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Consolidated Edison Inc, et al. – ‘10-K’ for 12/31/14 – ‘EX-18.1’

On:  Thursday, 2/19/15, at 5:03pm ET   ·   For:  12/31/14   ·   Accession #:  1193125-15-54350   ·   File #s:  1-01217, 1-14514

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/19/15  Consolidated Edison Inc           10-K       12/31/14  177:45M                                    Donnelley … Solutions/FA
          Consolidated Edison Co of New York Inc

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.91M 
 2: EX-10.1.4   Material Contract                                   HTML   9.58M 
 3: EX-10.1.5   Material Contract                                   HTML    460K 
 6: EX-23.1     Consent of Experts or Counsel                       HTML     51K 
12: EX-23.2     Consent of Experts or Counsel                       HTML     50K 
 4: EX-12.1     Statement re: Computation of Ratios                 HTML     70K 
11: EX-12.2     Statement re: Computation of Ratios                 HTML     71K 
 5: EX-18.1     Letter re: Change in Accounting Principles          HTML     51K 
 7: EX-31.1.1   Certification -- §302 - SOA'02                      HTML     54K 
 8: EX-31.1.2   Certification -- §302 - SOA'02                      HTML     54K 
13: EX-31.2.1   Certification -- §302 - SOA'02                      HTML     54K 
14: EX-31.2.2   Certification -- §302 - SOA'02                      HTML     54K 
 9: EX-32.1.1   Certification -- §906 - SOA'02                      HTML     51K 
10: EX-32.1.2   Certification -- §906 - SOA'02                      HTML     51K 
15: EX-32.2.1   Certification -- §906 - SOA'02                      HTML     51K 
16: EX-32.2.2   Certification -- §906 - SOA'02                      HTML     51K 
123: R1          Document and Entity Information                     HTML     86K  
91: R2          Consolidated Income Statement                       HTML    201K 
114: R3          Consolidated Statement of Comprehensive Income      HTML     82K  
128: R4          Consolidated Statement of Cash Flows                HTML    279K  
162: R5          Consolidated Balance Sheet                          HTML    331K  
96: R6          Consolidated Balance Sheet (Parenthetical)          HTML     67K 
113: R7          Consolidated Statement of Common Shareholders'      HTML    157K  
                Equity                                                           
84: R8          Schedule of Capitalization - Equity                 HTML     92K 
69: R9          Statement of Capitalization - Long-term Debt        HTML    444K 
164: R10         General                                             HTML     59K  
130: R11         Summary of Significant Accounting Policies          HTML    193K  
129: R12         Regulatory Matters                                  HTML    363K  
139: R13         Capitalization                                      HTML     90K  
140: R14         Short-Term Borrowing                                HTML     62K  
135: R15         Pension Benefits                                    HTML    449K  
142: R16         Other Postretirement Benefits                       HTML    379K  
115: R17         Environmental Matters                               HTML    119K  
125: R18         Other Material Contingencies                        HTML     88K  
133: R19         Electricity Purchase Agreements                     HTML    104K  
176: R20         Leases                                              HTML    119K  
154: R21         Goodwill                                            HTML     62K  
106: R22         Income Tax                                          HTML    236K  
132: R23         Stock-Based Compensation                            HTML    212K  
110: R24         Financial Information by Business Segment           HTML    293K  
56: R25         Derivative Instruments and Hedging Activities       HTML    239K 
156: R26         Fair Value Measurements                             HTML    225K  
169: R27         Variable Interest Entities                          HTML    117K  
78: R28         Asset Retirement Obligations                        HTML     65K 
77: R29         Related Party Transactions                          HTML     68K 
82: R30         New Financial Accounting Standards                  HTML     64K 
83: R31         Schedule I - Condensed Financial Information        HTML    123K 
85: R32         Schedule II - Valuation and Qualifying Accounts     HTML     88K 
37: R33         Summary of Significant Accounting Policies          HTML    185K 
                (Policies)                                                       
151: R34         Summary of Significant Accounting Policies          HTML    111K  
                (Tables)                                                         
102: R35         Regulatory Matters (Tables)                         HTML    201K  
107: R36         Capitalization (Tables)                             HTML     70K  
62: R37         Pension Benefits (Tables)                           HTML    250K 
175: R38         Other Postretirement Benefits (Tables)              HTML    222K  
23: R39         Environmental Matters (Tables)                      HTML     81K 
88: R40         Other Material Contingencies (Tables)               HTML     63K 
160: R41         Electricity Purchase Agreements (Tables)            HTML     83K  
59: R42         Leases (Tables)                                     HTML     86K 
76: R43         Income Tax (Tables)                                 HTML    144K 
81: R44         Stock-Based Compensation (Tables)                   HTML    133K 
92: R45         Financial Information by Business Segment (Tables)  HTML    171K 
36: R46         Derivative Instruments and Hedging Activities       HTML    152K 
                (Tables)                                                         
68: R47         Fair Value Measurements (Tables)                    HTML    135K 
28: R48         Variable Interest Entities (Tables)                 HTML     87K 
158: R49         Related Party Transactions (Tables)                 HTML     58K  
58: R50         Summary of Significant Accounting Policies -        HTML    101K 
                Additional Information (Detail)                                  
