EX-12 7 a2112991zex-12.txt EX-12 EXHIBIT 12 CON EDISON COMPANY OF NEW YORK, INC. RATIO TO EARNINGS TO FIXED CHARGES (Millions of Dollars)
FOR THE THREE FOR THE TWELVE MONTHS ENDED MONTHS ENDED FOR THE TWELVE MONTHS ENDED DECEMBER 31, MARCH 31, 2003 MARCH 31, 2003 2002 2001 2000 -------------- -------------- ----------- ----------- ----------- EARNINGS Net Income for Common Stock $ 138 $ 593 $ 605 $ 649 $ 570 Preferred Stock Dividend 3 12 13 14 14 Cumulative Effect of Changes in Accounting Principles - - - - - (Income) or Loss from Equity Investees - 1 1 - - Minority Interest Loss - - - - - Income Tax 87 346 342 427 290 -------------- -------------- ----------- ----------- ----------- Pre-Tax Income from Continuing Operations $ 228 $ 952 $ 961 $ 1,090 $ 874 Add: Fixed Charges* 99 413 408 410 392 Add: Amortization of Capitalized Interest - - - - - Add: Distributed Income of Equity Investees - - - - - Subtract: Interest Capitalized - - - - - Subtract: Preferred Stock Dividend Requirement - - - - - -------------- -------------- ----------- ----------- ----------- EARNINGS $ 327 $ 1,365 $ 1,369 $ 1,500 $ 1,266 ============== ============== =========== =========== =========== * FIXED CHARGES Interest on Long-term Debt 85 336 $ 333 $ 347 $ 319 Amortization of Debt Discount, Premium and Expense 3 13 12 13 13 Interest Capitalized - - - Other Interest 7 50 51 32 43 Interest Component of Rentals 4 14 12 18 17 Preferred Stock Dividend Requirement - - - - - -------------- -------------- ----------- ----------- ----------- FIXED CHARGES $ 99 $ 413 $ 408 $ 410 $ 392 ============== ============== =========== =========== =========== Ratio of Earnings to Fixed Charges 3.3 3.3 3.4 3.7 3.2 ============== ============== =========== =========== =========== FOR THE TWELVE MONTHS ENDED DECEMBER 31, 1999 1998 ---------- ----------- EARNINGS Net Income for Common Stock $ 698 $ 728 Preferred Stock Dividend 14 17 Cumulative Effect of Changes in Accounting Principles - - (Income) or Loss from Equity Investees - 1 Minority Interest Loss - - Income Tax 366 414 ---------- ----------- Pre-Tax Income from Continuing Operations $ 1,078 1,160 Add: Fixed Charges* 340 346 Add: Amortization of Capitalized Interest - - Add: Distributed Income of Equity Investees - - Subtract: Interest Capitalized - - Subtract: Preferred Stock Dividend Requirement - - ---------- ----------- EARNINGS $ 1,418 1,506 ========== =========== * FIXED CHARGES Interest on Long-term Debt $ 292 $ 295 Amortization of Debt Discount, Premium and Expense 13 14 Interest Capitalized - - Other Interest 17 18 Interest Component of Rentals 18 19 Preferred Stock Dividend Requirement - - ---------- ----------- FIXED CHARGES $ 340 $ 346 ========== =========== Ratio of Earnings to Fixed Charges 4.2 4.4 ========== ===========