EXHIBIT 12 | |||||||
FIRSTENERGY CORP. | |||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | |||||||
Three Months Ended | |||||||
March 31, | |||||||
2007 | 2006 | ||||||
(Dollars in thousands) | |||||||
EARNINGS AS DEFINED IN REGULATION S-K: | |||||||
Income before extraordinary items | $ | 290,110 | $ | 218,944 | |||
Interest and other charges, before reduction for amounts capitalized | 184,624 | 167,855 | |||||
Provision for income taxes | 200,341 | 135,203 | |||||
Interest element of rentals charged to income (a) | 54,985 | 56,796 | |||||
Earnings as defined | $ | 730,060 | $ | 578,798 | |||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | |||||||
Interest expense | $ | 184,624 | $ | 165,640 | |||
Subsidiaries’ preferred stock dividend requirements | - | 2,215 | |||||
Adjustments to subsidiaries’ preferred stock dividends | |||||||
to state on a pre-income tax basis | - | 1,368 | |||||
Interest element of rentals charged to income (a) | 54,985 | 56,796 | |||||
Fixed charges as defined | $ | 239,609 | $ | 226,019 | |||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 3.05 | 2.56 | |||||
a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined. |
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EXHIBIT 12 | ||||||||
Page 1 | ||||||||
OHIO EDISON COMPANY | ||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2007 | 2006 | |||||||
(Dollars in thousands) | ||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | ||||||||
Income before extraordinary items | $ | 54,035 | $ | 63,830 | ||||
Interest and other charges, before reduction for amounts capitalized | 21,022 | 18,387 | ||||||
Provision for income taxes | 17,426 | 38,320 | ||||||
Interest element of rentals charged to income (a) | 21,402 | 22,662 | ||||||
Earnings as defined | $ | 113,885 | $ | 143,199 | ||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | ||||||||
Interest on long-term debt | $ | 17,971 | $ | 13,083 | ||||
Other interest expense | 3,051 | 5,149 | ||||||
Subsidiaries’ preferred stock dividend requirements | - | 156 | ||||||
Adjustments to subsidiaries’ preferred stock dividends | ||||||||
to state on a pre-income tax basis | 18 | 101 | ||||||
Interest element of rentals charged to income (a) | 21,402 | 22,662 | ||||||
Fixed charges as defined | $ | 42,442 | $ | 41,151 | ||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 2.68 | 3.48 | ||||||
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined. |
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EXHIBIT 12 | ||||||||
Page 2 | ||||||||
OHIO EDISON COMPANY | ||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | ||||||||
PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS) | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2007 | 2006 | |||||||
(Dollars in thousands) | ||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | ||||||||
Income before extraordinary items | $ | 54,035 | $ | 63,830 | ||||
Interest and other charges, before reduction for amounts capitalized | 21,022 | 18,387 | ||||||
Provision for income taxes | 17,426 | 38,320 | ||||||
Interest element of rentals charged to income (a) | 21,402 | 22,662 | ||||||
Earnings as defined | $ | 113,885 | $ | 143,199 | ||||
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS | ||||||||
PREFERRED STOCK DIVIDEND REQUIREMENTS | ||||||||
(PRE-INCOME TAX BASIS): | ||||||||
Interest on long-term debt | $ | 17,971 | $ | 13,083 | ||||
Other interest expense | 3,051 | 5,149 | ||||||
Preferred stock dividend requirements | - | 815 | ||||||
Adjustments to preferred stock dividends | ||||||||
to state on a pre-income tax basis | (5 | ) | 455 | |||||
Interest element of rentals charged to income (a) | 21,402 | 22,662 | ||||||
Fixed charges as defined plus preferred stock | ||||||||
dividend requirements (pre-income tax basis) | $ | 42,419 | $ | 42,164 | ||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 2.68 | 3.40 | ||||||
PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS | ||||||||
(PRE-INCOME TAX BASIS) | ||||||||
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined. |
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EXHIBIT 12 | ||||||||
Page 1 | ||||||||
JERSEY CENTRAL POWER & LIGHT COMPANY | ||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2007 | 2006 | |||||||
(Dollars in thousands) | ||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | ||||||||
Income before extraordinary items | $ | 38,346 | $ | 33,710 | ||||