153: R51         Summary of Significant Accounting Policies -        HTML    105K  
                Capitalized Cost of Utility Plant (Detail)                       
63: R52         Summary of Significant Accounting Policies -        HTML     58K 
                Schedule of Total Excise Taxes Recorded in                       
                Operating Revenues (Detail)                                      
89: R53         Summary of Significant Accounting Policies -        HTML     58K 
                Research and Development Costs (Detail)                          
27: R54         Summary of Significant Accounting Policies -        HTML     76K 
                Earnings Per Common Share (Detail)                               
33: R55         Summary of Significant Accounting Policies -        HTML     75K 
                Changes in Accumulated Other Comprehensive Income                
                by Component (Detail)                                            
80: R56         Summary of Significant Accounting Policies -        HTML     61K 
                Changes in Accumulated Other Comprehensive Income                
                by Component (Parenthetical) (Detail)                            
44: R57         Regulatory Matters - Summary of Utilities Rate      HTML    179K 
                Plans (CECONY-Electric) (Detail)                                 
165: R58         Regulatory Matters - Summary of Utilities Rate      HTML     75K  
                Plans (CECONY-Electric) (Parenthetical) (Detail)                 
100: R59         Regulatory Matters - Additional Information         HTML    115K  
                (Detail)                                                         
137: R60         Regulatory Matters - Summary of Utilities Rate      HTML    174K  
                Plans (CECONY-Gas) (Detail)                                      
67: R61         Regulatory Matters - Summary of Utilities Rate      HTML     66K 
                Plans (CECONY-Gas) (Parenthetical) (Detail)                      
72: R62         Regulatory Matters - Summary of Utilities Rate      HTML    151K 
                Plans (CECONY-Steam) (Detail)                                    
148: R63         Regulatory Matters - Summary of Utilities Rate      HTML     67K  
                Plans (CECONY-Steam) (Parenthetical) (Detail)                    
143: R64         Regulatory Matters - Summary of Utilities Rate      HTML    102K  
                Plans (O&R New York-Electric) (Detail)                           
105: R65         Regulatory Matters - Summary of Utilities Rate      HTML    107K  
                Plans (O&R New York-Gas) (Detail)                                
146: R66         Regulatory Matters - Summary of Utilities Rate      HTML     84K  
                Plans (Rockland Electric Company (Reco)) (Detail)                
64: R67         Regulatory Matters - Summary of Utilities Rate      HTML     60K 
                Plans (Pike County Light & Power Company                         
                (Pike)-Electric) (Detail)                                        
111: R68         Regulatory Matters - Summary of Utilities Rate      HTML     55K  
                Plans (Pike-Gas) (Detail)                                        
168: R69         Regulatory Matters - Other Regulatory Matters -     HTML     88K  
                Additional Information (Detail)                                  
31: R70         Regulatory Matters - Regulatory Assets and          HTML    242K 
                Liabilities (Detail)                                             
55: R71         Capitalization - Additional Information (Detail)    HTML    109K 
90: R72         Capitalization - Schedule of Long-Term Debt         HTML     71K 
                Maturities (Detail)                                              
42: R73         Capitalization - Carrying Amounts and Fair Values   HTML     62K 
                of Long-Term Debt (Detail)                                       
174: R74         Short-Term Borrowing - Additional Information       HTML     95K  
                (Detail)                                                         
60: R75         Pension Benefits - Total Periodic Benefit Costs     HTML    108K 
                (Detail)                                                         
47: R76         Pension Benefits - Total Periodic Benefit Costs     HTML     54K 
                (Parenthetical) (Detail)                                         
54: R77         Pension Benefits - Schedule of Funded Status        HTML    138K 
                (Detail)                                                         
34: R78         Pension Benefits - Additional Information (Detail)  HTML    104K 
38: R79         Pension Benefits - Schedule of Assumptions          HTML     80K 
                (Detail)                                                         
126: R80         Pension Benefits - Schedule of Expected Benefit     HTML     74K  
                Payments (Detail)                                                
52: R81         Pension Benefits - Schedule of Plan Assets          HTML     86K 
                Allocations (Detail)                                             
166: R82         Pension Benefits - Schedule of Fair Value of Plan   HTML    154K  
                Assets (Detail)                                                  
86: R83         Pension Benefits - Reconciliation of Fair Value     HTML    135K 
                Balances for Net Assets (Detail)                                 
134: R84         Pension Benefits - Schedule of Employer             HTML     58K  
                Contribution to Defined Savings Plan (Detail)                    
145: R85         Other Postretirement Benefits - Net Periodic        HTML    104K  
                Postretirement Benefit Costs (Detail)                            
49: R86         Other Postretirement Benefits - Schedule of Funded  HTML    150K 
                Status (Detail)                                                  
53: R87         Other Postretirement Benefits - Additional          HTML     97K 
                Information (Detail)                                             
163: R88         Other Postretirement Benefits - Schedule of         HTML     71K  
