Consolidated Edison (ED) 10-K 2013 FY Annual report

Exhibit 12.1

Consolidated Edison, Inc.

Ratio of Earnings to Fixed Charges

(Millions of Dollars)

			For the Years Ended December 31,
	2013		2012		2011		2010		2009
Earnings
Net Income for Common Stock	$	1,062	$	1,138	$	1,051	$	992	$	868
Preferred Stock Dividend		—		3		11		11		11
(Income) or Loss from Equity Investees		6		4		—		2		(1	)
Minority Interest Loss		—		—		—		—		—
Income Tax		476		600		600		548		440
Pre-Tax Income	$	1,544	$	1,745	$	1,662	$	1,553	$	1,318
Add: Fixed Charges*		764		638		642		660		660
Add: Distributed Income of Equity Investees		—		—		—		—		—
Subtract: Interest Capitalized		—		—		—		—		—
Subtract: Pre-Tax Preferred Stock Dividend Requirement		—		5		19		19		18
Earnings	$	2,308	$	2,378	$	2,285	$	2,194	$	1,960
*  Fixed Charges
Interest on Long-term Debt	$	562	$	568	$	562	$	580	$	574
Amortization of Debt Discount, Premium and Expense		16		18		20		17		16
Interest Capitalized		—		—		—		—		—
Other Interest		143		20		18		21		30
Interest Component of Rentals		43		27		23		23		22
Pre-Tax Preferred Stock Dividend Requirement		—		5		19		19		18
Fixed Charges	$	764	$	638	$	642	$	660	$	660
Ratio of Earnings to Fixed Charges		3.0		3.7		3.6		3.3		3.0