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Consolidated Edison, Inc.
RATIO OF EARNINGS TO FIXED CHARGES
(MILLIONS OF DOLLARS)
| | | For the Twelve Months Ended December 31, | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| For the Six Months Ended June 30, 2003 | For the Twelve Months Ended June 30, 2003 | |||||||||||||||||||
| 2002 | 2001 | 2000 | 1999 | 1998 | ||||||||||||||||
Earnings | |||||||||||||||||||||
Net Income for Common Stock | $ | 220 | $ | 622 | $ | 646 | $ | 682 | $ | 583 | $ | 701 | $ | 713 | |||||||
Preferred Stock Dividend | 6 | 11 | 13 | 14 | 14 | 13 | 17 | ||||||||||||||
Cumulative Effect of Changes in Accounting Principles | — | 2 | 22 | — | — | — | — | ||||||||||||||
(Income) or Loss from Equity Investees | — | 1 | — | — | (1 | ) | 1 | 1 | |||||||||||||
Minority Interest Loss | 1 | 2 | 2 | 2 | 1 | — | — | ||||||||||||||
Income Tax | 137 | 359 | 376 | 442 | 307 | 373 | 405 | ||||||||||||||
Pre-Tax Income from Continuing Operations | $ | 364 | $ | 997 | $ | 1,059 | $ | 1,140 | $ | 904 | $ | 1,088 | $ | 1,136 | |||||||
Add: Fixed Charges* | 239 | 500 | 493 | 480 | 452 | 378 | 372 | ||||||||||||||
Add: Distributed Income of Equity Investees | — | — | — | — | 1 | 1 | — | ||||||||||||||
Subtract: Interest Capitalized | 6 | 15 | 14 | — | — | — | — | ||||||||||||||
Subtract: Preferred Stock Dividend Requirement | 9 | 17 | 19 | 22 | 21 | 21 | 27 | ||||||||||||||
Earnings | $ | 588 | $ | 1,465 | $ | 1,519 | $ | 1,598 | $ | 1,336 | $ | 1,446 | $ | 1,481 | |||||||
*Fixed Charges | |||||||||||||||||||||
Interest on Long-term Debt | $ | 192 | 379 | $ | 373 | $ | 384 | $ | 351 | $ | 306 | $ | 295 | ||||||||
Amortization of Debt Discount, Premium and Expense | 6 | 12 | 12 | 13 | 12 | 13 | 14 | ||||||||||||||
Interest Capitalized | 6 | 15 | 14 | — | — | — | — | ||||||||||||||
Other Interest | 16 | 58 | 61 | 42 | 50 | 20 | 18 | ||||||||||||||
Interest Component of Rentals | 10 | 19 | 14 | 19 | 18 | 18 | 18 | ||||||||||||||
Preferred Stock Dividend Requirement | 9 | 17 | 19 | 22 | 21 | 21 | 27 | ||||||||||||||
Fixed Charges | $ | 239 | $ | 500 | $ | 493 | $ | 480 | $ | 452 | $ | 378 | $ | 372 | |||||||
Ratio of Earnings to Fixed Charges | 2.5 | 2.9 | 3.1 | 3.3 | 3.0 | 3.8 | 4.0 | ||||||||||||||
Consolidated Edison, Inc. RATIO OF EARNINGS TO FIXED CHARGES (MILLIONS OF DOLLARS)