                Actuarial Assumptions (Detail)                                   
43: R89         Other Postretirement Benefits - Schedule of Change  HTML     69K 
                of Assumed Health Care Cost Trend Rate (Detail)                  
127: R90         Other Postretirement Benefits - Schedule of         HTML     75K  
                Expected Benefit Payments (Detail)                               
118: R91         Other Postretirement Benefits - Schedule of Plan    HTML     81K  
                Assets Allocations (Detail)                                      
149: R92         Other Postretirement Benefits - Schedule of Fair    HTML    101K  
                Values of Plan Assets (Detail)                                   
117: R93         Other Postretirement Benefits - Reconciliation of   HTML     98K  
                Fair Value Balances for Net Assets (Detail)                      
97: R94         Environmental Matters - Accrued Liabilities and     HTML     79K 
                Regulatory Assets (Detail)                                       
157: R95         Environmental Matters - Additional Information      HTML     74K  
                (Detail)                                                         
93: R96         Environmental Matters - Environmental Remediation   HTML     60K 
                Costs (Detail)                                                   
61: R97         Environmental Matters - Accrued Liability for       HTML     73K 
                Asbestos Suits and Workers' Compensation                         
                Proceedings (Detail)                                             
108: R98         Other Material Contingencies - Additional           HTML     99K  
                Information (Detail)                                             
101: R99         Other Material Contingencies - Total Guarantees     HTML     85K  
                (Detail)                                                         
79: R100        Electricity Purchase Agreements - Summary of        HTML     70K 
                Significant Terms of Electricity Purchase                        
                Agreements (Detail)                                              
177: R101        Electricity Purchase Agreements - Summary of        HTML     63K  
                Estimated Capacity and Other Fixed Payments                      
                (Detail)                                                         
147: R102        Electricity Purchase Agreements - Summary of        HTML     72K  
                Capacity, Energy and Other Fixed Payments (Detail)               
116: R103        Leases - Schedule of Capital Leases (Detail)        HTML     56K  
35: R104        Leases - Additional Information (Detail)            HTML     95K 
159: R105        Leases - Future Minimum Lease Commitments (Detail)  HTML     82K  
167: R106        Leases - Future Minimum Rental Payments for         HTML     75K  
                Operating Leases (Detail)                                        
161: R107        Leases - Schedule of Leveraged Lease Transactions   HTML     62K  
                Effect on Consolidated Income Statement (Detail)                 
112: R108        Goodwill - Additional Information (Detail)          HTML     64K  
45: R109        Income Tax - Schedule of Components of Income Tax   HTML     86K 
                (Detail)                                                         
138: R110        Income Tax - Schedule of Differences on Deferred    HTML    133K  
                Tax Assets and Liabilities (Detail)                              
65: R111        Income Tax - Schedule of Income Tax Reconciliation  HTML     83K 
                (Detail)                                                         
26: R112        Income Tax - Additional Information (Detail)        HTML    114K 
95: R113        Income Tax - Summary of Unrecognized Tax Benefits   HTML     75K 
                (Detail)                                                         
87: R114        Stock-Based Compensation - Additional Information   HTML    136K 
                (Detail)                                                         
155: R115        Stock-Based Compensation - Stock-Based              HTML     89K  
                Compensation Expense (Detail)                                    
71: R116        Stock-Based Compensation - Summary of Status of     HTML     78K 
                Stock Options (Detail)                                           
171: R117        Stock-Based Compensation - Summary of Status of     HTML     54K  
                Stock Options (Parenthetical) (Detail)                           
39: R118        Stock-Based Compensation - Summary of Stock         HTML     66K 
                Options (Detail)                                                 
122: R119        Stock-Based Compensation - Assumptions Used to      HTML     65K  
                Calculate Fair Value (Detail)                                    
144: R120        Stock-Based Compensation - Assumptions Used to      HTML     53K  
                Calculate Fair Value (Parenthetical) (Detail)                    
29: R121        Stock-Based Compensation - Summary of Changes in    HTML    103K 
                Status of Performance RSUs' (Detail)                             
119: R122        Stock-Based Compensation - Summary of Changes in    HTML     55K  
                Status of Performance RSUs' (Parenthetical)                      
                (Detail)                                                         
109: R123        Stock-Based Compensation - Summary of Changes in    HTML     89K  
                Status of Time-Based Awards (Detail)                             
32: R124        Financial Information by Business Segment -         HTML    213K 
                Financial Data for Business Segments (Detail)                    
124: R125        Financial Information by Business Segment -         HTML     57K  
                Financial Data for Business Segments                             
                (Parenthetical) (Detail)                                         
173: R126        Derivative Instruments and Hedging Activities -     HTML    127K  
                Fair Values of Commodity Derivatives Including                   
