Exhibit 12.1
Consolidated Edison, Inc.
Ratio of Earnings to Fixed Charges
(Millions of Dollars)
For the Nine Months Ended September 30, 2011 | For the Twelve Months Ended December 31, 2010 | For the Nine Months Ended September 30, 2010 | ||||||||||
Earnings | ||||||||||||
Net income from continuing operations | $ | 860 | $ | 992 | $ | 759 | ||||||
Preferred stock dividend | 8 | 11 | 9 | |||||||||
(Income) or loss from equity investees | — | 2 | — | |||||||||
Minority interest loss | — | — | — | |||||||||
Income tax | 477 | 548 | 433 | |||||||||
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Pre-tax income from continuing operations | $ | 1,345 | $ | 1,553 | $ | 1,201 | ||||||
Add: Fixed charges* | 483 | 660 | 495 | |||||||||
Add: Distributed income of equity investees | — | — | — | |||||||||
Subtract: Interest capitalized | — | — | — | |||||||||
Subtract: Pre-tax preferred stock dividend requirement | 14 | 19 | 15 | |||||||||
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Earnings | $ | 1,814 | $ | 2,194 | $ | 1,681 | ||||||
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* Fixed charges | ||||||||||||
Interest on long-term debt | $ | 423 | $ | 580 | $ | 437 | ||||||
Amortization of debt discount, premium and expense | 14 | 17 | 13 | |||||||||
Interest capitalized | — | — | — | |||||||||
Other interest | 15 | 21 | 13 | |||||||||
Interest component of rentals | 17 | 23 | 17 | |||||||||
Pre-tax preferred stock dividend requirement | 14 | 19 | 15 | |||||||||
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Fixed charges | $ | 483 | $ | 660 | $ | 495 | ||||||
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Ratio of Earnings to Fixed Charges | 3.8 | 3.3 | 3.4 | |||||||||
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