EX-12.2 4 a2122040zex-12_2.htm EXHIBIT 12.2
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Exhibit 12.2

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
   
 
 
 
 
 



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