                Offsetting of Assets and Liabilities (Detail)                    
40: R127        Derivative Instruments and Hedging Activities -     HTML     57K 
                Fair Values of Commodity Derivatives Including                   
                Offsetting of Assets and Liabilities                             
                (Parenthetical) (Detail)                                         
73: R128        Derivative Instruments and Hedging Activities -     HTML    101K 
                Realized and Unrealized Gains or Losses on                       
                Commodity Derivatives (Detail)                                   
150: R129        Derivative Instruments and Hedging Activities -     HTML     59K  
                Realized and Unrealized Gains or Losses on                       
                Commodity Derivatives (Parenthetical) (Detail)                   
172: R130        Derivative Instruments and Hedging Activities -     HTML     67K  
                Hedged Volume of Derivative Transactions (Detail)                
104: R131        Derivative Instruments and Hedging Activities -     HTML     65K  
                Additional Information (Detail)                                  
120: R132        Derivative Instruments and Hedging Activities -     HTML     70K  
                Aggregate Fair Value of Companies' Derivative                    
                Instruments with Credit-Risk-Related Contingent                  
                Features (Detail)                                                
41: R133        Derivative Instruments and Hedging Activities -     HTML     62K 
                Aggregate Fair Value of Companies' Derivative                    
                Instruments with Credit-Risk-Related Contingent                  
                Features (Parenthetical) (Detail)                                
46: R134        Fair Value Measurements - Assets and Liabilities    HTML    151K 
                Measured at Fair Value on Recurring Basis (Detail)               
94: R135        Fair Value Measurements - Assets and Liabilities    HTML     53K 
                Measured at Fair Value on Recurring Basis                        
                (Parenthetical) (Detail)                                         
75: R136        Fair Value Measurements - Schedule of Commodity     HTML    106K 
                Derivatives (Detail)                                             
141: R137        Fair Value Measurements - Reconciliation of         HTML     77K  
                Beginning and Ending Net Balances for Assets and                 
                Liabilities Measured at Level 3 Fair Value                       
                (Detail)                                                         
98: R138        Fair Value Measurements - Additional Information    HTML     67K 
                (Detail)                                                         
70: R139        Variable Interest Entities - Additional             HTML    100K 
                Information (Detail)                                             
99: R140        Variable Interest Entities - Schedule of Sale and   HTML     76K 
                Deconsolidation of a Variable Interest Entity                    
                (Detail)                                                         
57: R141        Variable Interest Entities - Schedule of Sale and   HTML     53K 
                Deconsolidation of a Variable Interest Entity                    
                (Parenthetical) (Detail)                                         
24: R142        Variable Interest Entities - Schedule of Assets     HTML     64K 
                and Liabilities Included in Consolidated Balance                 
                Sheet (Detail)                                                   
152: R143        Variable Interest Entities - Summary of VIEs        HTML     85K  
                (Detail)                                                         
131: R144        Variable Interest Entities - Summary of VIEs        HTML     64K  
                (Parenthetical) (Detail)                                         
50: R145        Asset Retirement Obligations - Additional           HTML     71K 
                Information (Detail)                                             
121: R146        Related Party Transactions - Summary of Costs of    HTML     58K  
                Administrative and Other Services Provided and                   
                Received (Detail)                                                
103: R147        Related Party Transactions - Additional             HTML     62K  
                Information (Detail)                                             
48: R148        Schedule I - Condensed Financial Information -      HTML    101K 
                Condensed Statement of Income and Comprehensive                  
                Income (Detail)                                                  
51: R149        Schedule I - Condensed Financial Information -      HTML    166K 
                Condensed Statement of Cash Flows (Detail)                       
136: R150        Schedule I - Condensed Financial Information -      HTML    165K  
                Condensed Balance Sheet (Detail)                                 
66: R151        Schedule II - Valuation and Qualifying Accounts -   HTML     78K 
                Valuation and Qualifying Accounts (Detail)                       
170: XML         IDEA XML File -- Filing Summary                      XML    285K  
30: EXCEL       IDEA Workbook of Financial Reports                  XLSX    693K 
74: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS   5.27M 
17: EX-101.INS  XBRL Instance -- ed-20141231                         XML   9.02M 
19: EX-101.CAL  XBRL Calculations -- ed-20141231_cal                 XML    472K 
20: EX-101.DEF  XBRL Definitions -- ed-20141231_def                  XML   2.59M 
21: EX-101.LAB  XBRL Labels -- ed-20141231_lab                       XML   3.00M 
22: EX-101.PRE  XBRL Presentations -- ed-20141231_pre                XML   3.02M 
18: EX-101.SCH  XBRL Schema -- ed-20141231                           XSD    522K 
25: ZIP         XBRL Zipped Folder -- 0001193125-15-054350-xbrl      Zip    611K 


