Exhibit 12.1
Consolidated Edison, Inc.
Ratio of Earnings to Fixed Charges
(Millions of Dollars)
For the Three Months Ended March 31, 2013 | For the Twelve Months Ended December 31, 2012 | For the Three Months Ended March 31, 2012 | ||||||||||
Earnings | ||||||||||||
Net Income for Common Stock | $192 | $1,138 | $277 | |||||||||
Preferred Stock Dividend | — | 3 | 3 | |||||||||
(Income) or Loss from Equity Investees | — | 4 | 1 | |||||||||
Minority Interest Loss | — | — | — | |||||||||
Income Tax | 57 | 600 | 134 | |||||||||
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Pre-Tax Income for Common Stock | $249 | $1,745 | $415 | |||||||||
Add: Fixed Charges* | 286 | 638 | 161 | |||||||||
Add: Distributed Income of Equity Investees | — | — | — | |||||||||
Subtract: Interest Capitalized | — | — | — | |||||||||
Subtract: Pre-Tax Preferred Stock Dividend Requirement | — | 5 | 5 | |||||||||
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Earnings | $535 | $2,378 | $571 | |||||||||
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* Fixed Charges | ||||||||||||
Interest on Long-term Debt | $139 | $568 | $141 | |||||||||
Amortization of Debt Discount, Premium and Expense | 4 | 18 | 4 | |||||||||
Interest Capitalized | — | — | — | |||||||||
Other Interest | 136 | 20 | 5 | |||||||||
Interest Component of Rentals | 7 | 27 | 6 | |||||||||
Pre-Tax Preferred Stock Dividend Requirement | — | 5 | 5 | |||||||||
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Fixed Charges | $286 | $ 638 | $161 | |||||||||
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Ratio of Earnings to Fixed Charges | 1.9 | 3.7 | 3.5 | |||||||||
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