EX-12.2 15 exhibit122-201610k.htm EXHIBIT 12.2 Exhibit


Exhibit 12.2
Consolidated Edison Company of New York, Inc.
Ratio of Earnings to Fixed Charges
(Millions of Dollars)
 
For the Years Ended December 31,
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings
 
 
 
 
 
 
 
 
 
Net Income
$1,056
 
$1,084
 
$1,058
 
$1,020
 
$1,014
Preferred Stock Dividend

 

 

 

 
3
(Income) or Loss from Equity Investees

 

 

 

 

Minority Interest Loss

 

 

 

 

Income Tax
603
 
574
 
555
 
520
 
529
Pre-Tax Income
$1,659
 
$1,658
 
$1,613
 
$1,540
 
$1,546
Add: Fixed Charges*
634
 
629
 
580
 
564
 
573
Add: Distributed Income of Equity Investees

 

 

 

 

Subtract: Interest Capitalized

 

 

 

 

Subtract: Pre-Tax Preferred Stock Dividend Requirement

 

 

 

 

Earnings
$2,293
 
$2,287
 
$2,193
 
$2,104
 
$2,119
* Fixed Charges
 
 
 
 
 
 
 
 
 
Interest on Long-term Debt
$575
 
$553
 
$510
 
$496
 
$508
Amortization of Debt Discount, Premium and Expense
13
 
14
 
13
 
15
 
17
Interest Capitalized

 

 

 

 

Other Interest
19
 
19
 
15
 
11
 
22
Interest Component of Rentals
27
 
43
 
42
 
42
 
26
Pre-Tax Preferred Stock Dividend Requirement

 

 

 

 

Fixed Charges
$634
 
$629
 
$580
 
$564
 
$573
Ratio of Earnings to Fixed Charges
3.6
 
3.6
 
3.8
 
3.7
 
3.7