‘EX-18.1’   —   Letter re: Change in Accounting Principles


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



  EX-18.1  

Exhibit 18.1

February 19, 2015

Board of Directors

Consolidated Edison, Inc.

4 Irving Place

New York, NY 10003

Dear Directors:

We are providing this letter to you for inclusion as an exhibit to your Form 10-K filing pursuant to Item 601 of Regulation S-K.

We have audited the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 and issued our report thereon dated February 19, 2015. Note K to the financial statements describes a change in the timing of the Company’s annual goodwill impairment testing dates from either January 1 or December 31 to October 1, which is considered a change in accounting principle. It should be understood that the preferability of one acceptable method of accounting over another for the selection of the annual goodwill impairment testing date has not been addressed in any authoritative accounting literature, and in expressing our concurrence below we have relied on management’s determination that this change in accounting principle is preferable. Based on our reading of management’s stated reasons and justification for this change in accounting principle in the Form 10-K, and our discussions with management as to their judgment about the relevant business planning factors relating to the change, we concur with management that such change represents, in the Company’s circumstances, the adoption of a preferable accounting principle in conformity with Accounting Standards Codification 250, Accounting Changes and Error Corrections.

Very truly yours,

/s/ PricewaterhouseCoopers LLP


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/19/158-K
For Period end:12/31/144,  ARS
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