EX-12.1 4 0004.txt EX-12.1 TO FORM 10-K CONSOLIDATED EDISON, 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 for Common Stock $688,169 $694,479 $712,742 $700,615 $582,835 Preferred Dividends 5,916 (A) 18,344 17,007 13,593 13,593 State Income Tax - - - - 23,636 Federal Income Tax 355,590 357,100 318,980 838,213 92,464 Federal Income Tax Deferred 49,510 31,450 95,140 (428,008) 199,146 Investment Tax Credits Deferred (8,910) (8,830) (8,710) (37,380) (8,078) ----------- ----------- ----------- ----------- ----------- Total Earnings Before Income Tax 1,090,275 1,092,543 1,135,159 1,087,033 903,596 Fixed Charges* 343,308 353,689 345,513 357,178 431,218 ------------ ----------- ----------- ----------- ----------- Total Earnings Before Income Tax and Fixed Charges $1,433,583 $1,446,232 $1,480,672 $1,444,211 $1,334,814 ============ ============ ============ ============ ============ * Fixed Charges Interest on Long-Term Debt $296,443 $306,109 $294,894 $305,879 $351,410 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 20,065 49,527 ------------- ------------ ------------ ------------ ------------ Total Fixed Charges $343,308 $353,689 $345,513 $357,178 $431,218 ============= ============ ============ ============ ============ Ratio of Earnings to Fixed Charges 4.18 4.09 4.29 4.04 3.10
(A) Reflects gain on refunding of preferred stock.