Exhibit 12.2
Consolidated Edison Company of New York, Inc.
Ratio of Earnings to Fixed Charges
(Millions of Dollars)
For the Years Ended December 31, | ||||||||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
Earnings | ||||||||||||||||||||
Net Income for Common | $ | 1,014 | $ | 978 | $ | 893 | $ | 781 | $ | 783 | ||||||||||
Preferred Stock Dividend | 3 | 11 | 11 | 11 | 11 | |||||||||||||||
Cumulative Effect of Changes in Accounting Principles | — | — | — | — | — | |||||||||||||||
(Income) or Loss from Equity Investees | — | — | 2 | (1 | ) | — | ||||||||||||||
Minority Interest Loss | — | — | — | — | — | |||||||||||||||
Income Tax | 529 | 558 | 495 | 404 | 397 | |||||||||||||||
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Pre-Tax Income from Continuing Operations | 1,546 | 1,547 | 1,401 | 1,195 | 1,191 | |||||||||||||||
Add: Fixed Charges* | 573 | 561 | 578 | 582 | 520 | |||||||||||||||
Add: Amortization of Capitalized Interest | — | — | — | — | — | |||||||||||||||
Add: Distributed Income of Equity Investees | — | — | — | — | — | |||||||||||||||
Subtract: Interest Capitalized | — | — | — | — | — | |||||||||||||||
Subtract: Pre-Tax Preferred Stock Dividend Requirement | — | — | — | — | — | |||||||||||||||
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Earnings | $ | 2,119 | $ | 2,108 | $ | 1,979 | $ | 1,777 | $ | 1,711 | ||||||||||
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* Fixed Charges | ||||||||||||||||||||
Interest on Long-term Debt | 508 | 505 | $ | 520 | $ | 518 | $ | 458 | ||||||||||||
Amortization of Debt Discount, Premium and Expense | 17 | 18 | 17 | 16 | 16 | |||||||||||||||
Interest Capitalized | — | — | — | — | — | |||||||||||||||
Other Interest | 22 | 16 | 19 | 27 | 25 | |||||||||||||||
Interest Component of Rentals | 26 | 22 | 22 | 21 | 21 | |||||||||||||||
Pre-Tax Preferred Stock Dividend Requirement | — | — | — | — | — | |||||||||||||||
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Fixed Charges | $ | 573 | $ | 561 | $ | 578 | $ | 582 | $ | 520 | ||||||||||
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Ratio of Earnings to Fixed Charges | 3.7 | 3.8 | 3.4 | 3.1 | 3.3 | |||||||||||||||
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