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Con Edison Company of New York, Inc.
Ratio of Earnings to Fixed Charges
(Millions of Dollars)
| | For the Twelve Months Ended December 31, | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| For the Nine Months Ended September 30, 2003 | |||||||||||||||||
| 2002 | 2001 | 2000 | 1999 | 1998 | |||||||||||||
Earnings | ||||||||||||||||||
Net Income for Common Stock | $ | 457 | $ | 605 | $ | 649 | $ | 570 | $ | 698 | $ | 728 | ||||||
Preferred Stock Dividend | 8 | 13 | 14 | 14 | 14 | 17 | ||||||||||||
Cumulative Effect of Changes in Accounting Principles | — | — | — | — | — | — | ||||||||||||
(Income) or Loss from Equity Investees | — | 1 | — | — | — | 1 | ||||||||||||
Minority Interest Loss | — | — | — | — | — | — | ||||||||||||
Income Tax | 294 | 342 | 427 | 290 | 366 | 414 | ||||||||||||
Pre-Tax Income from Continuing Operations | $ | 759 | $ | 961 | $ | 1,090 | $ | 874 | $ | 1,078 | $ | 1,160 | ||||||
Add: Fixed Charges* | 298 | 408 | 410 | 392 | 340 | 346 | ||||||||||||
Add: Amortization of Capitalized Interest | — | — | — | — | — | — | ||||||||||||
Add: Distributed Income of Equity Investees | — | — | — | — | — | — | ||||||||||||
Subtract: Interest Capitalized | — | — | — | — | — | — | ||||||||||||
Subtract: Preferred Stock Dividend Requirement | — | — | — | — | — | — | ||||||||||||
Earnings | $ | 1,057 | $ | 1,369 | $ | 1,500 | $ | 1,266 | $ | 1,418 | $ | 1,506 | ||||||
* Fixed Charges | ||||||||||||||||||
Interest on Long-term Debt | 251 | $ | 333 | $ | 347 | $ | 319 | $ | 292 | $ | 295 | |||||||
Amortization of Debt Discount, Premium and Expense | 10 | 12 | 13 | 13 | 13 | 14 | ||||||||||||
Interest Capitalized | — | — | — | — | — | — | ||||||||||||
Other Interest | 23 | 51 | 32 | 43 | 17 | 18 | ||||||||||||
Interest Component of Rentals | 14 | 12 | 18 | 17 | 18 | 19 | ||||||||||||
Preferred Stock Dividend Requirement | — | — | — | — | — | — | ||||||||||||
Fixed Charges | $ | 298 | $ | 408 | $ | 410 | $ | 392 | $ | 340 | $ | 346 | ||||||
Ratio of Earnings to Fixed Charges | 3.5 | 3.4 | 3.7 | 3.2 | 4.2 | 4.4 | ||||||||||||