EX-12.1 2 ed-20150930xex121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
Consolidated Edison, Inc.
Ratio of Earnings to Fixed Charges
(Millions of Dollars)
 
For the Nine Months Ended September 30, 2015
 
For the Twelve Months Ended December 31, 2014
 
For the Nine Months Ended September 30, 2014
Earnings
 
 
 
 
 
Net Income for Common Stock
$1,017
 
$1,092
 
$1,010
Preferred Stock Dividend
—

 
—

 
—

(Income) or Loss from Equity Investees
(33)
 
(27)
 
(27)
Minority Interest Loss
—

 
—

 
—

Income Tax
548
 
568
 
559
Pre-Tax Income
$1,532
 
$1,633
 
$1,542
Add: Fixed Charges*
522
 
636
 
470
Add: Distributed Income of Equity Investees
—

 
—

 
—

Subtract: Interest Capitalized
—

 
—

 
—

Subtract: Pre-Tax Preferred Stock Dividend Requirement
—

 
—

 
—

Earnings
$2,054
 
$2,269
 
$2,012
* Fixed Charges
 
 
 
 
 
Interest on Long-term Debt
$458
 
$573
 
$427
Amortization of Debt Discount, Premium and Expense
11
 
14
 
11
Interest Capitalized
—

 
—

 
—

Other Interest
19
 
5
 
(1)
Interest Component of Rentals
34
 
44
 
33
Pre-Tax Preferred Stock Dividend Requirement
—

 
—

 
—

Fixed Charges
$522
 
$636
 
$470
Ratio of Earnings to Fixed Charges
3.9
 
3.6
 
4.3