We present new computations of the equilibrium and non-equilibrium cooling efficiencies and ionization states for low-density radiatively cooling gas containing cosmic abundances of the elements H, He, C, N, O, Ne, Mg, Si, S, and Fe. We present results for gas temperatures between 1e4 and 1e8 K, assuming dust-free and optically thin conditions, and no external radiation. For non-equilibrium cooling we solve the coupled time-dependent ionization and energy loss equations for a radiating gas cooling from an initially hot, >5e6K equilibrium state, down to 1e4K. We present results for heavy element compositions ranging from 1e-3 to 2 times the elemental abundances in the Sun. We consider gas cooling at constant density (isochoric) and at constant pressure (isobaric). We calculate the critical column densities and temperatures at which radiatively cooling clouds make the dynamical transition from isobaric to isochoric evolution. We construct ion ratio diagnostics for the temperature and metallicity in radiatively cooling gas. We provide numerical estimates for the maximal cloud column densities for which the gas remains optically thin to the cooling radiation. We present our computational results in convenient on-line figures and tables (see http://wise-obs.tau.ac.il/~orlyg/cooling/).

20 pages, 12 figures. ApJS in press. Electronic data available at http://wise-obs.tau.ac.il/~orlyg/cooling/