Exhibit 12.1
Consolidated Edison, Inc.
Ratio of Earnings to Fixed Charges
(Millions of Dollars)
For the Six Months Ended June 30, 2012 | For the Twelve Months Ended December 31, 2011 | For the Six Months Ended June 30, 2011 | ||||||||||
Earnings | ||||||||||||
Net Income for Common Stock | $ 491 | $1,051 | $ 477 | |||||||||
Preferred Stock Dividend | 3 | 11 | 6 | |||||||||
(Income) or Loss from Equity Investees | 2 | — | — | |||||||||
Minority Interest Loss | — | — | — | |||||||||
Income Tax | 240 | 600 | 252 | |||||||||
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Pre-Tax Income for Common Stock | $ 736 | $1,662 | $ 735 | |||||||||
Add: Fixed Charges* | 321 | 642 | 328 | |||||||||
Add: Distributed Income of Equity Investees | — | — | — | |||||||||
Subtract: Interest Capitalized | — | — | — | |||||||||
Subtract: Pre-Tax Preferred Stock Dividend Requirement | 5 | 19 | 9 | |||||||||
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Earnings | $1,052 | $2,285 | $1,054 | |||||||||
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* Fixed Charges | ||||||||||||
Interest on Long-term Debt | $ 285 | $ 562 | $ 282 | |||||||||
Amortization of Debt Discount, Premium and Expense | 10 | 20 | 11 | |||||||||
Interest Capitalized | — | — | — | |||||||||
Other Interest | 10 | 18 | 14 | |||||||||
Interest Component of Rentals | 11 | 23 | 12 | |||||||||
Pre-Tax Preferred Stock Dividend Requirement | 5 | 19 | 9 | |||||||||
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Fixed Charges | $ 321 | $ 642 | $ 328 | |||||||||
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Ratio of Earnings to Fixed Charges | 3.3 | 3.6 | 3.2 | |||||||||
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