CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.
Ratio of Earnings to Fixed Charges
Twelve Months Ended
(Thousands of Dollars)
DECEMBER DECEMBER DECEMBER DECEMBER DECEMBER
1996 1997 1998 1999 2000
---------- ---------- ---------- ---------- ----------
Earnings
Net Income $694,085 $712,823 $745,140 $711,843 $583,715
State Income Tax - - - - 21,369
Federal Income Tax 355,590 357,100 327,805 857,818 109,814
Federal Income Tax Deferred 49,510 31,450 95,140 (454,578) 166,698
Investment Tax Credits (8,910) (8,830) (8,710) (37,159) (7,955)
---------- ---------- ---------- ---------- ----------
Total Earnings Before Income Tax 1,090,275 1,092,543 1,159,375 1,077,924 873,641
Fixed Charges* 343,308 353,689 345,513 340,344 392,347
----------- ---------- ---------- ---------- ----------
Total Earnings Before Income Tax
and Fixed Charges $1,433,583 $1,446,232 $1,504,888 $1,418,268 $1,265,988
============ ============ ============ ============ ============
* Fixed Charges
Interest on Long-Term Debt $296,443 $306,109 $294,894 $291,747 $318,842
Amortization of Debt Discount, Premium and Expense 11,376 12,049 13,777 13,514 12,584
Interest on Component of Rentals 18,157 18,448 18,442 17,720 17,697
Other Interest 17,332 17,083 18,400 17,363 43,224
----------- ---------- ---------- ---------- ----------
Total Fixed Charges $343,308 $353,689 $345,513 $340,344 $392,347
============ ============ ============ ============ ============
Ratio of Earnings to Fixed Charges 4.18 4.09 4.36 4.17 3.23