Selected Quarterly Information First Second Third Fourth 2003 (Millions of Dollars)  Quarter Quarter Quarter Quarter Operating revenues $2,571 $2,176 $2,801 $2,279 Operating income 256 164 361 153 Income for common stock before cumulative effect of changes  in accounting principles 155 66 257 47 Cumulative effect of changes in accounting principles - - - 3 Net income for common stock 155 66 257 50 Basic earnings per common share before cumulative effect  of changes in accounting principles $0.72 $0.29 $1.17 $0.19 Cumulative effect of changes in accounting principles - - - 0.02 Basic earnings per common share after cumulative effect  of changes in accounting principles $0.72 $0.29 $1.17 $0.21 Diluted earnings per common share before cumulative effect  of changes in accounting principles $0.72 $0.29 $1.16 $0.19 Cumulative effect of changes in accounting principles - - - 0.02 Diluted earnings per common share after cumulative effect  of changes in accounting principles $0.72 $0.29 $1.16 $0.21 2002 (Millions of Dollars)  Operating revenues $2,058 $1,848 $2,539 $2,057 Operating income 258 200 386 216 Income for common stock before  cumulative effect of changes in accounting principles 166 98 284 120 Cumulative effect of changes in accounting principles (20) - - (2)  Net income for common stock 146 98 284 118 Basic earnings per common share before  cumulative effect of changes in accounting principles $0.78  $0.46 $1.34 $0.56 Cumulative effect of changes in accounting principles (0.10) - - (0.01) Basic earnings per common share after  cumulative effect of changes in accounting principles  $0.68 $0.46 $1.34 $0.55 Diluted earnings per common share before  cumulative effect of changes in accounting principles $0.78 $0.46 $1.33 $0.56 Cumulative effect of changes in accounting principles (0.10) - - (0.01) Diluted earnings per common share after  cumulative effect of changes in accounting principles $0.68 $0.46 $1.33 $0.55 In the opinion of Con Edison, these quarterly amounts include all adjustments, consisting only of normal recurring accruals,  necessary for a fair presentation. Market Price Range in Consolidated Reporting System and Dividends Paid on Common Stock 2003 2002 Dividends Dividends  High Low Paid High Low Paid 1st Quarter $46.02 $36.55 $0.56 $42.66 $39.30 $0.555 2nd Quarter $44.26 $38.20 $0.56 $45.40 $40.10 $0.555 3rd Quarter $43.78 $38.55 $0.56 $43.80 $32.65 $0.555 4th Quarter $43.48 $38.80 $0.56 $45.16 $39.02 $0.555 As of January 31, 2004, there were 93,760 holders of recor of Con Edison’s Common Shares. Con Edison Annual Report 2003 19