CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. RATIO OF EARNINGS TO FIXED CHARGES TWELVE MONTHS ENDED (Thousands of Dollars) MARCH MARCH 1994 1993 Earnings Net Income $ 693,892 $ 641,545 Federal Income Tax 344,270 235,110 Federal Income Tax Deferred 58,130 118,580 Investment Tax Credits Deferred (11,450) (13,560) Total Earnings Before Federal Income Tax 1,084,842 981,675 Fixed Charges* 322,456 314,239 Total Earnings Before Federal Income Tax and Fixed Charges $1,407,298 $1,295,914 *Fixed Charges Interest on Long-Term Debt $ 272,152 $ 269,499 Amortization of Debt Discount, Premium and Expenses 10,221 4,823 Interest Component of Rentals 18,912 19,007 Other Interest 21,171 20,910 Total Fixed Charges $ 322,456 $ 314,239 Ratio of Earnings to Fixed Charges 4.36 4.12