | 1 | | 2 | | 2 | | 1 | | 2 | Non-employee director deferred stock compensation | 2 | | 2 | | 2 | | 2 | | 2 | | 2 | Stock purchase plan | 4 | | 4 | | 3 | | 4 | | 3 | | 3 | Total | $50 | | $34 | | $29 | | $44 | | $29 | | $26 | Income tax benefit | $20 | | $14 | | $12 | | $18 | | $12 | | $10 |
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Summary of Changes in Status of Stock Options | A summary of changes in the status of stock options as of December 31, 2016 is as follows: | | | | | | | | | | | | Con Edison | | CECONY | | Shares |
| | Weighted Average Exercise Price | | Shares |
| | Weighted Average Exercise Price | Outstanding at December 31, 2015 | 79,125 | | $43.50 | | 65,775 | | $43.50 | Exercised | 79,125 | | 43.50 | | 65,775 | | 43.50 | Forfeited | — |
| | — | | — |
| | — | Outstanding at December 31, 2016 | — |
| | $— | | — |
| | $— |
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Summary of Stock Options | The following table summarizes information about stock options for the years ended December 31, 2016 and 2015: | | | | | | | | | | | | | | Con Edison | | CECONY | (Millions of Dollars) | 2016 |
| | 2015 | | 2016 |
| | 2015 | Aggregate intrinsic value (a) | | | | | | | | Options outstanding |
| $— |
| | $2 | |
| $— |
| | $1 | Options exercised | 2 | | 3 | | 2 | | 3 | Cash received by Con Edison for payment of exercise price | 3 | | 6 | | 3 | | 5 |
(a) Aggregate intrinsic value represents the changes in the fair value of all outstanding options from their grant dates to December 31 of the years presented above. |
Assumptions Used to Calculate Fair Value of Awards | The assumptions used to calculate the fair value of the awards were as follows: | | | | | | | | 2016 | | 2015 | | 2014 | Risk-free interest rate (a) | 0.85% - 1.20% | | 0.64% - 3.28% | | 0.23% - 3.07% | Expected term (b) | 3 years | | 3 years | | 3 years | Expected share price volatility (c) | 17.72% - 18.22% | | 15.82% | | 13.14% |
| | (a) | The risk-free rate is based on the U.S. Treasury zero-coupon yield curve. |
| | (b) | The expected term of the Performance RSUs equals the vesting period. The Companies do not expect significant forfeitures to occur. |
| | (c) | Based on historical experience. |
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Summary of Changes in Status of Performance RSUs | A summary of changes in the status of the Performance RSUs’ TSR and non-TSR portions during the year ended December 31, 2016 is as follows: | | | | | | | | | Con Edison | CECONY | | | Weighted Average Grant Date Fair Value (a) | | Weighted Average Grant Date Fair Value (a) | | Units | TSR Portion (b) | Non-TSR Portion (c) | Units | TSR Portion (b) | Non-TSR Portion (c) | Non-vested at December 31, 2015 | 1,078,339 | $45.26 | $58.08 | 853,257 | $45.37 | $58.12 | Granted | 386,400 | 83.16 | 72.10 | 295,300 | 82.73 | 72.34 | Vested | (351,230) | 55.16 | 57.96 | (285,162) | 55.21 | 58.07 | Forfeited | (26,372) | 48.48 | 61.03 | (15,053) | 53.61 | 63.05 | Non-vested at December 31, 2016 | 1,087,137 | $55.45 | $63.03 | 848,342 | $54.92 | $63.00 |
| | (a) | The TSR and non-TSR Portions each account for 50 percent of the awards’ value. |
| | (b) | Fair value is determined using the Monte Carlo simulation described above. Weighted average grant date fair value does not reflect any accrual or payment of dividends prior to vesting. |
| | (c) | Fair value is determined using the market price of one share of Con Edison common stock on the grant date. The market price has not been discounted to reflect that dividends do not accrue and are not payable on Performance RSUs until vesting. |
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Summary of Changes in Status of Time-Based Awards | A summary of changes in the status of time-based awards during the year ended December 31, 2016 is as follows: | | | | | | | | | | Con Edison | | CECONY | | Units | | Weighted Average Grant Date Fair Value | | Units | | Weighted Average Grant Date Fair Value | Non-vested at December 31, 2015 | 64,980 | | $58.56 | | 61,630 | | $58.55 | Granted | 23,000 | | 76.62 | | 21,800 | | 76.62 | Vested | (20,900) | | 61.03 | | (19,800) | | 61.03 | Forfeited | (1,100) | | 60.13 | | (1,050) | | 60.43 | Non-vested at December 31, 2016 | 65,980 | | $64.04 | | 62,580 | | $64.03 |
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