Interest and other charges, before reduction for amounts capitalized | 25,024 | 22,015 | ||||||
Provision for income taxes | 32,665 | 23,559 | ||||||
Interest element of rentals charged to income (a) | 2,385 | 1,692 | ||||||
Earnings as defined | $ | 98,420 | $ | 80,976 | ||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | ||||||||
Interest on long-term debt | 20,575 | 18,058 | ||||||
Other interest expense | 4,449 | 3,957 | ||||||
Interest element of rentals charged to income (a) | 2,385 | 1,692 | ||||||
Fixed charges as defined | $ | 27,409 | $ | 23,707 | ||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 3.59 | 3.42 | ||||||
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined. |
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EXHIBIT 12 | ||||||||
Page 2 | ||||||||
JERSEY CENTRAL POWER & LIGHT COMPANY | ||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | ||||||||
PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS) | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2007 | 2006 | |||||||
(Dollars in thousands) | ||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | ||||||||
Income before extraordinary items | $ | 38,346 | $ | 33,710 | ||||
Interest and other charges, before reduction for amounts capitalized | 25,024 | 22,015 | ||||||
Provision for income taxes | 32,665 | 23,559 | ||||||
Interest element of rentals charged to income (a) | 2,385 | 1,692 | ||||||
Earnings as defined | $ | 98,420 | $ | 80,976 | ||||
FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS | ||||||||
PREFERRED STOCK DIVIDEND REQUIREMENTS | ||||||||
(PRE-INCOME TAX BASIS): | ||||||||
Interest on long-term debt | $ | 20,575 | $ | 18,058 | ||||
Other interest expense | 4,449 | 3,957 | ||||||
Preferred stock dividend requirements | - | 125 | ||||||
Adjustments to preferred stock dividends | ||||||||
to state on a pre-income tax basis | - | 87 | ||||||
Interest element of rentals charged to income (a) | 2,385 | 1,692 | ||||||
Fixed charges as defined plus preferred stock | ||||||||
dividend requirements (pre-income tax basis) | $ | 27,409 | $ | 23,919 | ||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 3.59 | 3.39 | ||||||
PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS | ||||||||
(PRE-INCOME TAX BASIS) | ||||||||
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined. |
5
EXHIBIT 12 | ||||||||
METROPOLITAN EDISON COMPANY | ||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2007 | 2006 | |||||||
(Dollars in thousands) | ||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | ||||||||
Income before extraordinary items | $ | 31,639 | $ | 17,914 | ||||
Interest and other charges, before reduction for amounts capitalized | 11,756 | 11,184 | ||||||
Provision for income taxes | 23,599 | 11,204 | ||||||
Interest element of rentals charged to income (a) | 472 | 268 | ||||||
Earnings as defined | $ | 67,466 | $ | 40,570 | ||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | ||||||||
Interest on long-term debt | 7,334 | 8,717 | ||||||
Other interest expense | 4,422 | 2,467 | ||||||
Interest element of rentals charged to income (a) | 472 | 268 | ||||||
Fixed charges as defined | $ | 12,228 | $ | 11,452 | ||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 5.52 | 3.54 | ||||||
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined. |
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EXHIBIT 12 | ||||||||
PENNSYLVANIA ELECTRIC COMPANY | ||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2007 | 2006 | |||||||
(Dollars in thousands) | ||||||||
EARNINGS AS DEFINED IN REGULATION S-K: | ||||||||
Income before extraordinary items | $ | 31,744 | $ | 23,149 | ||||
Interest and other charges, before reduction for amounts capitalized | 11,337 | 10,536 | ||||||
Provision for income taxes | 24,263 | 13,954 | ||||||
Interest element of rentals charged to income (a) | 829 | 768 | ||||||
Earnings as defined | $ | 68,173 | $ | 48,407 | ||||
FIXED CHARGES AS DEFINED IN REGULATION S-K: | ||||||||
Interest on long-term debt | $ | 7,012 | $ | 6,934 | ||||
Other interest expense | 4,325 | 3,602 | ||||||
Interest element of rentals charged to income (a) | 829 | 768 | ||||||
Fixed charges as defined | $ | 12,166 | $ | 11,304 | ||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES | 5.60 | 4.28 | ||||||
(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined. | ||||||||
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